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In the medium term, budget deficit is set to be gradually reduced: to 4-4.5% of GDP in 2022 and to 3-3.5% of GDP in 2023.
The parameters of the State Budget 2021 are in line with the estimates compiled by the International Monetary Fund's experts.
That's according to Minister of Finance Serhiy Marchenko, who spoke in Parliament on Tuesday, presenting the budget bill ahead of the vote at second reading that turned out to be successful.
"We keep moving within the framework of cooperation with the IMF. In general, the parameters of Budget 2021 are in line with the estimates of the Fund's experts, which proves that we are moving in the right direction," Marchenko told lawmakers.
Between the first and second readings, more than 2,000 amendments were processed. Proposals for more than UAH 14 billion have been taken into account.
"It was important for us to preserve the priorities defined by president and government, which were supported by people's deputies, and at the same time reduce budget deficit, adhering to the principles of balance and realism," Marchenko said.
As a result, Marchenko noted, the state budget deficit decreased from 6% to 5.5%, amounting to UAH 246.6 billion, thus, between the first and second reading, it was reduced by UAH 23.7 billion.
Marchenko also noted that in the medium term, it is planned to gradually reduce the budget deficit: to 4-4.5% of GDP in 2022 and to 3-3.5% in 2023.
Budget 2021: Latest
The Verkhovna Rada of Ukraine, the country's parliament, on Tuesday, December 15, passed a draft law on the State Budget 2021.