KIEV, Feb. 16 – The Ukrainian government and the International Monetary Fund have agreed on budget amendments to widen the deficit from 3.7% to 4.1% of GDP as a condition for new IMF funding, Ukrainian Finance Minister Natalie Jaresko told a press conference.

She said budget revenue would go up by UAH 22.5 billion to UAH 599 billion, while outlays would increase by UAH 35.7 billion to UAH 664 billion, due to the need for direct gas subsidies for households in connection with a growing number of internally displaced persons to 1 million individuals and increased public debt servicing due to the weakening of the national currency.

It is anticipated the budget deficit will grow from UAH 63.7 billion to UAH 76.3 billion.