Authorities could take “painful measures” if the fighting lasted more than three to four months.
Ukraine loses $ 5 billion per month, which is 5% of GDP. Finance Minister Sergei Marchenko spoke about it in an interview with The Economist.
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The minister called the military salary a “huge burden” for the budget.
He noted that dragging out the war for more than three or four months would require painful steps.
According to him, in this case, the country can go for a sharp increase in taxes, reduce spending and resort to nationalization.
The head of the Ministry of Finance noted that customs revenues dropped by almost a quarter due to a reduction in imports and the suspension of many duties.
Marchenko also recalled that the World Bank predicts a decline in Ukraine’s GDP by approximately 45% in 2022. According to Ukraine, GDP will fall by 44%.
According to the Ministry of Finance, in April, the general fund of the state budget received 76.2 billion hryvnias. This is 74% of revenues in March (UAH 103.4 billion).
For the first 4 months of 2022, the state budget was executed with a deficit of UAH 146.6 billion, with the general fund with a deficit of UAH 157.2 billion, with a planned deficit for January-April in the amount of UAH 317.1 billion.
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Source: korrespondent
