Ukrainian parliament approves emergency budget with new deficit of 7.5% of GDP

Ukraine's parliament on Monday approved a revised budget for 2020 drafted by the government to deal with the economic fallout of the coronavirus epidemic.

The revised budget envisages the deficit rising to 7.5% of gross domestic product, compared with an earlier target of 2.1%, and the economy contracting by 4.8% due to strict lockdown measures imposed in Ukraine and around the world.