City
Epaper

Ukraine's revenues down in H1 due to COVID-19

By IANS | Updated: August 19, 2020 16:10 IST

.8 per cent, or 38 billion hryvnia, less than planned, authorities said on Wednesday.The deterioration in the country's ...

Open in App

.8 per cent, or 38 billion hryvnia, less than planned, authorities said on Wednesday.

The deterioration in the country's economy is the main reason for the loss of income, Chairman of the Accounting Chamber Valeriy Patskan said on his official Facebook page, Xinhua news agency reported.

Ukraine's real gross domestic product dropped by 6.7 per cent year on year in 2020, and the industrial output decreased by 8.3 per cent, said Patskan, adding that there was also an outflow of foreign direct investment.

The costs of repayment and servicing of public debt amounted to 220 billion hryvnia, or almost a third of the total state budget expenditure in the first half of this year, he added.

Due to the COVID-19 pandemic and its negative impact on the economy, the Ukrainian Parliament amended the state budget for 2020 in April, cutting budget revenues to 975.8 billion hryvnia and increasing spending to 1.27 trillion hryvnia.

( With inputs from IANS )

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: parliamentXinhua
Open in App

Related Stories

NationalWinter Session 2025: Parliament Adjourns Sine Die - Know 8 Key Bills Passed During The 19 Sessions

NationalParliament Winter Session 2025: Congress MP Renuka Chowdhary Defends Bringing Rescued Puppy Into Parliament

NationalPM Narendra Modi Arrives at Parliament House To Cast His Vote for Vice Presidential Election

NationalParliament Security Breach: Man Scales Wall Using Tree to Enter Complex, Caught By Security

Social Viral'What is This?': Jaya Bachchan Snaps at Man Trying to Take Selfie Outside Constitution Club (Watch Video)

Business Realted Stories

BusinessRBI likely to pause rate cuts amid new CPI series unless growth falters: Report

BusinessBSE proposes cap on free order messages, plans charges beyond 10-crore daily limit

BusinessRBI issues compounding order for FEMA violations by Genpact India: ED

BusinessEnglishYaari Raises INR 1 Cr at INR 10 Cr Valuation; Bihar Startup Targets INR 50 Cr ARR by 2027

BusinessIndia’s AI talent base expected to more than double by 2027