Ukrainian parliament approves committee conclusions on 2022 state budget bill

The Verkhovna Rada has approved Resolution No. 6000-P "On Conclusions and Proposals to the Draft Law of Ukraine on the State Budget of Ukraine for 2022."

Some 264 MPs voted for the document at a parliament session on Wednesday, October 20, according to an Ukrinform correspondent.

The proposals supported by the budget committee include the provision of UAH 3.3 billion under a new budget program "Financial Support for Road Safety Measures in Accordance with State Programs" with a reduction by the same amount in expenditures for rolling stock upgrades and modernization of railway infrastructure.

The subvention from the state budget to local budgets for the implementation of infrastructure projects and the development of socio-cultural facilities was increased by UAH 1 billion.

The committee also proposed that the Cabinet of Ministers identify before the second reading of the bill the sources of funding for a number of other important changes, including those related to raising social standards, subsidizing local budgets and implementing infrastructure projects.

After that, the Verkhovna Rada began discussing the amendments made to the first reading of the bill, which were not taken into account by the budget committee. The consideration of proposals will continue on Thursday.

Ukraine's draft state budget for 2022 envisages GDP growth of 3.8%, inflation of 6.2% and the U.S. dollar exchange rate of UAH 28.6 per U.S. dollar. The budget deficit is projected to fall to 3.5% next year.

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