Ukrainian parliament approves budget for 2025

Artur Kryzhnyi — Tuesday, 19 November 2024, 14:44

The Verkhovna Rada (the Ukrainian Parliament) has voted in favour of the 2025 draft state budget for Ukraine.

Source: Ukrainian PM Denys Shmyhal on Telegram

Details: A total of 257 members of parliament supported the draft.

The draft budget for 2025 includes record expenditures of UAH 3.94 trillion (about US$96.1 billion), with UAH 2.23 trillion (about US$54.4 billion) allocated for defence.

A significant portion of the budget, UAH 739 billion (about US$18.02 billion), will be directed towards the production and procurement of weapons.

Nearly UAH 421 billion (about US$10.26 billion) is allocated for social welfare programmes.

Local budgets will see a 15% increase in resources in 2025.

Revenue is expected to total UAH 2.3 trillion (about US$56.1 billion), which includes UAH 141 billion (about US$3.44 billion) from the tax bill No. 11416-d.

External financing is projected to reach US$38.4 billion next year.

Background: In October, the parliament supported the draft law on Ukraine's 2025 budget in the first reading.

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