REUTERS
The minister said the 2020 budget would be fulfilled by the end of the year.
Ukrainian Finance Minister Serhiy Marchenko has said Ukraine plans to stop borrowing from the International Monetary Fund (IMF) by 2023.
"We believe we will have an opportunity to say before 2023 – as early as in 2022 – that we have no loans from the IMF in the budget. That is, we have an opportunity thanks to de-shadowing, an increase in revenues, more efficient spending, and our improved credit ratings," he told a Svoboda Slova [Freedom of Speech] panel show on Ukraine's ICTV channel on June 15, 2020.
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According to Marchenko, there are all signs to hope for the restoration of economic growth.
He says the reasons for such expectations, in particular, include an increase in the level of electricity consumption, "which indicates a certain recovery of the industry," as well as the indicators of government bonds and the planned IMF program.
The minister added the 2020 budget would be fulfilled by the end of the year.
"Moreover, the task is set for the heads of the tax and customs services to exceed these indicators, given the dynamics of the decline that we have so that we have an opportunity to catch up," Marchenko said.
As UNIAN reported earlier, the IMF Executive Board on June 9 approved an 18-month Stand-By Arrangement (SBA) for Ukraine, with access equivalent to SDR 3.6 billion (about US$5 billion, or 179% of quota). The first disbursement is worth US$2.1 billion.