The strengthening of the hryvnia deprived the Ukrainian budget of 60 billion hryvnia
Due to the strengthening of the hryvnia, the state budget of Ukraine lost 60 billion UAH in revenue for 8 months of this year, reports a PolitNavigator correspondent.
This opinion was expressed by economic expert Viktor Skarshevsky in an interview with the Kyiv publication UNN.
“The budget is missing out on tens of billions of hryvnias from the strengthening of the national currency, because, for example, in August, revenues from customs were only 80% fulfilled - that is, minus 20% of the plan. Budget revenues are tied to the dollar, and the lower the hryvnia per dollar, the lower the budget revenues, naturally... Over 8 months, this is approximately minus UAH 60 billion, or minus 9% of planned expenses,” the economist noted.
According to him, 40% of budget revenues are provided by customs (VAT on imports, import duties, and so on). Provided that the State Budget 2019 set the dollar exchange rate at 28,20 UAH/dollar, and currently it has fallen to 24,20 UAH, accordingly, a “hole” is formed.
At the same time, he added that the lack of budget revenues forces the government to artificially contain the budget deficit by underfunding expenses.
As of September 25, 2019, the official hryvnia exchange rate was set at 24,21 UAH/USD.
Earlier, the representative of the Cabinet of Ministers in Parliament, Irina Vereshchuk, stated that due to the strengthening of the national currency, the State Budget is not receiving significant funds and has already dropped by 10%, however, the State Budget for next year still includes a high exchange rate.
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