Ukraine’s debt to zero, but may reduce

Ukraine’s debt to zero, but may reduce

It was clear at some point that the debt would stop costing zero because that zero was not natural in itself. Prime Minister imonyt told the news agency ELTA that there was a result of a number of factors, including an unprecedented monetary policy of the European Central Bank.

The head of government notes that eventually the criteria will be applied, even though the Maastricht criteria currently don't apply to the EU member states, which would limit the country's deficit.

Budget deficit may be reduced if budget revenue increases and the government forecasts revenue to grow, because budgetary appropriations will not be raised because the election year is approaching.

The budget deficit went up this year because funds had to be earmarked for one-off projects that would not be carried over to the next year, according to imonyt. Nearly 0.5% of the GDP is allocated for assistance to Ukrainian refugees.

In the state budget for 2022 it was projected that the deficit of government would amount to 4.9% of GDP.