REUTERS
The Finance Ministry of Ukraine expects that the 2016 state budget will be fulfilled without cuts to budget expenditure items, Finance Minister Oleksandr Danylyuk told reporters.
"We have certain risks, but we are addressing them. We are looking for solutions. I think that with regard to 2016, there will be solutions," the minister said.
Earlier, in his interview with Bloomberg Danylyuk stated that the country's budget for 2016 was“unrealistic” and difficult to fulfill due to delays in lending, the failure to properly carry out the privatization program, as well as due to slowing down of the economic recovery. At this, the minister stressed he “was working every day” to reduce fiscal risks.
Read alsoDraft state budget for 2017 envisages 17% expenditure growthHe then stated the Ukrainian Cabinet would need to cut spending to get the 2016 budget back in line with the requirements of the country's international lenders, Bloomberg wrote.
As UNIAN reported earlier, according to the National Bank of Ukraine, deficit of the consolidated budget of Ukraine in January-July this year amounted to UAH 22.884 billion as compared to a surplus of UAH 15.392 billion in the same period last year. Further, Ukraine's national budget deficit from January-July was UAH 49.945 billion, which 22 times higher than the same period last year, when it was UAH 2.268 billion. The nation`s budget revenue in the first seven months was reported as UAH 301.300 billion, while expenses were UAH 349.996 billion.
Read alsoUkraine PM voices Gov't plan to set up UAH 3.5-4 bln energy fundAt the same time, the Ukrainian prime minister earlier stated that the government saw no grounds for state budget sequester as the country had sufficient resources to comply with its social commitments.