The three-year budget: the Cabinet decided on-new to plan costs and revenues of Ukraine

The Cabinet of Ministers of Ukraine approved an updated concept of public financial management, introducing medium-term budget planning for a period of three years or more. The paper was presented at the Cabinet meeting, Finance Minister Alexander Danyluk.

According to danyluk, the document is systematic and strategically important because it introduces the practice of making medium-term fiscal declarations, change the policy of public debt management in the direction of its reduction in the medium term to 60% of GDP.

“It is important that this document was real. We have already prepared a plan of action during the week send in all the authorities”, – said danyluk, adding that the Ministry of Finance has expected the authorities forecast data and plans in 2017 in the medium term.

Commenting on the need for the document, the Prime Minister Volodymyr Groysman said: “This is an important strategy. There are some specific steps that will leverage billions of state budget”.

We will remind, on budget planning for the next three years, the ex-Minister of Finance Natalia Jaresko said at the end of 2015.