Date: 4 weeks ago   Category: Financial

The Cabinet of Ministers has told how will lower a national debt to 49% of GDP


For reduction of a debt load on the budget the government plans to reach the uniform schedule of repayment of a debt with continuation of terms of the main payments. The cabinet of Ukraine intends to reduce until the end of 2020 the size of a public debt to 49% of GDP. Achievement of the uniform schedule of repayment of a debt with continuation of terms of the main payments is for this purpose supposed, it is told in the Information bulletin of the government. "Purpose: until the end of 2020 to reduce the national debt size to 49% of GDP. To reduce a debt load on the budget, the government plans to reach the uniform schedule of repayment of a debt with continuation of terms of the main payments. It will allow to avoid the peak payments which are excessively pressing on the budget and distracting a considerable resource which can be directed to carrying out further structural reforms", - it is said in the text of the document. It is specified that for performance of this task the Ministry of Finance will gradually increase attraction of the long-term preferential financing providing further deepening of cooperation with the international financial institutions in structure of a national debt. "Such cooperation allows to attract cheap loans, including on infrastructure projects and to strengthen economic growth", - it is said in the messenger. As count in the government, reduction of debts will also be promoted by the planned increase in loans in hryvnia (including at the international investors) that will reduce risks of growth of a debt at currency fluctuations. "For this purpose the Ministry of Finance will begin to develop domestic market of loans. Including conditions for foreign investors to make investments in the state securities nominated in national currency will be created", - it is said in the statement. The Cabinet of Ministers has also emphasized, that expansion of base of investors and simplification of access for them to domestic market of loans has to reduce also the cost of loans that will also reduce debts and will allow to avoid risk of increase in a national debt at course fluctuations. "Cheap loans will allow to accelerate economic growth. Therefore the government plans to continue cooperation with the international financial institutions and the foreign governments on attraction of preferential crediting. Will simplify this work and improvement of rating of Ukraine as borrower. Also in the future it will promote reduction of cost of loans", - it is noted in the magazine. We will remind, the state budget of Ukraine for January-July, 2018 is executed with deficiency at the level of 13,356 billion UAH. Also it was reported that Ukraine and the EU will soon sign the agreement on conditions of receiving a tranche of macrofinancial aid in one billion euros. News from the Correspondent.netv of Telegram. Subscribe for our https://t.me/korrespondentnet channel

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