The Verkhovna Rada (VR) heard information from Minister of Finance Sergei Marchenko (pictured) on the main directions of budgetary policy for the next three years. The government has submitted a three-year budget declaration to parliament for the first time. The document was approved.
Kyiv. Ukraine. Ukraine Gate – July 15, 2021 – Video
This K V became known during the regular plenary meeting of the BP on July 15, 2021.
The draft resolution No. 5765 “On the Budget Declaration for 2022-2024” was supported by 269 people’s deputies.
The Budget Declaration for 2022-2024 is the government’s vision of fiscal policy for the medium term. The document defines the main budget indicators, the goals of state policy in the relevant area with indicators of their achievement and is the basis for drawing up the draft State Budget for 2022.
The budget declaration provides for a gradual reduction of the state budget deficit. According to the document, in 2021 the state budget deficit is expected to reach UAH 246.6 billion, in 2022 – UAH 188 billion, in 2023 – UAH 179.8 billion, in 2024 – UAH 179.59 billion.
“It is proposed to finance the state budget deficit mainly by attracting domestic financial resources,” said Finance Minister Sergei Marchenko, presenting the Budget Declaration.
According to the declaration, the size of the minimum wage in the next three years will increase from 6.5 thousand hryvnias at the beginning of 2022 to 7.665 thousand hryvnias at the beginning of 2024.
It is envisaged to increase the minimum wage in October 2022 to 6.7 thousand hryvnias, and from 2023 – to 7.176 thousand hryvnia.
The budget declaration also contains an assessment of fiscal risks, including the further spread of COVID-19, a significant decrease in gas transit from the Russian Federation, an increase in hybrid threats from the Russian Federation, an increase in unemployment, a low grain harvest, a high share of public debt spending in 2022-2024, and etc.
At the same time, the Budget Declaration, adopted by the Cabinet of Ministers on May 31 of this year, expects to introduce tax changes to the “resource bill” ( No. 5600 ).
The Cabinet of Ministers expects that thanks to him, from 2022, the state budget is expected to receive an additional 34.1 billion hryvnia annually.
At the same time, the mentioned bill was criticized. Critics believe that the proposed amendments to the Tax Code will further drive businesses into the shadows (and in the construction industry, they will lead to a significant rise in the cost of housing).
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Source: Ukrgate
