1 620 amendments were submitted to the draft state budget for 2024 — for an additional 12.5 trillion hryvnias
- Author:
- Anhelina Sheremet
- Date:
The MPs submitted 1 620 amendments to draft law No. 10000 on the state budget for 2024 — for a total additional amount of 12.5 trillion hryvnias.
This was reported by the head of the parliamentary budget committee Roksolana Pidlasa on October 11.
She explained that it is impossible to take into account all these wishes of peopleʼs deputies, because realistically, internal resources (all possible revenues), bonds of domestic state loans and assistance from partners amount to a maximum of 3.96 trillion hryvnias per year, and they have already been allocated to expenditures in budget projects.
Budget for 2024
At a meeting on September 15, the government approved the draft state budget for 2024. It has not yet been considered in the Council. The main priority of the budget is security and defense. Defense budgets are 1 692.6 billion hryvnias, or 21.6% of GDP. Expenditures for the defense-industrial complex — 55.8 billion hryvnias, namely for the production of weapons in Ukraine — are also planned. Also, from January 1, 2024, the subsistence minimum for one person per month should increase to 2 920 hryvnias, for those able to work — 3 028 hryvnias, for people who have lost their ability to work — 2 361 hryvnias. From January 1, 2024, the minimum wage should be 7 100 hryvnias, from April 1 — 8 000.
The budget deficit was set at the level of 1.6 trillion, which is about 20.4% of the projected GDP. The government will finance the budget deficit through the placement of domestic state loan bonds (for 421.6 billion hryvnias) and foreign borrowing (1.77 trillion hryvnias). In total, in 2024, Ukraine will need almost $43 billion in external financing (grants and loans).
- On October 10, 2023, President Volodymyr Zelensky implemented the decision of the National Security and Defense Council of Ukraine to allocate at least 21.6% of the gross domestic product from the state budget to defense. For example, in 2023, expenditures on security and defense from the state budget amounted to 1.141 trillion hryvnias, or 18.2% of GDP.