Zelensky signed the law on the State Budget for 2024

Author:
Oleksandra Opanasenko
Date:

President Volodymyr Zelensky signed the law "On the State Budget for 2024". Most of the expenditures will go to the defense sector.

This is reported on the website of the draft law.

Revenues of the state budget are expected at the level of 1.768 trillion hryvnias, expenditures — 3.35 trillion. The deficit of the state budget will amount to 1.57 trillion hryvnias. External borrowings were reduced by 103.5 billion hryvnias (from $42.9 billion to $41 billion to agree with the IMF), offset by an increase in domestic borrowings by 81.4 billion hryvnias.

The main priority of the state budget is the defense and security of Ukraine, almost half of all expenditures or more than 21% of GDP will go to these goals. Other priorities include the social sector, education, medicine, and support for veterans.

It is expected that GDP will grow by 4.6%, inflation will be about 9.7%, and the exchange rate will be 40.7 hryvnias per dollar.