Ukraine’s parliament increases budget expenditures by almost UAH 81B

The Verkhovna Rada of Ukraine passed a law to increase the expenditure part of the 2022 state budget by UAH 80.9 billion.

As many as 244 MPs voted for the relevant law “On Amendments to the Law of Ukraine ‘On the State Budget of Ukraine for 2022,” No.7523.

The document proposes that state budget expenditures be increased by UAH 80.97 billion by raising government borrowings by UAH 79.4 billion and proceeds from other assistance provided by the European Union by UAH 1.55 billion.

The implementation of the document will lead to an increase in the limit of the state budget deficit and the limit of the state debt by UAH 79.4 billion. It is planned to direct the funds to: social assistance (+ UAH 5.7 billion), housing subsidies (+ UAH 3.3 billion), payments to IDPs (+ UAH 32.3 billion), pension payments (+ UAH 32.3 billion), program on supporting farmers and rural producers (+ UAH 1.5 billion), the Entrepreneurship Development Fund (+ UAH 4 billion), the state program “Affordable Loans at 5-7-9% ” (+ UAH 4 billion), and subventions to local budgets for rebuilding critical infrastructure ( + UAH 1.6 billion).

As Ukrinform reported, on April 21, the Verkhovna Rada approved amendments to the state budget for 2022, expanding the budget deficit by UAH 200 billion to finance the security and defense sector, as well as support for internally displaced persons.

Ukrainian NGO «Strategic Vision» promote economic, infrastructural and mental reconstruction of Ukraine.