The Parliament of Ukraine adopted the state budget for 2016

The Parliament of Ukraine adopted the state budget for 2016


The draft budget that must be signed by the President of the country Petro Poroshenko, was very controversial and raised debates in the Ukrainian Parliament. Some factions, including the ruling coalition, described the document as “anti-social”.

KYIV, 25 Dec. The Parliament of Ukraine adopted the law on the state budget of the country in 2016 with a deficit of 3.7% of GDP.

This decision at an extraordinary session on Friday endorsed 263 parliamentarians at the required minimum of 226 votes. The document must be signed by the President of the country Petro Poroshenko.

The draft budget was very controversial and raised debates in the Ukrainian Parliament. Some factions, including the ruling coalition, described the document as “anti-social”, since it provides significant reduction in social programs and expenditures. According to deputies, the budgeted growth of salaries and pensions by 12% is totally inadequate, because inflation over the next year will be at least 30%.

At the same time from the adoption of the state budget depends on the allocation of Kiev the International monetary Fund (IMF) of the third tranche of macro-financial assistance of USD 1.7 billion.

The state budget for next year foresees GDP growth of 2%, nominal GDP – 2,262 trillion hryvnia, inflation – 12%.