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Ukraine’s draft budget for 2021 foresees a deficit of 270 billion UAH, a nominal level of GDP in the range of 4.506 billion UAH and an average salary of up to 13.6 thousand UAH.
Ukraine’s Finance Minister Serhiy Marchenko presented Ukraine’s draft state budget today at a briefing. In the presentation published on the website of the Ministry of Finance of Ukraine, income is provided at the level of UAH 1.071 trillion, expenses – UAH 1.35 trillion and a deficit of UAH 270 billion.
The rate, on the basis of which the ministry calculated the main indicators for the coming year, is set at the level of 29.1 UAH / $.
Nominal GDP, according to the forecast of the Ministry of Finance, will amount to 4.506 trillion UAH, and the real – 4.6% growth on an annualized basis, inflation – 7.3%, average salary – 13.632 UAH, unemployment rate – 9.2%.
The top priorities, in particular, were raising the minimum wage, helping retirees, and fighting COVID-19. Overall, 156.1 billion UAH was allocated to health care.
The increase in the minimum wage in the state budget for 2021 is planned for up to 6.5 thousand UAH. It will be raised in two stages. The first increase of UAH 1000 will take place on January 1, the second – from UAH 500 on July 1 of next year. Average salary growth of up to 13.6 thousand UAH is promised in 2021. Real wages adjusted for inflation, according to the ministry, will grow by 12.1%.
For social protection from the state budget of 2021, 323.7 billion were allocated. The Pension Fund provided UAH 203.8 billion for 11.3 million pensioners.
It is planned to spend UAH 12 billion on business support, of which UAH 2 billion will be spent on offsetting interest on loans for micro and small businesses, and UAH 10 billion will go towards portfolio guarantees.
Defense spending will rise to 5.93% of GDP, up from 5.45% this year. In total, UAH 267.2 billion will be allocated to the security and defense sector.
Amendments to the law “On the state budget From Ukraine for 2020 “as of August 12, state budget revenue identified at the level of 978 billion UAH. Expenditures were forecast at the level of 1,266 trillion UAH. In January – June 2020, the state budget general fund revenue plan. was not met at UAH 38.4 billion, or 7.8%reported in the Accounting Chamber of Ukraine.
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