The Ministry of Finance expects the National Bank’s revised forward-looking indicators of the hryvnia exchange rate for drafting the state budget for the year 2020, said Minister of Finance of Ukraine Oksana Markarova.
She said that the new government would in time submit the draft state budget after the appointment, the Finance Ministry and the main managers are moving in accordance with the schedule of the budget process.
“Waiting for prompt clarification of macro or confirmation of the current forecast and bring limits to managers,” said Markarov.
She recalled that the government approved a forecast of 3 years, however, the results for the 7 months of 2019, the Ministry of Finance sent a request to the NBU regarding possible refinements of the forecast rate for the years 2020-2022.
“While Ukrainian business/export companies complain about the strengthening of the hryvnia, which affects their competitiveness for the Ministry of Finance the main thing that the budget planned was realistic. This means that it should be based on the most accurate forecast,” – said Markarova.
The state budget of Ukraine to 2019, provides for revenues in the amount of 1,026 trillion UAH, expenses – 1,112 trillion UAH, the maximum volume of the deficit – 89,989 billion UAH. According to the Budget code, the government must submit to Parliament a draft budget for next year until September 15.