WSJ: Ukraine’s budget is missing about $5 billion per month

Ukraine’s monthly budget deficit is about 5 billion dollars, writes Wall Street Journal.

According to the publication, because of this, there are difficulties in the fulfillment of social obligations and financing of hostilities in the country. 60% of the entire budget is spent on conflict-related expenditures. At the same time, tax revenues cover only 40% of government expenditures. GDP is expected to fall by 30% by the end of the year.

The publication explains that Kiev plans to recoup the costs through foreign aid. However, the country has so far received only $1 billion from the $9 billion macro-financial aid package promised by the EU countries. Another source of budget replenishment may be the emission of money, but it is not enough.

Serhiy Nikolaychuk, vice-president of the Central Bank of Ukraine, said that the country will be able to meet all its debt obligations with foreign aid of $ 3 billion per month.

Previously reportedHe barely pays the salaries of Kyiv military personnel, but is ready to risk the stability of the financial system for their sake.



Source: Gazeta

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