Zelenskyy signs law on amendments to the state budget of 2023

18 March, 03:04 PM
Volodymyr Zelenskyy (Photo:Office of the President of Ukraine)

Volodymyr Zelenskyy (Photo:Office of the President of Ukraine)

Ukrainian President Volodymyr Zelenskyy signed a law that increases the state's spending this year, the government reported in a post on its website on March 17.

The government is increasing expenditures and the provision of credits to the special fund of the state budget by more than UAH 5.5 billion ($149 million) with the following funding:

  • grants and assistance from partners (UAH 445.6 million or $12.1 million);
  • additional external loans (UAH 3.84 billion or $104,000);
  • the return of funds provided by the Ministry of Economy to Social Insurance Fund for Unemployment for the payment of benefits (UAH 1.27 billion or $34.4 million).

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The 2023 state budget spending will be increased, among others, for the following:

  • the reconstruction and modernization of Ukraine's biggest children hospital Okhmatdyt, a university clinic in Kyiv, and a rehabilitation center in Lviv (UAH 1.35 billion or $36.6 million);
  • rebuilding of bridges (UAH 1.12 billion or $30.3 million);
  • grants for small and microbusinesses in the processing sector (UAH 1.28 billion or $34.7 million);
  • setting up checkpoints on the Ukrainian-Polish border (UAH 1.094 billion or $29.6 million);
  • the Partial Loan Guarantee Fund for Ukrainian agriculture funding (UAH 365.7 million or $10 million);

Ukraine's state budget 2023 was adopted in November 2022. About half of its expenditures or UAH 1.1 trillion or $29.8 billion were allocated to national defense.

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