The Cabinet of Ministers approved the three-year Budget Declaration for the first time


Photo: Ukrinform

On May 31, at a special government meeting, the Budget Declaration was approved for the first time.

This is reported by UATV with reference to the Government portal.

The budget declaration for 2022-2024 is the government’s vision of fiscal policy in the medium term. The document defines the main budget indicators, the tasks of state policy in the relevant sphere with indicators of their achievement is the basis for drafting the state budget for 2022.

The document contains general indicators of revenues and financing of the state budget, general limits of state budget expenditures, the amount of the minimum wage, the subsistence level and other goals of state policy.

It is noted that in the medium term, the government’s efforts will be aimed at maintaining macroeconomic stability, stimulating the economy to overcome the negative effects caused by restrictive measures in connection with COVID-19.

The Budget Declaration provides for fiscal space, which will be allocated within the state budget for priority areas.

Among the priorities of the budgetary policy identified by the Budget Declaration are strengthening the defense capability and security of the state, the development of the agro-industrial complex, the formation of environment, the development of administrative services and their digitalization, increased energy independence, the creation of an effective and perfect system for the implementation of social support and pension provision of the population, and other.

The budget declaration together with the financial and economic justification will be submitted for consideration to the Verkhovna Rada.

Besides, Volodymyr Zelenskyy said that taxes will not increase for small and medium businesses.

date 01.06.2021
categories Economics

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