Politics 2023-09-15T05:59:37+03:00
Ukrainian news
Rada Approves Budget Declaration For 2022-2024

Rada Approves Budget Declaration For 2022-2024

Rada, Verkhovna Rada, Cabinet, Cabinet of Ministers, state budget, budget declaration

The Verkhovna Rada approved the budget declaration for 2022-2024.

269 MPs deputies voted for the adoption of the relevant document as a whole, with the minimum required 226, Ukrainian News Agency reports.

At an extraordinary meeting on May 31, the Cabinet of Ministers approved the budget declaration for the first time.

The budget declaration provides for a gradual reduction of the state budget deficit from 5.5% in 2021 to 3.5% and 3% in the next two years, respectively, and to 2.7% in 2024.

According to the document, this year the state budget deficit is expected to reach UAH 246.6 billion, in 2022 – UAH 188 billion, in 2023 – UAH 179.8 billion, in 2024 – UAH 179.59 billion.

The Budget Declaration for 2022-2024 is the government's vision of fiscal policy for the medium term.

The document defines the main budget indicators, the goals of state policy in the relevant area with indicators of their achievement and is the basis for drawing up the draft state budget for 2022.

The document contains general indicators of revenues and financing of the state budget, general limit indicators of state budget expenditures, the size of the minimum wage, living wage and other goals of state policy.

When developing the budget declaration, the goals and priorities determined by the program of the President, the program of activities of the Cabinet of Ministers, forecast and program documents of economic and social development, in particular, the National Economic Strategy until 2030, were taken into account.

In the medium term, the government's efforts will be aimed at supporting macroeconomic stability, stimulating the economy to overcome the negative consequences caused by restrictive measures in connection with COVID-19.

Among the priorities of the budgetary policy defined by the budget declaration:

- strengthening the defense capability and security of the state;

- development of the agro-industrial complex;
- formation of a clean and safe environment;
- development of administrative services and their digitalization;
- increased energy independence;
- creation of an effective and perfect system for the implementation of social support and pension provision for the population;
- providing quality, modern, accessible and inclusive education;
- ensuring the quality level of medicine;
- increasing the level of transparency in public finance management.
The budget declaration approved by the government contains proposals for amendments to the Tax Code of Ukraine, which will become a resource base for increasing state budget revenues in the medium term.
As Ukrainian News Agency earlier reported, the Ministry of Finance, in accordance with budget legislation, submitted a budget declaration for 2022-2024 for consideration by the Cabinet of Ministers on May 14.