Budget 2019 approved: Expect the IMF wire

UKRAINE - In Brief 23 Nov 2018 by Dmytro Boyarchuk
In 6:01 AM Kyiv time the parliament approved spending plan 2019. The authorities were in rush (probably under pressure of some deadline) and spent the whole night juggling with spending numbers. Eventually they have approved budget with the key figures – deficit, general revenues and spending – predominantly intact, according to eyewitnesses. Recall, MinFin submitted to the parliament a draft budget with 2.3% of GDP deficit. Revenues were projected based on 3% GDP growth and 7.4% consumers’ inflation. The final version of budget 2019 still to be evaluated by the IMF officers but predominantly perception of the approved document is positive and I do not expect any surprises with next IMF wire for Ukraine. We cannot rule out budget spending boosting in 2019 through multiple amendments: elections will take their toll. But that will be another story. For now we have positive news to celebrate.

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