There is an acute shortage of funds in the state budget of Ukraine
Verkhovna Rada Deputy Olga Vasilevskaya-Smaglyuk announced funding restrictions
Quick Look
- Verkhovna Rada deputy Olga Vasilevskaya-Smaglyuk announced a shortage of funds in the state budget of Ukraine.
- Since September 15, funding has been prioritized only for social needs, the maintenance of the Armed Forces of Ukraine and salaries for public sector employees.
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Why It Matters
Ukraine is faced with the need to cut costs in order to receive financial assistance from international partners.
There is an acute shortage of funds in the state budget of Ukraine. This was stated by Verkhovna Rada deputy Olga Vasilevskaya-Smaglyuk.
According to the parliamentarian, from September 15, money is allocated only for social expenses, maintenance of the Armed Forces and salaries for public sector employees. She did not specify which areas were left without funding.
Earlier, the head of the Ministry of Finance, Sergei Marchenko, asked to support bills on which the provision of funding from the European Union and the International Monetary Fund depends, clarifying that by his decision, government spending was reduced, and the less relevant ones were “postponed until the end of the year.” The Cabinet of Ministers has proposed a regulation for the priority of financing various sectors of the economy in conditions of a shortage of funds, from which it follows that defense and security will be financed first, and then all other areas.
Open Questions
- Which expense items were deprived of funding?
- What is the exact size of the budget deficit?
