Finance minister: No need to cut Ukraine spending

27 Jun 18

Ukraine’s acting finance minister has said there is no reason to cut spending under the 2018 budget.

Oksana Markarova, who took over the role after her predecessor Oleksandr Danyliuk was removed by parliament in June this year, added revising the budget towards increasing expenditure was a possibility, in an interview with local media last week.

She said: “This year we do not see prerequisites for budget cuts.

“We see clear trends towards budget execution, as well as the measures we still need to take to fulfil it on certain parameters and revenues."

Markarova added:  “Time will show whether there will be the possibility to review the budget. 

"But there won’t be definitely the revision towards reducing expenditures.”

The acting finance minister also said earlier this month that she would bring back medium-term budget planning.

“I plan to return to full implementation of medium-term budgeting, i.e. budgeting for three years.

“I hope we find support in the parliament and will be able to implement it,” she said.

In her role, she has stressed the importance of macroeconomic stability and reducing risks, to support economic development.

This includes a reform of the tax and customs administration, a new body of financial investigations and generally reducing the pressure on businesses, she said.

Ukraine’s parliament voted to remove Danyliuk after he fell out with prime minister Volodymyr Droysman.

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