REUTERS
The government plans to lower the budget deficit next year.
Ukrainian Finance Minister Serhiy Marchenko says Ukraine will need about UAH 600 billion (US$22 billion) to repay and service its sovereign debt in 2021.
"Our deficit of the national budget is 7.5% of GDP this year. Next year we plan to reduce this deficit. So far, the only thing I can say is that estimated payments on sovereign debt will amount to about UAH 600 billion next year," he said during a Q&A hour at the Verkhovna Rada, Ukraine's parliament, on July 3, 2020.
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In turn, Ukrainian Prime Minister Denys Shmyhal added his government would be able to meet all state obligations in the social, healthcare and education sectors.
"We clearly took into account the possibilities of this year to increase the minimum wage to UAH 5,000 (US$184) from September 1. And we clearly understand how we will plan and implement the budget for next year, including the repayment of international and domestic debt obligations, especially to fulfill the social functions of the state before the citizens of Ukraine," the prime minister said.
As UNIAN reported earlier, Ukraine's national and state-guaranteed debt in May in the national currency equivalent grew by 0.59%, to UAH 2.209 trillion, and by 0.83% in foreign currency, to US$82.12 billion.