Rada Adopts First Reading Of 2020 State Budget

The parliament has adopted the first reading of the state budget for 2020.

The draft law No. 2000-p was approved by 255 votes, with only 226 required for its approval, the Ukrainian News Agency reports.

The Cabinet of Ministers submitted the draft state budget for 2020 to the parliament on September 15. It provides for projected revenues of UAH 1,079.487 billion and projected expenditures of UAH 1,170.003 billion.

It also provides for a deficit of UAH 95.131 billion and provides for limiting the government debt to UAH 2,127.687 billion and government-guaranteed debt to UAH 388.630 billion.

The draft state budget for 2020 is based on a macroeconomic forecast that provides for increase of Ukraine’s real GDP by 3.3% and increase of its nominal GDP to UAH 4,551.7 billion.

December-on-December inflation rate is projected at 6% and December-on-December producer price index at 8.4%.

As Ukrainian News Agency earlier reported, the 2019 state budget provides for a 3% GDP growth rate with a 7.4% inflation rate.