Photo from UNIAN
The Ukrainian Cabinet of Ministers has published the draft national budget for 2017, where revenue is set at UAH 706.269 billion (about $US 27.27 billion), while spending is planned at UAH 775.265 billion (about $30 billion).
The deficit is capped at UAH 77.547 billion (about $3 billion), draft law No. 5000 on the national budget of Ukraine for 2017 reads.
Read alsoUkraine state debt projected to reach 80% of GDP by end of 2016The country's state debt as of December 31, 2017 is limited to UAH 1.717 trillion (about $66 billion), and government-guaranteed debt is fixed at UAH 579.369 billion (nearly $22.4 billion) as the highest level.
As was reported, the draft national budget for 2017 was tabled in parliament in keeping with the deadline set at September 15, 2016.
The Cabinet in June 2016 approved the draft budget resolution, which foresees 3-4% GDP growth in 2017 amid 8.1% inflation and 8.6% unemployment. The state debt is projected at 66.8% of GDP next year, the forex rate is expected at UAH 27.2 per U.S. dollar.
Late in August 2016, Ukrainian Prime Minister Volodymyr Groysman named the priorities for funding from the national budget. They are the defense sector and security (at least 5% of GDP) amid ongoing military aggression by Russia. Other priorities are the development of infrastructure, the launch of the Road Fund, which will include funds from international financial organizations and about UAH 14 billion from the national budget, the launch of the Energy Efficient Fund, support of small-sized farms (UAH 5.5 billion). The Ukrainian government also plans to develop trade missions abroad to promote Ukrainian exports and conduct large-scale privatization by selling stakes in more than 300 enterprises, including such giants at Turboatom and Electrotyazhmash, and the State Food and Grain Corporation.