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

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)

National'Maunvrat, Maunvrat': Shashi Tharoor Evades Question On Operation Sindoor Debate in Parliament (Watch Video)

NationalCentral Government Employees Can Avail 30 Days Leave for Personal Reasons, Including Elderly Care: Centre

NationalPM Narendra Modi to Speak on Operation Sindoor in Parliament Next Week; 16-Hour Discussion From July 29

Business Realted Stories

BusinessUS risks alienating India with public pressure, warns expert

BusinessGST reforms to give our defense corridors a major boost: Gen Upendra Dwivedi

BusinessStudents should be drivers of innovation-led enterprises: Jitendra Singh

BusinessGST rate cut to boost MSMEs, push exports

BusinessTrump’s tariff war pits US geostrategic interests against Nobel pique, trade claims