Yaresko: there will be no increase in social payments
The Minister of Finance of Ukraine, American Natalya Yaresko Ann, refused to increase social payments to citizens of Ukraine, reports Interfax-Ukraine.
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The growth in state budget revenues in recent months is associated mainly with the devaluation of the hryvnia, which entails a corresponding increase in state budget expenditures, and there are still no funds to increase social benefits, said Finance Minister Natalia Yaresko.
“We don’t yet have the opportunity to increase budgetary social payments, if it does, then I’m ready,” the head of the Ministry of Finance told reporters on the sidelines of a round table organized by the American-Ukrainian Business Council (USUBC) in Kyiv on Thursday. The refusal was received despite the fact that the country's budget revenues have increased. The growth in income, however, is associated only with the devaluation of the hryvnia, and not with economic growth. The devaluation in turn led to increased costs.
Moreover, Yaresko admitted that the decline in the Ukrainian economy, even according to official data, is at least 15%.
As reported, the state budget of Ukraine for 2015 is based on an optimistic scenario for the development of the situation, providing for a fall in GDP by 5,5% with inflation of 26,7% and an average annual exchange rate of 21,7 UAH per $1. The National Bank and the government have already worsened the forecast for a decline in GDP to 7,5%, which was confirmed by the World Bank. Inflation is also significantly higher official data.
In addition, inflation accelerated to 10,8% in March, to 14% in April, and as a result, based on the results of the first four months, it amounted to 37,1%. In annual terms, at the end of April it reached 60,9% - a record high level since September 1996.
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