The budget bill passed by the parliament poses huge risks for the country. This was stated by OPPOSITION PLATFORM – FOR LIFE MP Serhiy Lovochkin.

“OPPOSITION PLATFORM – FOR LIFE has not supported this draft budget bill for it does not provide for expenses on higher social standards, wages, and pension payments. The budget does not provide for economic development resources. OPPOSITION PLATFORM – FOR LIFE could not vote for this budget,” Lovochkin stated.

The MP said he was worried about rapid growth of the state’s foreign debt caused by mass sales of domestic government bonds.

“Total debt for the domestic government bonds, and this debt is a debt of every Ukrainian, is 807bln hryvnia. In 2019, key buyers of the bonds have been nonresidents, and their share in the domestic government bonds portfolio has grown by almost 100bln hryvnia since early 2019. This is mostly ‘fast bucks,’ venture capital, which can be moved out of Ukraine really quickly.”

The MP believes that the government does not have a solution for this challenge.

“We do not understand how the administration is going to solve this issue. And they don’t explain how they will solve this issue. Therefore, we see huge risks in the budget for the next year,” Lovochkin explained.