Cabinet Suggests Rada Increase Expenditures Of State Budget-2023 By UAH 537.2 Billion

The Cabinet of Ministers has suggested that the Verkhovna Rada increase state budget expenditures for 2023 by UAH 537.2 billion.

Member of Parliament from the Servant of the People faction, deputy chairman of the parliamentary committee on economic development Roksolana Pidlasa wrote about this on Facebook, Ukrainian News Agency reports.

According to her, the government decided to send changes to the state budget for 2023 to the Verkhovna Rada.

"Spending increases by UAH 537.2 billion, of which 96.5% is directed to the national security and defense sector," Pidlasa wrote.

Main items of increase in expenses:

- UAH 518.2 billion - increase in spending on the national security and defense sector (most of these funds are directed to the total expenditure on the monetary support of military personnel);

- UAH 19 billion - replenishment of the Reserve Fund of the state budget, which is used for unforeseen and urgent measures (this year, for example, funds of the reserve fund were allocated for the construction of fortifications).

Sources of coverage for the following additional costs:

- UAH 419.3 billion - increase in the deficit of the state budget (in fact: domestic and external borrowing);

- UAH 60.7 billion - increase in revenues of the state budget (due to an increase in income tax on individuals, VAT on goods produced and part of the net profit of state banks);

- UAH 50.3 billion - reduction of public debt servicing costs;

- UAH 6.9 billion - reducing the cost of providing state guarantees.

The MP noted that the Verkhovna Rada will consider this bill immediately.

As Ukrainian News Agency earlier reported, in January-February of this year, the state budget was executed with a deficit of UAH 161.1 billion.

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