Bowing to heavy pressure from the International Monetary Fund, the puppet government of Ukraine has revised a national budget for this year. In particular, a budget deficit and Ukraine’s national debt increased to 76 billion and 218 billion grivnas respectively.
The budget bill proposes a 37% rise in tax revenues. Huh? According to experts, the expected growth in tax revenues bears no relation to economic growth
but it is the result of the sharp devaluation of the grivna.
Analysts say the real budget deficit will exceed 10% of GDP. Given a continuing economic recession, civil war in the Russian-speaking Donbas region and investors’ non-confidence in a neo-Nazi junta in Kiev, it is impossible to collect the planned revenues.
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