The Cabinet of Ministers of Ukraine has adopted the budget resolution for 2018-2020.
The cabinet endorsed the document at its sitting on Wednesday, Ukrainian News Agency reports.
"For the first time ever we are introducing the mid-term budget planning," said Finance Minister Oleksandr Danyliuk during the presentation of the document.
He says the adoption of the document will allow launching the system of comprehensive assessment of fiscal risks.
"Fiscal risks require transparency and effective planning," he said.
In the short-term perspective the government is planning to cut the budget deficit from 3% to 2% of GDP and to achieve deficit-free budgets in the long-term perspective.
The government is also planning to cut the state debt.
All macroeconomic indicators are based on the macroeconomic forecast of the government endorsed late in May 2017.
As Ukrainian News Agency earlier reported, on May 31, the Cabinet of Ministers endorsed the GDP growth forecast of 3-4% for the 2018-2020 period.
According to the moderate scenario of the forecast, Ukraine's gross domestic product will grow by 3% in 2018, 3.6% in 2019, and 4% in 2020.
The inflation (December on December) is expected to be 7% in 2018, 5.9% in 2019, and 5% in 2020.
The unemployment level is expected to be 9.1% in 2018, 8.9% in 2019, 8.5% in 2020.
According to the optimistic scenario, Ukraine's GDP will grow by 4% in 2018, 4% in 2019, and 5% in 2020.
According to the pessimistic scenario, Ukraine's GDP will grow by 1.2% in 2018, 1% in 2019, and 1.7% in 2020.
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