Zelenskyy signs budget spending increase 2023

President Volodymyr Zelenskyy has signed Law No. 10038, which amends this year's budget, and, namely, increases spending on defence and security by more than UAH 300 billion (US$8.2 billion).

Source: bill's card on the Ukrainian parliament’s website

Details: According to the adopted draft law, expenditures are increased for:

• The Ministry of Defence by UAH 211 billion (roughly US$5.75 billion);
• Ministry of Internal Affairs by UAH 79 billion (roughly US$2.15 billion);
• The Ministry of Social Policy by UAH 16.5 billion (roughly US$450 million);
• The Ministry of Foreign Affairs by UAH 1.3 billion (roughly US$35.4 million);
• Ministry of Industry and Trade by UAH 4.3 billion (roughly US$117.3 million);
• The Security Service by UAH 4.2 billion (roughly US$114.5 million);
• The Defence Intelligence by UAH 2.5 billion (roughly US$68.2 million);
• Ministry of Education by UAH 572 million (roughly US$15.6 million);
• The State Special Communications Service by UAH 570 million (roughly US$15.5 million);
• The Foreign Intelligence Service by UAH 500 million (roughly US$13.64 million);
• The State Security Administration by UAH 230.5 million (roughly US$6.29 million);
• Ministry of Energy by UAH 350 million (roughly US$9.55 million);
• Bureau of Economic Security by UAH 219 million (roughly US$5.97 million).

Thus, the state budget expenditures for 2023 will exceed UAH 3.39 trillion (US$92.4 billion) for the first time, and the state budget deficit will exceed UAH 2 trillion (US$54.5 billion).

Background:

• At its meeting on 6 October, the Verkhovna Rada adopted in the second reading the draft law No. 10038 on increasing the state budget expenditures for 2023 by UAH 322.6 billion (US$8.8 billion).
• At its meeting on 20 September, the Parliament supported the draft law in the first reading.

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