Ukrainian parliament passes 2017 budget with 3% deficit

Ukrainian parliament passes 2017 budget with 3% deficit
# 21 December 2016 04:39 (UTC +04:00)

The budget was approved with 274 out of 450 votes in favor, with a minimum threshold of 226 votes, APA reports quoting Sputnik.



The first reading of the draft was held on Tuesday. The Ukrainian government based the budget on a 8.1 percent inflation forecast.

The country's President Petro Poroshenko insisted on a $5.1 billion defense budget, coming to 5 percent GDP, up from $4.3 billion.

This year's budget was approved in December 2015 and had a deficit of 3.7 percent GDP with an inflation rate of 12 percent.

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THE OPERATION IS BEING PERFORMED