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Ukraine gov't foresees 3-pct growth in 2017 draft budget

Xinhua, September 16, 2016 Adjust font size:

The Ukrainian government said late Thursday it has presented to parliament a draft budget for 2017, envisaging an economic growth of 3 percent compared with a projected 1 percent increase this year.

"We are counting on the revival of the economy. We see that our country's economy started recovering, and our task is to make this process irreversible and accelerate the economic growth," Ukrainian Prime Minister Volodymyr Groysman was quoted as saying by the government's press service.

The projected growth of the economy would allow the government to slash the budget deficit to 3 percent next year from an estimated 3.7 percent in 2016, without increasing key taxes, Groysman said.

According to the prime minister, the cabinet plans to boost the budgetary revenues next year mainly through increasing rental rates on the state-owned property.

According to the cabinet's press service, the budget expenditures in 2017 will focus on raising welfare payments, while enhancing financing of defense, educational, healthcare and cultural spheres.

Besides, the government plans to assign about 542 million U.S. dollars from the 33.4-billion-dollar budget for road construction, grant 210 million dollars as agricultural subsidies to farmers and allocate 30.5 million dollars for implementation of energy effectiveness programs.

The budget will be put on the voting in parliament after consultations with lawmakers and experts. Endi