KYIV, Oct 31 – Ukraine’s government is projecting the 2023 budget deficit at more than 20% of GDP as the country is fighting off the Russian military invasion, Prime Minister Prime Minister Denys Shmyhal said.

The budget draft that will be soon submitted to Parliament for debate and approval in the second reading. Most of the deficit is due to spending on war that is projected at 18% of GDP, or more than UAH 1 trillion.