To finance the army, Ukraine’s budget is planned to be increased by half a trillion hryvnia

To finance the army, Ukraine’s budget is planned to be increased by half a trillion hryvnia

The budget of Ukraine for the current year is planned to be increased by half a trillion hryvnia to finance the army. Consideration of the relevant bill is scheduled for today at a meeting of the budget committee.

Some budget parameters, from where these half a trillion are supposed to be taken, were announced by the chairperson of the budget committee, Roksolana Pidlasa.

Thus, the Cabinet of Ministers expects to receive about 125 billion hryvnia from the tax increase, however, Pidlasa notes that the actual amount will only be 30 billion.

Deputies propose the following sources to increase revenue by 500 billion hryvnia:

- approximately UAH 115.4 billion – due to a reduction in expenses on servicing and repaying the state debt due to its restructuring (in the government version – UAH 125.6 billion);

- about UAH 216 billion – from the placement of domestic government loan bonds (the Cabinet of Ministers expects UAH 160 billion);

- an additional 100 billion UAH from overfulfillment of the plan for collecting taxes and fees (76 billion was planned);

- about 12.7 billion UAH – from excise taxes on fuel and tobacco (previously 13.7 billion);

- reduction or refusal of new expenses from the general and special funds in the amount of UAH 25.5 billion.