Rada approves state budget for 2024
MP Yaroslav Zhelezniak from the Voice parliamentary faction announced the adoption of the relevant law, Ukrinform reports.
The document was supported by 276 MPs, he said.
When preparing the draft law for the second reading, the revenue side of the state budget was increased by UAH 22 billion, while expenditures remained at the same level. The budget deficit was reduced by UAH 22 billion to UAH 1.57 trillion. At the same time, the amount of necessary external borrowing was reduced by UAH 106 billion (from USD 42.9 billion to USD 41 billion in equivalent). The estimate of domestic borrowing needs increased by UAH 104 billion.
The document has been finalized taking into account the amendments to Section VI of the Budget Code of Ukraine regarding the distribution of military personal income tax adopted the day before.
Also, in the course of preparing the document for the second reading, a number of macroeconomic indicators used to calculate revenues and some expenditures, in particular, public debt service, were slightly improved.
The expected consumer inflation rate decreased from 10.8% to 9.7% in annual terms, and the average estimated hryvnia exchange rate was reduced from UAH 41.4 per USD (when the first version of the draft law was prepared) to UAH 40.7 per USD.
More details about the parameters of the future state budget will be available in a few hours in an analytical material by Ukrinform.
As reported, on November 8, the Verkhovna Rada supported the draft law On Amendments to Section VI of the Budget Code of Ukraine on Ensuring Support for the State's Defense Capability and the Development of the Defense Industry of Ukraine in the second reading. According to Finance Minister Sergii Marchenko, the resources from the redistribution of military personal income tax will now be used to develop the defense industry and purchase drones. Local communities will be financially protected: in 2024, more than UAH 62 billion will be allocated to communities in the form of subventions and grants (in addition to the 2021 figures).
