The proposals to the draft budget-2020 bill made by OPPOSITION PLATFORM – FOR LIFE provide for GDP growth from 3 percent to 6 percent. According to MP Serhiy Lovochkin, the government must accept the opposition’s proposals and make economy development a priority in their agenda.

“The government continues the traditions set by its predecessors who were saving up on social expenses instead of stimulating economy development which leads to budget income increases. OPPOSITION PLATFORM – FOR LIFE believes that a number of steps must be taken immediately, aimed at increasing Ukraine’s GDP to 6 percent in 2020 and raising social expenses as well,” Lovochkin said.

The politician believes that lifting economic blockade from the Donbas territories uncontrolled by the Ukrainian government must be one of the first steps of the new administration this year. It will provide for at least 1 percentage point GDP growth.

Lovochkin also said that measures on increasing budget incentives for economic restart must be taken as well. Economic revival, he believes, will be supported by more rapid increase of minimum salaries, pension and social payments, infrastructure expenses raise, export support, and increase in investments for the regions, which altogether will bring another 1 percentage point of GDP growth.

Another 1 percentage point of GDP increase will be brought by unshadowing and improvements in investment climate, including through more efficient state procurement system, better order in the agricultural land market, higher control of transfer pricing, and minimization of other schemes that provide for tax avoidance.

“The government representatives have been voicing separate points from these directions, but a comprehensive approach is needed. If the administration accepts amendments to the state budget-2020 proposed by OPPOSITION PLATFORM – FOR LIFE, this will allow for faster economy restart and improve situation in the social sector,” Lovochkin said.

As reported, OPPOSITION PLATFORM – FOR LIFE had proposed a package of amendments to the state budget bill for 2020 together with a number of other bills aimed at improving social and economic situation in the country.