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Parliament adopts state budget for 2024 as a whole

The main item of expenditure is defence - 22.1%, or UAH 1.69 trillion - will be allocated to the security and defence forces.

Parliament adopts state budget for 2024 as a whole
Photo: rada.gov.ua

Today, parliament adopted the bill on the state budget for 2024 as a whole, the chairman of the budget committee, Roksolana Pidlasa, has said.

"By the second reading, the draft budget has undergone minimal changes. Every Ukrainian hryvnya will be used to protect the state," Pidlasa wrote.

She noted that the revenue plan was increased by UAH 22.2 billion due to an increase in VAT on goods imported into Ukraine, as well as bank income tax, import duties and rent.

The main item of expenditure is defence - 22.1%, or UAH 1.69 trillion - will be allocated to the security and defence forces.

Expenditures are also envisaged for the development of the defence industry: UAH 43 billion for the production of UAVs, as well as UAH 43 billion for the production of ammunition and weapons in Ukraine. 

Funds for the national security and defence sector are covered exclusively by domestic revenues: taxes, customs duties, dividends of state-owned companies, privatisation and funds from the placement of domestic government bonds.

The rest of the expenditures falls within the budget deficit, which is envisaged at UAH 1.57 trillion. The state budget will be financed by external borrowings (UAH 1.67 trillion) and placement of domestic government bonds (UAH 525.9 billion), as well as by privatisation proceeds (UAH 4 billion).

Of these funds, almost UAH 470 billion will be allocated for social protection. Support for veterans will be doubled compared to the previous year - almost UAH 15 billion, of which UAH 1 billion will be spent on prosthetics for soldiers.

State budget expenditures on healthcare and education will amount to UAH 201 billion and UAH 69 billion respectively.

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