Government approved the report on implementation of 2015 State Budget of Ukraine
The Cabinet of Ministers approved the report on implementation of the law On State Budget of Ukraine for 2015.
In her presentation of the annual financial statement Finance Minister Natalie Jaresko noted that for the first time in many years last year’s state budget had been successfully accomplished by the Government.
In particular, during 2015 for the first time in four years they managed to fully implement the revenue line of the state budget, to complete the first stage of fiscal decentralization and enhance the local budget resources, to cover all the key demands of the country.
Another achievements include the negative trend of previous years was changed, and the deficit in the state budget reduced significantly – from UAH 78.1 billion (4.9% of GDP) in 2014 it decreased to UAH 45.2 billion (2.3% of GDP) in 2015.
According to Natalie Jaresko, pursuing a policy of deficit reduction Ukraine will be capable to lessen its debt burden, reduce inflation rate, which will help to restore investor’s confidence in the future and therefore to increase the volume of investment into the economy, thereby creating new jobs and conditions for sustainable development of the economy of Ukraine.