Bleyzer Foundation has worsened its outlook for Ukraine's state budget deficit in 2012 from 3.5% to 5% of GDP, Executive Director of the Bleyzer Foundation Oleg Ustenko, said at a round table meeting in Kyiv.

"Unfortunately, we are aware that most of outlooks, which were made for this year, have not come true. And, most of all, the budget deficit could reach 5% of GDP," said Ustenko.

According to the expert, the growth of the budget deficit is due not only to the deterioration in the global economy, but the fact that 2012 was an election year for Ukraine: "Traditionally in an election year the budget deficit expands."

Also, Ustenko praised the current government for the fact that the budget deficit at the peak of the political activity increased by only 0.5 percentage points, but not by 1-2 percentage points, as traditionally happens in countries with emerging markets.

As UKRINFORM reported, the Bleyzer Foundation had earlier predicted that Ukraine would end 2012 with a budget deficit of 3.5% of GDP.


 

ukrinform