Ukrainian President Volodymyr Zelensky has held a meeting with members of the Cabinet of Ministers and representatives of the Office of the Head. In particular, they discussed the state of execution of the state budget for the current year and the introduction of an embargo on trade with Russia. This is reported by the press service of the Office of the President of Ukraine.
According to Prime Minister Denis Shmygal, in the first quarter of the year the state budget was executed by 110%. It is reported that the results of the first two months of the current year and advance tax revenues contributed to this.
However, in the second quarter due to the military invasion of Russia a significant under-implementation of the state budget of Ukraine is predicted.
The sources of replenishment of the state treasury were discussed at the meeting. In particular, this is donor aid, special borrowing rights from the IMF and the like.
It is reported that in case of unfavorable developments the possibility of a temporary reduction in certain social expenditures, starting in May, is being considered. The participants of the meeting noted that it is necessary to get the domestic economy running as soon as possible.
In addition, the President instructed to formalize the cessation of trade turnover between Ukraine and Russia. It is noted that, in fact, import and export operations with the aggressor state have stopped completely since the beginning of the war.
