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Ukraine on verge of economic catastrophe with budget deficit of over $20 bln — expert

Ukraine has debts that exceed 100% of GDP, Andrey Dlighach said

MOSCOW, November 1. /TASS/. Ukraine is currently on the verge of an economic catastrophe, because its budget is short of more than $20 billion, Ukrainian expert and Doctor of Science (Economics) Andrey Dlighach has said.

"Ukraine is on the verge of an economic catastrophe. We account for less than a half of our own spending. We also have debts that exceed 100% of GDP. <...> According to our estimates, our budget is short of over $20 billion," he told the Novosti Live YouTube channel.

Ukraine's budget has been running a record deficit for several years. Its own income covers only military expenses, while everything else was financed by Western aid. Currently, Kiev says it has completely exhausted its own resources to fund military needs and finds it more difficult to find cash every time.

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