Rada adopts 2024 state budget in 1st reading

The Verkhovna Rada adopted the 2024 state budget in the first reading.

285 MPs voted for the relevant bill 10000, with the minimum required 226, Ukrainian News Agency reports.

The state budget project for 2024 is based on a forecast of real GDP growth for the next year of 5%, inflation of 10.8% (December to December) and an average annual exchange rate of 41.4 UAH/USD.

The limit of the deficit in the state budget for next year is set at UAH 1.59 trillion, which is 20.7%, or UAH 416.8 billion, less than the government's estimate of this year's deficit.

It is assumed that the deficit will be financed almost entirely by external borrowings, as revenues from privatization are planned at the level of UAH 4 billion, and domestic borrowings will be equal to payments due to repayment of the domestic debt - UAH 421.6 billion.

At the same time, the unemployment rate of the population aged 15-70 according to the ILO methodology next year, according to the forecast, may decrease to 13.4% against 18.8% this year.

Revenues of the state budget for the next year are expected at the level of UAH 1.746 trillion, expenditures at UAH 3.308 trillion.

As Ukrainian News Agency earlier reported, Members of Parliament submitted 1,620 amendments to the draft state budget for 2024 for a total additional amount of UAH 12.5 trillion.