The Verkhovna Rada has increased the reserve fund of the state budget by UAH 200 billion.
A total of 296 MPs voted for the adoption of bill 7299, with the minimum required 226, Ukrainian News Agency reports.
Thus, the document increases the limit of the state budget deficit for 2022 to UAH 456.36 billion (or 1.8 times the previously increased figure).
According to the bill, the expenditures of the general fund of the state budget under the budget program "Reserve Fund" were increased by UAH 200 billion by increasing state borrowing by this amount - with a corresponding increase in the maximum volume of public debt and the state budget deficit.
These additional funds from the state budget reserve fund are directed exclusively to security and defense measures, as well as to financial support for internally displaced persons.
Besides, according to the document, from May 1, 2022 (instead of January 1, 2023), a new mechanism for automatically transferring excise tax on the sale of tobacco products, tobacco and industrial tobacco substitutes and liquids used in electronic cigarettes to local budgets will be launched.
The bill also introduces a new procedure for levying excise tax on the sale of tobacco products by paying it by manufacturers and importers of tobacco products and a new mechanism for automatically crediting such a tax to local government budgets.
As Ukrainian News Agency reported, earlier the Verkhovna Rada increased the revenue and expenditure side of the budget by UAH 26.5 billion.
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