State budget-2023: NBU warned about the risks of implementation and did not rule out the issue of money

05 February 2023, 12:39 | Economy
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Nabank estimates show that economic losses this year will be significant. Among other things, the shortage of electricity will also interfere with the receipt of planned tax revenues.. This is stated in the latest "

A rather sluggish increase in state budget revenues is expected, while spending is at the same time lower compared to the actual figures for 2022.

" Worse economic indicators in 2023 than expected during the drafting of the law may reduce the taxable base and, accordingly, budget revenues (if the NBU's base macroeconomic scenario is realized, the shortfall in revenues could be about 4.5%),"

Further steps to roll back emergency tax breaks and improve administration could mitigate these risks.

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According to the law, the deficit is planned to be financed almost entirely by external financing.. The volume of borrowings is estimated at more than 27% of GDP, of which external borrowings account for 25.7% of GDP (more than UAH 1,612 billion, or $38.2 billion). However, only $31.

5 billion in equivalent has now been confirmed, of which €18 billion from the EU and almost $11 billion from the US.

Although the risk of timely receipt of funds is relevant. The NBU does not rule out the issue of money.

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The National Bank of Ukraine during the week - from January 30 to February 3 - bought $5.05 million on the interbank foreign exchange market and sold $782.57 million. This is evidenced by the data of the NBU. That is, the negative balance of interventions amounted to $777.52 million.




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