Business news from Ukraine

UKRAINIAN CABINET OF MINISTERS EXPECTS REDUCTION OF BUDGET DEFICIT BY HALF

According to Prime Minister Denys Shmyhal, the approved documents provide for the reduction of the budget deficit by almost half and the return of this indicator to the planned 3% in 2023.
“The public debt is planned to be reduced to less than 50% of GDP,” Shmyhal said.
At the same time, from 2023, Ukraine will be able to enter a stable trend of economic development by 5% per year, he said.

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KPMG ANNOUNCES REDUCTION IN REVENUE IN UKRAINE IN 2020 FY TO UAH 552 MLN

KPMG has announced a reduction in revenues in Ukraine in the 2020 financial year to UAH 552 million compared to UAH 561 million in 2019.
“For a year of economic and social turbulence, KPMG International announced the total annual income of KPMG firms in the amount of $ 29.22 billion for the fiscal year that ended on September 30, 2020 against $ 29.75 billion in 2019. In Ukraine, KPMG’s revenues for the 2020 fiscal year were UAH 552 million against UAH 561 million in 2019,” the company said in a release on its website.
“This applies to the business of our clients, as well as all our services in the field of audit and activities in the field of taxation and consulting. We introduce innovations and work closely with our strategic alliances to help clients transform their business into a digital format,” the press service said citing Andriy Tsymbal, the managing partner of KPMG in Ukraine.

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