Parliament increases revenues and expenditures of 2021 state budget by almost UAH 40B

The Verkhovna Rada of Ukraine approved amendments to the state budget for 2021, which provides for an increase in revenues and expenditures by almost UAH 40 billion.

Some 256 MPs voted in favor of the bill at its second reading and in its entirety, No.6052, "On Amendments to the Law of Ukraine ‘On the State Budget of Ukraine for 2021” to implement social measures and infrastructure projects, an Ukrinform correspondent reported.

The document proposes increasing revenues and expenditures of the general fund of the state budget by UAH 39.41 billion. The increase will be possible due to revenues received from taxes on corporate income - UAH 30 billion, VAT on goods (works, services) produced in Ukraine, taking into account budgetary refunds - UAH 2 billion, VAT on goods imported into the customs territory of Ukraine - UAH 6.66 billion, fees collected from the acquisition of car ownership rights - UAH 0.75 billion.

These funds are directed primarily to pay benefits and housing subsidies to citizens - UAH 12.05 billion, Ukravtodor for road construction - UAH 15 billion, salaries to the Ukrainian Armed Forces servicepersons - UAH 4.8 billion. The document also provides for an additional allocation of UAH 4 billion for subventions to local budgets for the construction of social and cultural facilities and transport infrastructure, and UAH 1 billion for the repayment of wage arrears to coal miners.

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