The only effective source was external borrowing in the form of grants and loans and war bonds.
Finance Minister Serhiy Marchenko said that borrowing remains the only effective way to increase the revenues of the state budget of Ukraine in the current conditions. He said this on the air of an information telethon.
“Objectively, we don’t have the opportunity to further reduce expenses, we have actually minimized these opportunities. Raising taxes during wartime is also not an option, since business is closing, there is no maneuver here either. The only source remains borrowing – external from our partners in the form of grants and loans and military bonds,” said Marchenko.
According to him, there are all signs of economic recovery, which makes it possible to count on an increase in tax revenues in the future.
Marchenko also noted the increase in revenues and the budget from customs due to the devaluation of the hryvnia.
Recall that in August the state budget of Ukraine received record revenues. In particular, Ukraine received record funding from external sources – $4.69 billion or UAH 172 billion.
It was also reported that in July the budget deficit reached less than five billion hryvnia, and in August – 5.4 billion.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.