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This year, the government submitted the draft state budget for the next year, 2025, to the Parliament on time. Traditionally, as in the previous twenty-plus years, the draft state budget for 2025 was submitted with a deficit, which is to be covered by external and internal borrowing, hryvnia devaluation and an increase in the tax burden. And, unfortunately, the government has traditionally failed to see any opportunities for sequestration of non-core wartime expenditures or additional sources of funding. Read more
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