Draft bill #10000 of September 15, 2023
Sponsor: Cabinet of Ministers of Ukraine
Status: adopted in the first reading
Who is affected: the President, Cabinet, Parliament, ministries, local self-government bodies, public servants, law enforcement agencies, prosecutor’s office, courts, citizens, and businesses
Summary:
- government budget 2024 will have expected revenues of 1.7 trillion UAH and expected expenditure of 3.4 trillion UAH
- the largest expenditure share will be spent on security and defense: 1.692.6 trillion UAH (almost 60% of the government budget)
- 468.8 billion UAH will be allocated for social security programs, 14.3 billion UAH — for support for veterans
- planned inflation will be 13.8%, GDP growth — 5%.
Why this is important:
The law on the government budget is the most important financial document of every country. It is a forecast of how much money the state will have and how it will spend it. The document also defines the government’s priorities for the year.
Additional information:
The draft budget for 2024 adopted in the first reading in the Parliament by October 19 must be finalized by the Cabinet of Ministers and approved by November 20.