PM Shmyhal: Draft state budget for 2021 is well-balanced and realistic.

Prime Minister Denys Shmyhal has stated that the draft state budget for 2021 is well-balanced and meets the challenges that Ukraine is facing, the Government portal reports.

“Today the government will submit the draft state budget for 2021 to the Verkhovna Rada. The draft main financial document of the country is well-balanced and meets the specific challenges of today. Its main focus is support for citizens and businesses, a new impetus to regional development, further renewal of infrastructure. The draft budget envisages an increase in social component, as well as expenditures for development. The government is counting on constructive cooperation with the parliament and prompt adoption of this document,” the prime minister said.

Finance Minister Serhiy Marchenko, in turn, stated that the draft budget for 2021 is based on the macroeconomic forecast approved by the government in July 2020: "This is a budget of opportunities for economic development and support for our citizens and businesses in the context of economic ‘reviving’ after the impact of coronavirus pandemic”.

As reported, the Cabinet of Ministers approved the draft state budget for 2021 at an extraordinary meeting on Monday.

Earlier, Prime Minister Denys Shmyhal stated that the draft state budget for 2021 provides for a 4.7% growth in GDP, the projected budget deficit at up to 6%, the hryvnia exchange rate at up to UAH 29 per U.S. dollar.

According to the Budget Code of Ukraine, the Cabinet of Ministers approves and submits a draft law on the state budget for next year to Parliament by September 15.

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