Deputy Minister of Finance Yevgeniy Kapinus discusses the draft state budget for 2017 with external experts

10/13/16

On October 13, Deputy Minister of Finance Yevgeniy Kapinus participated in the round table “State budget and budget process 2017: can they be improved?” The event was also attended by experts representing the Reanimation Package of Reforms, Kyiv School of Economy, National Institute for Strategic Studies, Center for Political Studies and Analysis “Eydos”, Institute for Economic Studies and Political Consultations, Center for Economic Strategy, Institute for Social and Economic Transformation, CASE-Ukraine, Dragon Capital and others.

During the discussion, leading experts in budgetary policy expressed their professional opinion about the draft state budget for 2017 and its impact on the economic development of Ukraine. Most of the experts participating in the event had been engaged in the development of the state budget for 2017 checking the calculations. Civil experts had also assisted the Ministry of Finance in increasing the effectiveness of the use of public funds when covering the essential needs of the citizens. The civil experts community pointed out that this cooperation made the budgetary process really open and transparent for the first time.

According to Deputy Minister of Finance Yevgeniy Kapinus, the Government presented the budget which makes it possible to generated the expected revenues without putting business under pressure, but fostering economic development instead.

“This year, the Ministry of Finance has changed its key approach to the budget calculation – first, we looked into our revenues and available capacities, and on that basis we planned our expenses. As a result, we have a realistic budget for 2017 where all expenses are covered by revenues. Moreover, the Government approved the draft budget and presented it to the Parliament on time. Thus, the MPs and all interested parties will have enough time to study it”, Yevgeniy Kapinus said.

Another remarkable feature of the state budget for 2017 is that it has clear priorities fully covered by the necessary funding. These priorities do not depend on the necessary volume of funding, but on the real necessity to reform and develop the respective area. The key priorities in the state budget for 2017 include defense, diplomatic activities, social welfare, education, healthcare, agriculture, road infrastructure, energy efficiency, culture and decentralization.

The Ministry of Finance remains open to a dialogue and is ready to discuss the draft state budget. We expect a fruitful cooperation as well as the final adoption of the state budget for 2017 by the Parliament.

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