Kyiv: Ukraine's budget deficit to be 35% of GDP by late 2022

By the end of 2022, Ukraine's state budget deficit will be approximately equal to $50 billion, which is 30-35 per cent of the country's GDP.

The Ukrainian presidential adviser on economic issues, Oleg Ustinenko, made the remarks on the air of the all-Ukrainian telethon, Kommersant reports.

"Our state budget has a monthly deficit of about $ 5 billion. And we planned that it would be 7 billion for the whole year, but we received it in a month. I would expect that by the end of the year we will have a global budget deficit of about $50 billion. This will be about 30-35 per cent of our GDP. This is a very big deficit. This is the problem of war. That's why there is such a shortage," Ustinenko said.

At the end of May, Ukrainian Finance Minister Serhiy Marchenko said that the country's budget is only one - third formed from its own income, the rest is foreign grants and loans. Earlier, in an interview with the BBC, Ukrainian Prime Minister Denys Shmyhal said that Ukraine's budget deficit is $ 5 billion monthly, and 35 per cent of the country's economy is not functioning due to a military special operation.