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Politics 2019-09-15T06:09:12+03:00
Ukrainian news
Holos Ukrainy Publishes Law On 2017 State Budget

Holos Ukrainy Publishes Law On 2017 State Budget

The Verkhovna Rada’s official Holos Ukrainy newspaper has published the Law on the National Budget for 2017.

The law was published on Wednesday, and takes effect on January 1, 2017, Ukrainian News Agency reports.

The document approves the 2017 outlook on the growth of gross domestic product at 3% at the inflation rate of 8.1%.

The draft state budget for 2017 was grounded on the macroeconomic growth scenario that envisions real GDP growth of 3% and nominal GDP growth to UAH 2,584.9 billion.

It is expected that inflation (December-to-December) will be 8.1% and the producer price index (December-to-December) 108.5%.

The minimum pay is projected to be UAH 3,200.

The document also expects UAH 17.1 billion in proceeds from privatization.

The ceiling of the public-sector debt at end-2017 is set at UAH 1,716.630,217 billion.

The law binds the National Bank to transfer UAH 45 billion profit to the state budget.

The document also provides for narrowing the Pension Fund's deficit 9.5%, to UAH 141.315 billion.

The document fixes revenue at UAH 721,398.426 million and expenditure at UAH 790,393.530 million.

The law earmarks UAH 1 billion of subsidies to covering the difference in the prime cost of coal production by state-owned mines and UAH 847.1 million for restructuring of the peat and coal industries (dissolution of mines).

As Ukrainian News Agency earlier reported, the Verkhovna Rada on December 21 adopted the Law on the National Budget for 2017.

Speaker of the Verkhovna Rada Andriy Parubiy signed it on December 23 and President Petro Poroshenko signed it on December 26.

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