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Minister of Finance Sergii Marchenko presented the Draft State Budget for the Year 2021

The draft Law of Ukraine “On the State Budget of Ukraine for 2021” developed by the Ministry of Finance is based on the Action Plan of the Cabinet of Ministers and strategic goals set by the President of Ukraine.

The priorities of the 2021 State Budget are:

  • raising the minimum wage to UAH 6,500;
  • assistance to pensioners over 75 years of age;
  • providing citizens with affordable and quality medical services, including directing budget funds to the so-called "COVID package", which will include vaccination against coronavirus disease;
  • continuation of educational reform within the framework of the New Ukrainian School project;
  • development of culture and support sports;
  • defense and security and increase of financial support of military service men;
  • continuation of the "Large Construction" project initiated by the President and development of railway transport;
  • large-scale digitalization of the economy;
  • development of financially viable regions.

State budget balance:

The revenues are set at UAH 1,071.1 billion. The expenditures and lending amount to UAH 1,350.1 billion. The deficit is set at UAH 270.4 billion, which is 6% of GDP and 1.5 percentage points less than in the current year (in 2020 the budget deficit is set at 7.5% of GDP). In the medium term, it is planned to gradually reduce the budget deficit (in 2022 - 4.5% of GDP; in 2023 - 3% of GDP).

"It is important for us that during consideration of law in the Parliament the balance of budget indicators and its realism is preserved so that it is possible to implement and finance all expenditures in full, such as social benefits, pandemic measures, financial support of education, medicine, culture, defense and security measures country and realize development opportunities. Yes, this is a budget of opportunities for the development of the country's economy," said Finance Minister Sergii Marchenko.