Cabinet plans to cut borrowing by 0.5% in 2015 – national budget

State borrowing in 2015 will total UAH 293.84 billion, including UAH 180.97 billion on the foreign market, according to tables to the law on the 2015 national budget, posted on the parliament's website.

According to the tables, UAH 14.16 billion will be raised for the special budget fund as international financial organizations credits.

The state is to repay debt worth UAH 158.88 billion this year, including UAH 97.6 billion in foreign debt.

Taking into account tentative data from the State Treasury Service, state borrowing in 2015 will be cut by 0.5%, including borrowing on the domestic market – by 44.8%, while borrowing on the foreign market will double.

Payments of state debt in the 2015 national budget will be 31.5% more than payments in the 2014 national budget, including 84.9% more for foreign debt, while repayment of state domestic debt will decrease by 10%.

The 2015 national budget allocated UAH 74.66 billion for servicing of state debt, 55.6% up on treasury data for 2014.

The tables also contain the forecast for privatization revenues for this year at UAH 17 billion, which is in line with the budget privatization plan for 2014, which the government cut to UAH 400 million in November 2014.

The tables also state that the government plans to buy back securities worth UAH 88.29 billion, with an allowance for this amount to be exceeded.