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Economy 2019-04-15T04:20:03+03:00
Ukrainian news
Rada Adopts State Budget For 2019

Rada Adopts State Budget For 2019

The Verkhovna Rada of Ukraine has adopted the state budget for 2019.

A total of 240 parliamentary members backed respective bill 9000, when 226 votes were enough to pass the decision, the Ukrainian News Agency reports.

The bill states that all calculations are based on the expected hryvnia exchange rate of 29.4 UAH/USD as at the year-end.

At the same time, the gross domestic product growth is expected to be 3% while the nominal GDP will grow to UAH 3,946.9 billion.

Consumer prices index next year is expected to be 7.4% while the producers prices index - 10.1%.

On October 18, the Verkhovna Rada adopted the first reading of the state budget for 2019.

The document provided for setting of the living wage at UAH 1,853 and the minimum wage at UAH 4,173 from January 1, 2019.

In mid-November, the Ministry of Finance of Ukraine updated the draft state budget for 2019 and tabled it for consideration of the Ukrainian Parliament.

According to the ministry, the revenues of the state budget for 2019 are expected to make UAH 1,026.1 billion, including the revenues of the general fund of the state budget of UAH 928.5 billion and the revenues of the special fund of the state budget of UAH 97.6 billion.

The expenditures within the draft state budget for 2019 are expected to be UAH 1,112.1 billion.

The ceiling deficit of the state budget is set to be UAH 89,989.3 million.

The major factors that effected the revision of the state budget revenue indicator outlook for the second reading were: accountancy of the budget conclusions positions on boosting National Bank of Ukraine's allocations to the state budget by UAH 2 billion; revision of some revenues, in particular, the tax on enterprises' profits (raised by UAH 2.9 billion) at the expense of specified expected tax proceeds in 2018, subsoil use rents for production of natural gas (raised by UAH 9 billion) at the expense of an increase in the gas price for household consumers and heat energy producers; and proceeds of state-financed establishments (raised by UAH 1.4 billion).

The document also includes additional resource in view of adoption of the law 8487 as to levying of an excise tax on passenger vehicles (raised by UAH 1 billion).

The expenditures for boost of defense capacity and security of the state in 2019 are set at UAH 211.9 billion (including UAH 5 billion of state security).

The draft state budget for 2019 also provides for a resource for construction of new roads (UAH 55 billion) including UAH 50.4 billion from the Road Fund and UAH 4.6 billion from international donor organizations.

As Ukrainian News Agency earlier reported, on September 15, the Cabinet of Ministers of Ukraine tabled the draft state budget for 2019 for Verkhovna Rada's consideration.

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