Considerable budget shortfall projected in second quarter of 2022 - Ukrainian PM

KYIV. April 7 (Interfax-Ukraine) - A considerable budget shortfall is projected in the second quarter of 2022 due to the recent events, Ukrainian Prime Minister Denys Shmyhal said.

The state budget was fulfilled by 110% in the first quarter of this year, which was due to the results of the first two months of 2022 and advance tax revenues, the prime minister said.

"In the second quarter, a significant shortfall of the state budget of Ukraine is projected," Shmyhal was quoted by the presidential press service following a meeting between the president and the government on the state budget fulfillment.

It was reported that the meeting participants discussed possible sources of filling the treasury. In particular, they include assistance from donors, special drawing rights of the International Monetary Fund (IMF), etc.

It is noted that the possibility of a temporary reduction in certain social expenditures is being considered starting from May in the event of an unfavorable development of events.

To prevent such a scenario, the meeting participants said it is necessary to start the work of the domestic economy, both heavy industry and small and medium-sized businesses, as soon as possible.