The government of Ukraine the draft of the main financial document of the country foresees a budget deficit to 3.7% of GDP.
KYIV, 5 Dec. The national Council of reforms under the chairmanship of President Petro Poroshenko on Tuesday to discuss a compromise draft of the tax reform and the draft state budget of Ukraine for 2016, said Tuesday the Deputy head of the parliamentary faction “Block of Petro Poroshenko” Igor Kononenko.
The Cabinet of Ministers of Ukraine previously extended the discussion of the draft budget for 2016 to the legislature until 4 December. According to the Ministry of Finance, the government planned to approve the draft budget for next year with a deficit of 3.7% of GDP, inflation at 12% and GDP growth of 2%. The Cabinet said that it would make the Parliament a draft state budget for next year and the tax code, once agreed, this will be the most compromise.
“Tuesday night is planned for next week, the national Council of reforms with the participation of the President of the country, and I’m sure we’ll find a compromise, and the joint bill (tax reform — ed.) will be submitted to Parliament. On its basis will be calculated the budget, and in December we will vote for it”, — Kononenko said in an interview with TV channel “112 Ukraine”.
The Cabinet of Ministers of Ukraine plans the adoption of the state budget for 2016 on the basis of the new tax system. At the moment there are two options for tax reform — from the government and deputies. Each involves the reduction of expenditure budget: project Finance — 60 billion hryvnia (about $ 2.5 billion), a Deputy — at 200 billion hryvnias (about 8.4 billion).