The Verkhovna Rada of Ukraine adopted the draft state budget for 2024 from the first reader, praising the important work of the country’s financial planner. This became known on the 19th of June from the message of People's Deputy Yaroslav Zheleznyak, a representative of the political party "
Based on the information provided, the draft budget transfers revenues in the amount of 1.75 trillion hryvnia and taxes in the amount of 3.31 trillion hryvnia. This document received the support of 285 deputies, reflecting their position in the financial future of Ukraine.
Aligned with the budget for 2023, where revenues were 1.42 trillion hryvnias, and taxes - 3.39 trillion hryvnias after two increases, the new budget indicates a further increase in financing obligations.
A significant portion of the state’s government funds for 2024 will be directly spent on security and defense needs, which will amount to 1.62 trillion hryvnia, or 21.6% of GDP. It is noted that in the event of a conflict, expenses may increase, as the head of the tax committee Danilo Getmantsev said.
The limit on the deficit of the state budget is estimated at 1.53 trillion hryvnia, insurance economic realities and spending on supporting key problems.
From 1st September 2024 the minimum subsistence level will move from 2589 hryvnia to 2920 hryvnia, and the minimum salary will increase to 7100 hryvnia from 6700 hryvnia. From the 1st quarter of 2024 we will move up again to 8000 hryvnia, which is acceptable to the social growth of Ukrainians.
Varto means that the draft budget does not transfer increased taxes, blaming the banking sector.
Following the legislative process, the Verkhovna Rada may review bills and proposals for the budget until the 20th and send them to the authorities. Now it is time for two more days to finalize the budget before other readings on the approval of changes made by deputies. Another reading of the draft law on the state budget of Ukraine is planned to be completed no later than November 20, suggesting the possibility of further negotiation and optimization of the financial future of the country.
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