Rada Increases State Budget-2022 Expenditures By UAH 81 Billion Due To National Debt Increase

The Verkhovna Rada has increased state budget expenditures for 2022 by UAH 80.9 billion due to an increase in national debt.

244 parliamentarians voted for the adoption of Bill No. 7523 as a whole, with the minimum required 226, Ukrainian News Agency reports.

The money will be directed to:

- social assistance (+ UAH 5.7 billion);

- subsidies for housing and utilities services (+ UAH 3.3 billion);

- payments to temporarily displaced persons (+ UAH 32.3 billion);

- pensions (+ UAH 32.3 billion);

- support program for farmers and agricultural producers (+ UAH 1.5 billion);

- Entrepreneurship Development Fund (+ UAH 4 billion);

- Affordable Loans 5-7-9% (+ UAH 4 billion);

- subventions to local budgets for the restoration of critical infrastructure (+ UAH 1.6 billion).

Sources of coverage for these expenses: UAH 4 billion - internal borrowing; UAH 75.43 billion - external borrowing; UAH 1.55 billion - a grant from the European Union.

Thus, the maximum budget deficit and the volume of national debt will be increased.

As Ukrainian News Agency earlier reported, at the end of May this year, the Verkhovna Rada adopted as a basis and as a whole bill No. 7413 on amending the law "On the state budget of Ukraine for 2022," which increases the costs of the general fund of the state budget by UAH 287.1 billion.