The Verkhovna Rada of Ukraine (the Ukrainian Parliament) generally accepted the conclusions and proposals of deputies to the state budget for 2024.
The MP Yaroslav Zheleznyak writes about this.
There were 285 votes pro. Now the government will work on the document, taking into account the conclusions and proposals. The final vote on the draft budget should take place by November 20.
Budget for 2024
At a meeting on September 15, the government approved the draft state budget for 2024. 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 (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). Revenues are expected at the level of 1,746.3 billion hryvnias, and expenditures at 3,308.9 billion hryvnias.
- 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.