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Politics 2019-12-06T04:02:58+02:00
Ukrainian news
Rada Adopts 2020 State Budget

Rada Adopts 2020 State Budget

Verkhovna Rada, state budget, state budget 2020

The Verkhovna Rada adopted the law on the state budget for 2020.

280 MPs voted for adoption of bill No.2000 as a whole, with the minimum required 226, Ukrainian News Agency reports.

The Cabinet of Ministers proposed to establish revenues of the 2020 state budget for second reading at the level of UAH 1,093.669 billion, expenses – UAH 1,180.099 billion.

The 2020 state budget deficit will amount to 2.09% of GDP or UAH 94.275 billion (in the first reading, the state budget deficit was proposed at the level of UAH 95.131 billion).

The subvention from the state budget to local budgets for the implementation of the program to provide schools with the necessary equipment will amount to UAH 3.5 billion, and for the improvement of social protection of certain categories of the population – UAH 3.8 billion.

The maximum public debt in hryvnia equivalent will amount to UAH 2,045.1 billion and 45.3% of the projected GDP.

The volume of payments on the repayment of the state debt for 2020 is projected in the amount of UAH 282.1 billion, including the repayment of external debt – UAH 120.3 billion, domestic debt – UAH 161.9 billion.

Payments for servicing the public debt in 2020 are planned at the level of UAH 141.5 billion.

The basis for calculating the indicators of the draft state budget for 2020 was chosen as the scenario of macroeconomic forecast No.1, which provides for real GDP growth of 3.7%, consumer price growth (December to December of the previous year) - 5.5%, average salary – UAH 12,497.

At the same time, the Cabinet of Ministers approved the average annual hryvnia exchange rate at 27 UAH/USD for 2020.

As Ukrainian News Agency earlier reported, the Cabinet of Ministers in the draft state budget for 2020 provided for a 10% reduction in the cost of maintaining officials.

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