Budget committee approves draft state budget for 2023, ready for voting in parliament

3 November 2022, 02:58 PM
If approved soon, budget will be earliest ever adopted by Ukraine (Photo:NV)

If approved soon, budget will be earliest ever adopted by Ukraine (Photo:NV)

The Ukrainian government's Budget Committee has approved the draft budget for 2023 ahead of its second reading in parliament, lawmaker and the head of the committee Yuriy Aristov said on Facebook on Nov. 2.

Aristov said the Budget Committee is made up of Servant of the People political party member and lawmaker Davyd Arakhamia, Minister of Finance of Ukraine Serhiy Marchenko, and his deputies.

Now only a positive vote in the session hall of parliament is required the final adoption of the budget, Aristov wrote.

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"I hope for the cooperation of my colleagues, as we head for a record for the earliest ever adoption of a Ukrainian budget,” Aristov wrote. “Still, our main goal is to guarantee funding of Ukrainian defense in its fight for freedom and independence."

MP Yaroslav Zheleznyak, the first deputy chairman of parliament's finance, tax and customs policy committee, reported that several budget expenditures were added before the second reading.

They included funds for the Secretariat of the Parliament Commissioner for Human Rights (UAH 116 million or $3,1 million), political party funding (UAH 519.4 million or $14.1 million), Rada TV channel and The Voice of Ukraine newspaper funding (UAH 120 million or $3.25 million), funding for the Specialized Anti-Corruption Prosecutor's Office (UAH 63 million or $1.7 million) and about UAH 40 million ($1.1 million) for privatization measures.

As reported earlier, the Cabinet of Ministers has adjusted the GDP growth forecast for 2023 to a more conservative figure of 3.2%, instead of 4.6% as before. The inflation forecast in the Cabinet of Ministers was reduced from 30% to 28%.

State budget revenues for 2023 are planned at UAH 1.3 trillion ($35.2 billion). The Cabinet of Ministers proposed to increase the revenue side by more than UAH 50 billion ($1.35 billion) due to adjusted macro indicators and tax changes.

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