Ukraine's budget deficit grows to US$1.2 bln in Q1

The anti-COVID-19 fund is estimated at US$2.4 billion.

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Ukraine's national budget in January-March 2020 grew by 25% year-over-year from UAH 26.2 billion (US$966.8 million), to UAH 32.732 billion (US$1.21 billion).

The country's consolidated budget consisting of the national and regional budgets saw a UAH 17.324 billion (US$639.3 million) deficit in the first three months of 2020, which was 93% higher than the deficit for the same period in 2019 estimated at UAH 8.97 billion (US$331 million), the State Treasury Service of Ukraine said on its website.

Read alsoUkraine's Finance Ministry expects two IMF disbursements worth US$3.5 bln by end of 2020

As UNIAN reported earlier, the Verkhovna Rada, Ukraine's parliament, on April 13 adopted amendments to the 2020 national budget. They are designed to fight the COVID-19 epidemic. The changes suggest a threefold increase in the budget deficit, to UAH 298 billion (US$11 billion).

After the changes are introduced, the national budget's revenue will amount to UAH 975.8 billion (US$36.01 billion), spending will total UAH 1.266 trillion (US$46.7 billion), the deficit will be capped at UAH 298.4 billion (US$11 billion). The state debt's ceiling is set at UAH 2.387 trillion (US$88.1 billion).

The anti-COVID-19 fund is estimated at UAH 64.7 billion (US$2.39 billion).

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