Sergii Marchenko: Support for the Budget Declaration is a Historic Event

The Parliament of Ukraine considered the Resolution of the Budget Declaration for 2022-2024 and provided recommendations.

269 Members of Parliament voted for the document. The joint efforts of the Ministry of Finance of Ukraine, the main administrators of funds, the Cabinet of Ministers of Ukraine, and the Parliament of Ukraine made it possible to take a step towards the transition to medium-term budget planning.

"This is a historic event. It is the first time we are considering a three-year Budget Declaration. The Budget Declaration is not just a technical change in the budget process by adding 2 years to the draft state budget. It is the vision and effectiveness of the state and gives each of us a sense of security. The growth of state budget revenues in 2024 is expected at UAH 1,452 billion or 32% more, than in the current year", - Sergii Marchenko said during the speech in the Parliament.

Ukraine has joined the progressive countries that are implementing the modern practice of public finance management based on transparency, predictability, and efficiency.

The Minister of Finance stressed that the basis for the Budget Declaration is the macroeconomic projected indicators approved by the Cabinet of Ministers for 2022-2024. In particular, GDP growth until 2024 is assumed at 5%.

"In the framework of the Budget Declaration, the Government has provided proposals for amendments to the tax legislation, which will allow to additionally attract more than UAH 50 billion annually to the consolidated budget and put an end to many years of schemes to minimize tax liabilities. I want to emphasize that the Budget Declaration will be the basis for the draft state budget and projections of local budgets, "- said Sergii Marchenko.

While elaborating the Budget Declaration, goals and priorities defined by the Program of the President of Ukraine, Action Plan of the Cabinet of Ministers of Ukraine, forecast and program documents of economic and social development, in particular, the National Economic Strategy 2030 was taken into consideration.

Thus, in the medium term the efforts of the Government will be aimed at supporting macroeconomic stability, stimulating the economy to overcome the negative effects caused by restrictive measures for preventing the emergence and spread of acute respiratory disease COVID-19, implementation of tasks aimed at, in particular:

• promoting development of small and medium-sized businesses;
• strengthening of defense capability and security of the state;
• development of the agro-industrial complex;
• creating a clean and safe environment, the preservation and restoration of natural ecosystems;
• development of administrative services and their digitalization, informatization of society, promoting of IT business, improving the digital literacy of Ukrainians;
• strengthening energy independence;
• creating an effective and comprehensive system of social support and pension provision of the population;
• development of a social protection system for war veterans;
• providing quality, modern, and accessible secondary education, development of a safe and inclusive education system, creation of a modern system of professional education, and ensuring the quality of higher education;
• providing access to basic medical services;
• increasing the level of transparency in the management of public finances.