State budget deficit totals UAH 12.5 bln in 2008
27 January 2009
According to the Ministry of Economics, the state budget deficit in 2008 was UAH 12.5 bln (about USD 1.6 bln), 66% of the amount planned in the budget law. The government said that the shortfall was partially financed by local bond issues and a World Bank loan program. Andrii Parkhomenko: We believe that in 2009 the budget deficit could reach UAH 41.2 bln (4.1% of GDP) in 2009. The deficit will be financed via debt attraction, as privatization prospects are unclear.
