Budget 2024 is a solidarity document for financing national needs in the context of martial law - Denys Uliutin

The State Budget for the next year is the second budget that the Government prepares and submits to the Parliament under the martial law. Budget 2024 is a document that provides for solidarity financing of national needs.

This was stated today by the First Deputy Minister of Finance Denys Uliutin during a panel discussion on the economic strategy of the Government and the Law of Ukraine "On the State Budget of Ukraine for 2024" at the Regional Economic Forum with the participation of Prime Minister of Ukraine Denys Shmyhal and First Deputy Prime Minister of Ukraine - Minister of Economy of Ukraine Yuliia Svyrydenko.

The Regional Economic Forum was attended by about 200 representatives of local authorities from across the country.

The Forum is supported by the Cabinet of Ministers of Ukraine, the Ministry of Economy of Ukraine and the USAID Competitive Economy Program in Ukraine.

 "We are resuming medium-term budget planning and have started a discussion on medium-term strategic planning. We will not be able to create a budget without a development strategy. In addition, the Budget 2024 takes into account the main priorities of the future Ukrainian Doctrine presented by President of Ukraine Volodymyr Zelenskyy. These are the philosophy of victory, the globalization of Ukrainian security, the policy of heroes, the policy of justice in Ukraine, and the transformation in ten years," Denys Uliutin said.

The First Deputy Minister of Finance noted that the macroeconomic forecast for 2024, which was included in the draft budget for 2024, envisages nominal GDP of UAH 7,825 trillion and real GDP growth of 5%.

"We fully spend our domestic budget revenues on security and defense, and we are grateful to our international partners for this conditions. External financing makes it possible to ensure non-defense expenditures. In addition, next year we propose to change the approach to the crediting of personal income tax revenues from the military, directing them to a special fund of the State Budget for defense industry expenditures. The expected resource from the personal income tax from military is about UAH 100 billion, which will be allocated to the security and defense sector and the development of the domestic defense industry," said Denys Uliutin.

The expenditures from the general fund of the State Budget for 2024 are planned in the amount of UAH 3,108 trillion, which is UAH 325 billion more than this year's target.

"The State Budget for the next year primarily provides for expenditures on the security and defense sector of UAH 1,693 trillion (21.6% of GDP). This year, we spend almost UAH 5 billion daily to finance this sector. At the same time, the budget also pays attention to supporting the economy in civilian areas through soft loan programs and grant support," said Denys Uliutin.

During the speech, the First Deputy Minister of Finance also presented the main indicators of the State Budget-2024:

• social protection of the population - UAH 468.8 billion (+UAH 24.7 billion or 5.6% to 2023)
• support for war veterans - UAH 14.3 billion (+7.5 billion to 2023);
• healthcare (with transfers) - UAH 201.9 billion (+UAH 24.4 billion to 2023 or 13.7%)
• education - UAH 178.8 billion (+UAH 22.9 billion to 2023);
• sports - UAH 7.5 billion (+3.6 billion to 2023);
• culture - UAH 10.7 billion (+UAH 2.3 billion to 2023);
• digital transformation - UAH 2.5 billion (+UAH 2.1 billion to 2023);
• science - UAH 13.5 billion (+1.7 billion to 2023);
• judiciary - UAH 24 billion (+3.9 billion to 2023);
• strengthening the institutional capacity of foreign diplomatic missions - UAH 8.3 billion (+UAH 2.2 billion to 2023);
• reserve fund - UAH 44.8 billion;
• local budget resources - UAH 292.3 billion;
• business support - UAH 30.8 billion.