GDP is expected to fall to about 5%.
Amid the resignation of the head of the National Bank of Ukraine Yakov Smoliy and possible appointment of the new head of the Central Bank of Ukraine will have in 2021 to pay a huge amount on the national debt of 600 billion. This Parliament was told by the Minister of Finance, Sergei Marchenko.
“Projected payments on the national debt next year will be roughly 600 billion hryvnia, “–said Marchenko.
The Minister added that the state budget deficit in 2020 is 7.5% of gross domestic product(GDP).
“Next year we plan this to reduce the deficit“, he said.
We will remind, the international monetary Fund, which approved a new credit program for Ukraine, worsened the forecast of GDP for 2020 from minus 7.7% to minus 8.2 per cent.
However, the government believes that Ukraine is moving in the forward-looking indicators of implementation of the state budget for 2020, the results of which GDP is expected to fall to about 5%.
In may 2020 of public and publicly guaranteed debt in local currency increased by 0.59%, and in dollar terms – 0.83%. While a month earlier the hryvnia, the national debt fell and the dollar grew. This is evidenced by data the Ministry of Finance.
So, national debt in the national currency amounted to 2,209 trillion hryvnia and the U.S. dollar equivalent in foreign currency – 82,12 billion.
Recall, to cope with the payments on the public debt in 2020, Ukraine needs help from the International monetary Fund (IMF). Ukraine and the IMF signed an agreement on a new program stan-by. It is designed for 18 months, and the total volume is about 5 billion dollars. Funds will be provided in four tranches. The first tranche, which has already received Kiev – $ 2.1 billion – fully directed to the state budget. The decision on the second tranche of the IMF is planning to take in September-2020.