The Ukrainian government has approved a draft budget for 2022

with a deficit of 3.5%, Reuters has reported. The gross domestic product (GDP) deficit is down from 5.5% in 2021. Speaking during a televised government meeting, the Prime Minister, Denys Shmygal said: “The budget for 2022 is not only balanced and realistic but also the budget for modernizing the country, restoring the economy and investing in people, in their health, education, and development. The draft is based on a forecast of 3.8% economic growth next year compared to about 4% expected in 2021. Inflation is expected to slow to 6.2% in 2022 from about 10% this year”.