KIEV (Reuters) – Ukraine plans to increase state borrowings to 642.7 bln hryvnias ($22.8 bln) in 2020 from an earlier projected 365.2 bln hryvnias to cover the larger-than-expected budget deficit and debt payments, the government said on Monday.
External borrowings may rise to 265.1 bln hryvnias ($9.4 bln) from 134 billion, it said in a statement submitted to the parliament for a revised 2020 budget. It did not specify the sources of the external borrowings.
At the same time, revenue expectations from privatizations have been cut to 0.5 billion hryvnias from 12 billion.
Ukraine’s government on Monday proposed trebling the 2020 budget deficit to 298.4 billion hryvnias ($10.65 billion) from the earlier estimate of 96.3 billion hryvnias, due to the economic impact of the coronavirus epidemic.
(Reporting by Natalia Zinets; editing by Matthias Williams)
