Economy 2024-02-15T05:02:50+02:00
Ukrainian news
Rada Adopts State Budget-2023

Rada Adopts State Budget-2023

budget, state budget, law on state budget, state budget 2023

The Verkhovna Rada has adopted a law on the state budget for 2023.

295 parliamentarians voted for the adoption of bill No. 8000 in the second reading, with the minimum required 226, Ukrainian News Agency reports.

According to the Ministry of Finance, the common resource for national security and defense remained unchanged - UAH 1,141.1 billion, or 18.2% GDP.

The projected budget deficit of 2023 is more than 20% of GDP.

The Ministry of Finance continues to work on attracting international assistance from the European Union, the United States, the International Monetary Fund and other reliable partners of Ukraine to cover the deficit.

In the approved bill, the government took into account the adjusted forecast for GDP growth for 2023 to 3.2% (instead of the previous forecast of 4.6%), taking into account the preservation of high security risks, as well as the risks of continuing attacks on objects of the energy system of Ukraine and other objects of critical infrastructure of Ukraine.

Instead, the inflation forecast decreased from 30% to 28%.

Due to adjusted macro indicators and tax changes, the revenue part of the state budget was proposed to increase by more than UAH 50 billion.

Thus, the revenues of the state budget-2023 are provided in the amount of UAH 1.3 trillion.

Spending will amount to UAH 2.6 trillion, which is UAH 66.8 billion more than in the draft state budget for 2023, presented for the first reading.

In particular, the volume of expenses for the payment of pensions increased (by UAH 38.9 billion - up to UAH 271.9 billion), the Fund for the Elimination of the Consequences of Armed Aggression (by UAH 16.1 billion - up to UAH 35.5 billion), as well as for scientific and technical activities, preferential loans for internally displaced persons and for the development of entrepreneurship.

As Ukrainian News Agency earlier reported, on October 7, the Verkhovna Rada adopted as a whole the conclusions and proposals to the bill on the state budget for 2023, which means the adoption of the state budget in the first reading.