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Draft state budget 2023 approved with GDP growth by 4.6%, inflation growth to 30%, average annual exchange rate of UAH 42/$1 – PM
KYIV. Sept 14 (Interfax-Ukraine) – The draft state budget for 2023, which the government approved on Tuesday, is based on a forecast of 4.6% growth in real gross domestic product (GDP) and 37% nominal growth with inflation up to 30% and an average annual exchange rate of UAH 42/$1, Prime Minister Denys Shmyhal said.
"We considered many different scenarios. This draft budget, which we are submitting to the Verkhovna Rada, is a conservative average pessimistic calculation," he said, speaking at a government meeting on Tuesday.
According to Shmyhal, this macro forecast is a consensus between the government, the National Bank and international financial organizations.
"This year we live in a situation where the budget is reviewed every month depending on the priority funding needs. Next year, at least its beginning, will follow a similar scenario," the prime minister said.
He specified that the monthly deficit of the 2023 state budget is over $3 billion, and the government is already working to ensure its financing with international partners.
Shmyhal stressed that the situation with the budget, macro forecast, economic recovery directly depends on the situation at the front.
"Depending on how the situation at the front changes, the economy in 2023 may fall by 0.4% or grow by 10% or more. The same goes for other indicators. Therefore, I emphasize once again: the current macro forecast is a rather conservative scenario, because we must be ready for any scenarios," he said.
The head of government specified that the average salary in 2023 will be approximately UAH 18,500.
As reported, this year the government estimates the need for financing the budget at $5 billion a month. The Ministry of Economy expects that the decline in GDP this year will be 33.2%.
