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Parliament gives first reading to 2018 budget draft

The cabinet is to complete the bill in two weeks.

Parliament gives first reading to 2018 budget draft
Photo: Censor.net.ua

Parliament adopted the resolution on conclusions and suggestions to the draft law "On the state budget of Ukraine for 2018' on 14 November, which means the state budget draft had its first reading. It was supported by 260 MPs, 34 votes more than the required minimum.

Parliament also approved in the first reading two other bills out of the so-called "budget package": "On amendments to the Budget Code" (No 7116) and "On amendments to the Tax code to ensure the balance of budget revenues in 2018" (No 6776-d).

The bills were supported by 251 and 260 MPs respectively.

The Cabinet of Ministers is expected to take parliament's conclusions into account while preparing the state budget draft for the second reading.

It has two weeks for this.

According to the budget draft, the cabinet expects a 3-per-cent economic growth and a 7-per-cent inflation in 2018. The deficit of the state budget will make 2.4 per cent of GDP.