Poroshenko has approved the introduction of medium-term budget planning in Ukraine

The President of Ukraine Petro Poroshenko signed the document, archival photos

The President of Ukraine Petro Poroshenko has signed a law introducing a medium-term budget planning. Information about this is available on the Parliament website.

The law postpones the date of filing the Ministry of Finance guidelines for budget policy from 1 April until 1 June. The law will in 2017 go to the medium-term budget planning form budget and forecasts immediately for the next three years.

It is expected that using the most relevant macroeconomic indicators, will be able to make more accurate predictions and for the next two years after the planned.

According to the law, the Ministry of Finance together with other Central Executive bodies develops and by June 1, 2017 submits to the Cabinet of Ministers of Ukraine revised the forecast of the State budget of Ukraine for 2018 and 2019 and the draft Main directions of budgetary policy for 2018-2020, which are reviewed and approved by the Cabinet of Ministers within two weeks from the day of their presentation; the Cabinet of Ministers shall, not later than June 15, 2017 the draft Main directions of budget policy for 2018-2020 in the Verkhovna Rada of Ukraine.

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