Economy 2021-10-15T05:22:34+03:00
Ukrainian news
Rada Cuts State Budget 2020 Revenues By UAH 119.7 Billion To UAH 975.8 Billion, Ups Expenditures By UAH 82.4 B

Rada Cuts State Budget 2020 Revenues By UAH 119.7 Billion To UAH 975.8 Billion, Ups Expenditures By UAH 82.4 Billion To UAH 1,266.4 Billion

Rada, Verkhovna Rada, state budget, Revenues, deficit, expenditures, state budget 2020

The Verkhovna Rada has reduced the revenues of the state budget for 2020 by UAH 119.745 billion to UAH 975.834 billion and increased expenditures by UAH 82.4 billion to UAH 1,266.423 billion, increasing the maximum deficit 3.1 times from UAH 96.275 billion to UAH 298.404 billion.

249 parliamentarians voted for the adoption of the bill on amendments to the state budget (No. 3279-d) as a whole, with the minimum required 226, Ukrainian News Agency reports.

In particular, the income of the general fund is reduced by UAH 119.763 billion to UAH 855.408 billion, of the special fund is increased by UAH 0.016 billion to UAH 120.426 billion.

The amount of expenses of the general fund increases by UAH 82.4 billion to UAH 1,135.078 billion, of the special fund - to UAH 131.344 billion.

The maximum amount of government debt under this document has been increased from UAH 2.045 trillion to UAH 2.387 trillion for the end of 2020.

The state budget deficit remained unchanged compared with the previous version of the bill – UAH 298.404 billion.

According to updated macro-indicators and those released on April 3, for the current year, GDP decline is projected at 4.8%.

Inflation is expected at 11.6% (December to December).

At the same time, the average annual growth in consumer prices is projected at 6.8%.

The nominal average salary is projected at the level of UAH 10,706, the profit of enterprises – UAH 749.3 billion, unemployment - 9.4%.

As Ukrainian News Agency earlier reported, on March 30, the Rada failed to adopt the draft amendments to the state budget (bill No. 3279) and sent the first reading of the bill for reconsideration.

Its revised edition was approved by the Rada Budget Committee on April 11 and registered under No. 3279-d.


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