Rada Admits Draft 2017 State Budget To Examination

The Verkhovna Rada has admitted the draft national budget for 2017, submitted by the Cabinet of Ministers, to examination.

Speaker of the Verkhovna Rada Andriy Parubiy announced this after the presentation by the Cabinet of Ministers of the draft law (No.5000) on the national budget for 2017, Ukrainian News Agency reports.

«In accordance with article 154 of the procedural regulations of the Verkhovna Rada, the state budget of Ukraine for 2017 shall be deemed as accepted by the Verkhovna Rada for further work,» Parubiy said.

In keeping with the law on the Rada's procedural regulations, after the discussion of the bill on the state budget for the next year, the Parliament may decide to reject it should it not meet requirements of the Budget Code or the principal stances of budgetary policy for the next year.

If the Rada after the Cabinet's presentation of the draft state budget for the next year does not reject it, it shall be deemed as admitted by the Parliament to examination.

As Ukrainian News Agency earlier reported, the Cabinet of Ministers has proposed that the Rada pass the 2017 state budget with UAH 706.3 billion revenues and UAH 775.3 billion expenditures.