The National Bank of Ukraine has raised its expectations for the deficit of the country's consolidated budget for 2023-2025 with the next year's estimated deficit being 1.6 times higher than predicted earlier, according to the bank's macroeconomic forecast published on Monday
MOSCOW (Pakistan Point News / Sputnik - 07th August, 2023) The National Bank of Ukraine has raised its expectations for the deficit of the country's consolidated budget for 2023-2025 with the next year's estimated deficit being 1.6 times higher than predicted earlier, according to the bank's macroeconomic forecast published on Monday.
The deficit of Ukraine's consolidated budget for 2013 is currently estimated at 1.29 trillion hryvnia ($35.2 billion, or 19.8% of the country's GDP), compared with the previous forecast of 1.27 trillion hryvnia.
At the same time, the expectations for 2024 have been raised by 1.6 times to 1.28 trillion hryvnia, while those for 2025, by 1.5 times to 883 billion hryvnia. Therefore, Ukraine's budget deficit in 2024 and 2025 will be 16.8% and 10% of its GDP, respectively.
In 2022, the deficit of Ukraine's consolidated budget was 845 billion hryvnia, or 16.3% of GDP.
