The Rada meets in special session today to debate a revised coronavirus emergency budget that allows for a tripling of the deficit to $11 billion. With much of the nation’s economy shut down for two months, tax revenues are to fall by $4.3 billion. Spending is to go up by $1.1 billion, largely to pay higher salaries to medical workers, to increase pensions and to pay for medical equipment. Up to $10 billion in low interest funding could be unlocked with an IMF deal. But it is unclear how the Rada will deal with the 16,335 amendments placed on the key piece of legislation – the ‘anti-Kolomoisky’ bill.
The Rada meets in special session today to debate a revised coronavirus emergency budget that allows for a tripling of the deficit to $11 billion.
