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11 September, 2013 17:38   ▪  

Cabinet of Ministers approves draft budget for 2014 with projected GDP growth at 3% and 8% inflation rate

The Cabinet of Ministers approved Draft State Budget for 2014 with, reports Iryna Akimova, First Deputy Chief of Staff. GDP is expected to grow 3% and inflation rate is estimated at 8%.

“A 3% GDP growth is a realistic number,” she commented. According to Ms. Akimova, budget deficit listed in the draft budget is 2.7% of GDP.
Public debt is estimated at 32.5% of GDP.
According to Ms. Akimova, these estimates meet approximate numbers provided by international financial organizations. The Cabinet did not discuss revision of the 2013 budget at its meeting on Wednesday, she added.

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Currently, ministries are discussing the draft budget. The final document should be submitted to parliament by September 15.
“The numbers and macro projections listed in the budget and adopted by the Cabinet of Ministers today will hardly change because these are strict, fundamental things. Numbers regarding allocations and spending may change,” she explained.
Average hryvnia exchange rate for 2014 was not discussed, Ms. Akimova noted.

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