Verkhovna Rada increases state budget spending by UAH 270 billion

16 August, 04:20 PM
The Council increased state budget expenditures, its deficit, and the size of the state debt (Photo:Verkhovna Rada of Ukraine/ Facebook)

The Council increased state budget expenditures, its deficit, and the size of the state debt (Photo:Verkhovna Rada of Ukraine/ Facebook)

Ukraine’s parliament, the Verkhovna Rada, on Aug. 15 voted to increase the expenditures side of the 2022 state budget by UAH 270 billion – some UAH 269 billion of which will be allocated to national security and defense.

A total of 287 people's deputies from the 450-seat legistlature voted for bill No. 7644, which includes the budget revisions.

“The implementation of the bill will lead to an increase in the size of the state budget deficit and the maximum amount of debt by the corresponding amount,” says the explanatory note to the bill.

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According to the bill, spending on the Ministry of Defense increased by UAH 241.16 billion (including wages – by UAH 145.3 billion), the Ministry of Internal Affairs – by UAH 22.86 billion, the SBU (Ukrainian security service) – by UAH 2.46 billion, and the Main Intelligence Directorate of the Ministry of Defense – by UAH 2.22 billion.

In addition, UAH 715.7 million was added to the Reserve Fund of the Cabinet of Ministers.

The law raises the amount of domestic borrowing to UAH 794.1 billion, the budget deficit ceiling to UAH 1.09 trillion, and the public debt to UAH 3.6 trillion.

According to an MP from the Holos party, Yaroslav Zheleznyak, an amendment regarding the allocation of an additional UAH 12.7 billion for Naftogaz for the purchase of gas from the Canadian government was not included in the final version of the document.

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