Ukraine 2016 State Budget to Be Base for Reforms Implementation - President

Ukraine's newly-adopted state budget for 2016 is expected to be the base for implementation of reforms in the country, President Petro Poroshenko said Friday.

KIEV (Sputnik) — Earlier on Friday, the Ukrainian parliament, Verkhovna Rada, has adopted the state budget for 2016 with a deficit of 3.7 percent of GDP.

"The budget is the base for the implementation of reforms, without which the country cannot effectively continue to exist," Poroshenko was quoted as saying by the Ukrainian Channel Five broadcaster.

The adoption of the budget was one of the main conditions for the release of a $1.7-billion loan from the IMF to Ukraine.