Deficit of Ukraine's budget in nine months quadruplicates to almost US$2.9 bln

It was four times higher than the deficit for the same period last year / Photo from UNIAN, by Volodymyr Hontar

The deficit of Ukraine's national budget in January-September 2020 was UAH 81.725 billion, or US$2.89 billion, which is four times higher than the deficit for the same period last year.

This was reported on the website of the State Treasury Service of Ukraine.

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Before the coronavirus crisis, the budget deficit in January-September 2019, according to the State Treasury, was UAH 20.7 billion (US$731.7 million).

The deficit of the country's consolidated budget in January-September 2020 stood at UAH 58.997 billion (US$2.09 billion) against a UAH 8.7 billion (US$307.5 million) surplus for the same period in 2019.

Milestones

• In April, the Verkhovna Rada adopted amendments to the national budget for 2020, necessary to combat COVID-19, which suggested a threefold increase in the budget deficit, to UAH 298 billion (US$10.5 billion).
• After the amendments, budget revenues amounted to UAH 975.8 billion (US$34.5 billion), expenditures were UAH 1.266 trillion, the maximum deficit was capped at UAH 298.4 billion, public debt was estimated at UAH 2.387 trillion.
• The Fund for Combating COVID-19 had UAH 64.7 billion (US$2.29 billion).
• As of October 1, 2020, the deficit of the national budget exceeded UAH 41 billion (US$1.45 billion).