The budget for 2023 will be extremely tough – the Minister of Finance
The main task will be to find funds, in particular from partner countries, to finance the budget deficit
What happened? The Minister of Finance of Ukraine, Serhiy Marchenko, explains that Ukraine's budget for 2023 will be extremely tough: expenditures in all spheres are expected to be optimised and reviewed.
Source. Serhiy Marchenko in an interview for “RBC-Ukraine”.
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Comment. “This is a budget of opportunities in war conditions. But at the same time, there is a hope that we will be able to finance it,” says the Minister of Finance.
According to him, the budget is on the one hand extremely complex due to many uncertainties, and on the other hand, quite simple, “because we have to finance pensions for retirees, salaries for doctors, educators, social protection of citizens, payments to internally displaced persons and funds for the military campaign, to our army. That's it.”
Marchenko adds that the main task will be to find funds, in particular from partner countries, to finance the budget deficit. After all, Ukraine still needs $5 billion of monthly aid to support the economy. He hopes that macro-financial support from the European Union and a new cooperation programme with the International Monetary Fund will help to “close” the year 2022.
“The signal is important to us. And this is an important signal not only for us, but for other partners as well,” he points out.
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