Ukrainian Finance Minister Natalie Jaresko announces that the deficit of Ukraine`s national budget in 2015 shrank to UAH 45.2 billion, or 2.3% of GDP, due to financial restructuring measures.
”In 2015, the budget deficit was reduced to UAH 45.2 billion, or 2.3% of GDP. The prudent fiscal policy is a necessary but not sufficient condition for the resumption of economic growth,” the minister said at a government meeting on Wednesday.
Jaresko noted that despite a difficult economic situation the government had managed to significantly reduce the gap between the state budget revenues and expenditures.
”With an increase in spending, we`ve managed to reduce the budget deficit by more than 33.4% as compared to 2014,” Jaresko said.
As UaPosition reported earlier, Ukraine`s 2015 state budget projected revenues at UAH 502.260 billion, and expenditures at UAH 566.870 billion. The deficit was capped at 4.1% of GDP, and state debt was limited to UAH 1.394 trillion.
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