Ukraine's 2024 Budget adopted in first reading

Thursday, 19 October 2023, 13:21

The Verkhovna Rada (Ukrainian Parliament) has adopted the draft budget for 2024 in the first reading.

A total of 285 MPs voted in favour of the adoption of the country's main budget in the first reading.

Yaroslav Zhelezniak, Deputy Chairman of the Verkhovna Rada's Financial Committee, has said that the Servant of the People faction gave the most votes for the draft budget – 200.

The other factions also voted for the draft budget:

Platform for Life and Peace – 17;

For the Future – 14;

Voice – 16;

Trust – 16;

Restoration of Ukraine – 11;

Independent MPs – 11.

The European Solidarity and Motherland factions did not cast a single vote for the draft budget.

Zhelezniak said that the parliament adopted the conclusions and amendments of MPs to the budget for 2024.

"Next, the Cabinet of Ministers is working on the document, taking into account the conclusions and proposals, and the final vote on the draft budget should be held by 20 November," he added.

The main indicators of the draft budget in the first reading are as follows:

revenues – in the amount of 1.746 billion hryvnias (about US$47.4 million);
expenditures – in the amount of 3.308 billion hryvnias (about US$89.8 million);
the maximum deficit is 1.593 billion hryvnias (about US$43.2 million).

Background:

Prior to the first reading, MPs had at least 1,620 amendments to the draft state budget for 2024, which provided for an additional 12.5 trillion hryvnias (about US$339 billion) in state budget expenditures.

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