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According to the prime minister, the draft state budget for 2021 foresees revenue of one trillion 92 billion hryvnias and expenditures of one trillion 328 billion hryvnias.
Shmygal pointed out that the revised budget foresees a hole of 5.5% of GDP / photo by UNIAN
The draft state budget for 2021, which will be presented to the Verkhovna Rada for approval at second reading, foresees a deficit of 5.5% of gross domestic product.
Read alsoEvery second hryvnia of the 2021 budget will go to pay off debts – Dubinsky
This was stated by Prime Minister Denis Shmygal during today’s government meeting.
“An opportunity has been found to reduce the budget deficit to GDP from 6%, as proposed in the first reading, to 5.5%,” he said.
According to the prime minister, the draft state budget for 2021 foresees revenue of one trillion 92 billion hryvnias and expenditures of one trillion 328 billion hryvnias.
“We had a lot of joint work and consultations with people’s deputies, experts, we took into account most of the proposals, based on the priority of expenses, the existing possibilities of the resource part of the budget and the state of the national economy. The key aspect is that the budget remains balanced and realistic for its implementation, “he added. he said.
As added by the Minister of Finance, Sergei Marchenko, during the preparation of the document, 2,451 proposals were received from the people’s deputies, most of which were taken into account, based on the priority of expenses.
“In the finalization process, we consulted with the mission of the International Monetary Fund to form a joint vision of the main budget indicators under the IMF-Ukraine partnership program, a framework for revenues, expenditures and deficits. Overall , the parameters of the 2021 budget coincide with the estimates of the Fund’s specialists, which was important to continue the successful cooperation between Ukraine and the IMF, “he said.
According to Marchenko, an opportunity was found to reduce the state budget deficit from 6% to 5.47% of GDP.
Budget revenue reflects the revenue that the economy can actually provide next year without raising taxes. Revenue from the state budget increased by 21 billion UAH, expenditure is forecast for one trillion to 328 billion UAH. The reduction in the overhead fund amounted to UAH 12.8 billion. This made it possible to reduce the budget deficit by 24 billion UAH, “he said.
What preceded it
- On September 14, the Cabinet of Ministers approved the draft state budget for next year, which foresees a deficit of 6% of GDP. State budget revenue for 2021 is projected in the amount of 1 trillion 71.1 billion hryvnia, and expenditures – 1 trillion out of 350 billion hryvnia. At the same time, the budget deficit is assumed at the level of 270 billion hryvnia.
- The state budget project also provides 104 billion hryvnia for the payment of benefits, benefits and subsidies, and overall social spending will amount to 323 billion hryvnia.
- The vice president of the Golos faction, Yaroslav Zheleznyak, said that the parliamentarians presented more than 2.4 thousand amendments to the bill on Ukraine’s state budget for 2021.
- On November 5, the parliament approved the bill at first reading. Presenting the document in the Verkhovna Rada room, Finance Minister Sergei Marchenko noted that the Finance Ministry, in preparing the draft for consideration at first reading, had anticipated an increase in spending by more than 20,000 million UAH.
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Author:
Dmitry Schwartz
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