The council said the 3.4% GDP growth assumed in the budget draft was achievable but pointed to risks posed by the war in Ukraine and European sanctions.
Lower than anticipated growth could put the 3.7%-of-GDP general government deficit target at risk if budget revenue underperforms, it added.
The council said the targeted reduction in state debt to 72.6% by the end of 2025 from 73.2% at the end of 2024 was “realistic,” but warned that sensitivity to exchange rate risk had increased as the ratio of FX debt approached 30%.
In a separate statement, the Ministry of Finance acknowledged the council’s opinion and said the 2025 budget bill would be submitte d to lawmakers on Monday.
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