The Cabinet

The Cabinet of Ministers of Ukraine approved a budget resolution for 2018-2020. The document was adopted at today’s government meeting, write “Ukrainian news”.

“For the first time in the history of budgeting we are introducing medium-term budget planning. It was one of the priorities of the government since last year,” said Finance Minister Oleksandr danylyuk during the presentation of the resolution.

This transition to medium-term planning, he said, will provide a strategic approach to the allocation of resources, will also improve forecasting of budget expenditure.

Related news: the Finance Ministry expects GDP growth to more than 11% and a reduction of inflation to less than 5% within three years

“We will be able to provide costs for the implementation of medium-term planning of the government,” the Minister added.

Danilyuk noted that the resolution also allows you to run the system of complex evaluation of fiscal risks .

“Fiscal risks require transparent disclosure, as well as efficient planning,” he said.

In the short term it is planned to reduce the country’s budget deficit from 3% to 2%, and in the long term – to reach a balanced budget.

It is also planned reduction of public debt.

All macroeconomic indicators are based on the approved macroeconomic forecast of the government, which was approved in late may.

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