The draft budgetary resolution for 2017, approved by the Cabinet of Ministers on June 23, envisages the deficit of up to 3 percent of GDP, the ceiling size of government debt not exceeding 66 percent of GDP, providing state guarantees of up to 5 percent of the general fund revenues and is based on the forecast average annual hryvnia exchange rate of Hr 27.2 per $1, First Vice Prime Minister, Minister of Economic Development and Trade Stepan Kubiv has said.
Prime Minister Volodymyr Groysman noted the draft resolution includes four targeted state support instruments: for agriculture with a focus on farms and small agricultural enterprises, the Regional Development Fund, as well as the State Road Fund and the Energy Efficiency Fund after their creation.
Finance Minister Oleksandr Danyliuk said the approved document suggests the elimination of the tax police and the establishment of the Financial Investigations Service, as well as measures to reduce the deficit of the Pension Fund.
Earlier, the Ministry of Finance specified the draft budget resolution for 2017 is built on the forecast GDP growth of 3 percent with inflation being 8.1 percent, while the rate of nominal GDP is foreseen at the level of Hr 2.585 trillion.
