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Photo: Cabinet of Ministers in the Rada (Vitaliy Nosach / RBC-Ukraine)
The Cabinet of Ministers presented the state budget for 2021 to the Verkhovna Rada. The Ministry of Finance insists that the state budget project for 2021 is balanced and realistic.
Reported by RBC-Ukraine.
Key Budget Indicators-2021
Revenue growth of 9.4% is expected. Revenues will amount to UAH 1 trillion 071.1 billion, expenses UAH 1 trillion 350 billion. The deficit is 270 billion UAH.
The level of deficit compared to the current year was reduced by between 1.5% and 6%.
According to the project, the minimum wage will increase in 2021 by 30%. An increase in two stages is planned from January 1 to 6,000 UAH and from July 1 to 6,500 UAH.
The law contains weighted average wage growth an employee of fare category I of the Unified Fee Schedule also by 30%: from January 1, 2021 to 2670 UAH, and from July 1, 2021 to 2893 UAH.
Always and increase in average wages up to 13,632 hryvnia in 2021. Real wages (adjusted for inflation) are expected to grow by 12.1% in 2021.
According to the government forecast, inflation will accelerate in 2021 up to 7.3%.
Unemployment rate it will rise to 9.2% according to the methodology of the International Labor Organization.
Ukraine’s draft state budget for 2021 is designed to exchange rate 29.1 hryvnia per dollar.
Expenses of social protection of the population It will amount to UAH 324 billion, which is UAH 7.5 billion more than in 2020. Of this amount, the Pension Fund expenditures will amount to UAH 204 billion.
The project includes costs for additional payments to pensioners over 75 years… It is planned to spend 2.4 billion UAH for these purposes.
The minimum pension will increase in 2021 by 9.3% – from 1769 to 1934 UAH. According to the document, the first increase is scheduled for July 1, when the minimum pension will grow 4.8% to 1,854 UAH, the second, on December 1, when it will increase 4.3% to 1,934 UAH.
Defense Department spending in 2021 they will amount to 116,094,525.6 thousand UAH. This is 0.1% less than in the current year (116,217,265.9 thousand hryvnia).
For service activities of the president and the president’s office In 2021, the expenses are planned at the level of 1,266,795.2 thousand UAH. This is 39.4% more than this year (909,058.7 thousand hryvnia).
General fund expenditures of the state budget for Verkhovna Rada Office in 2021 they will amount to 2,282,685.8 thousand UAH. This is 12.0% more than this year (2,038,424.8 thousand hryvnia). Expenses of Secretary of the Cabinet of Ministers will amount to 1,092,341.3 thousand hryvnia. This is 13.9% more than this year (959,075.0 thousand UAH).
The cabinet has put about subsidies the amount of UAH 36.6 billion. This is 6.9% (2.7 billion UAH) less than in 2020 (39.3 billion UAH).
As a reminder, by the end of 2020, household final consumption spending is expected to decrease by 1.2%, which will be the result of a generalized drop in economic activity in the country.
As RBC-Ukraine wrote, Ukrainian Prime Minister Denis Shmygal said that Ukraine’s Cabinet of Ministers set a deficit of 6% of GDP in the draft budget for 2021 to respond to the crisis and not increase taxes.
