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State budget deficit in 2023 covered from external sources by almost 70% – head of Rada Budget Committee

KYIV. Feb 17 (Interfax-Ukraine) – As of February 15, foreign aid accounted for 68.8% of the sources of financing the state budget deficit since the beginning of this year, Head of the Verkhovna Rada budget committee Roksolana Pidlasa told Interfax-Ukraine on Friday.

“Compared to last year, we see an increase in the share of foreign aid in funding sources. It’s primarily due to the fact that, unlike last year, the National Bank does not redeem government bonds. Therefore, monetary funds are not attracted to cover the deficit of state budget,” she said.

Pidlasa said that the state budget has already received UAH 171.9 billion from international partners. The largest share is macro-financial assistance from the EU (EUR 3 billion) and grant assistance from the United States ($1 billion).

“At the same time, the government continues issuing war bonds – debt obligations, which make up about 31% of all sources of budget financing,” the MP added.

As reported, the state budget of Ukraine for 2023 was approved with a deficit ceiling of UAH 1.297 trillion, including UAH 1.125 trillion for the general fund.