Ukraine’s government has officially approved its budget declaration for the period 2026-2028, detailing a comprehensive strategy to cut the state budget deficit. The proposed reductions aim to bring the deficit from its current level of 19.4% of GDP down to 9.9% in 2026, 5.2% in 2027, and finally 3.8% in 2028.
According to the budget declaration, the government plans to implement a series of fiscal reforms and austerity measures to achieve these deficit targets. These measures include reducing public spending, increasing tax revenue, and improving the efficiency of public expenditures. The government has also emphasized the importance of maintaining macroeconomic stability and ensuring sustainable economic growth during this period.
The reduction in the budget deficit is seen as a critical step towards Ukraine’s long-term economic recovery and integration into international financial markets. The government has stated that these measures will be accompanied by structural reforms aimed at improving the business environment and attracting foreign investment. The budget declaration has been widely welcomed by international financial institutions, which have praised Ukraine’s commitment to fiscal responsibility and economic reform.