The Parliament of Ukraine Supported the Draft State Budget for 2021 in the First Reading

On November 05, 2020 the Parliament of Ukraine approved the draft State Budget for 2021 in the first reading. 275 Members of Parliament voted for this decision.

There were 2,451 proposals of MPs, parliamentary factions, groups and committees of the Parliament of Ukraine to the draft State Budget for 2021, submitted by the Government to the Parliament on September 14, during the preparation of the document for the first reading.

Sergii Marchenko, Minister of Finance, thanked for the cooperation to the members of Parliament’s Budget Committee and to all parliamentarians who submitted their proposals.

The Minister of Finance stressed that the draft State Budget for 2021 is quite balanced and realistic to implement. 

"This is not just a financial estimate. It is an instrument for the development and growth of the country. The State Budget for 2021 envisages expenditures to finance the priority needs of the state. Taxpayers' money will be used efficiently and will benefit people and the economy. We will be able to cope with the coronavirus crisis, ensure financial stability, recover the economy and increase the wellbeing of citizens, " - stressed Sergii Marchenko during his speech in the Parliament.

The Minister also called on the members of parliament to continue constructive cooperation in finalizing and considering the draft State Budget 2021 in the second reading.

"This is a budget of opportunities for further development. It creates the basis for the necessary transformations that will make our country successful and the economy strong in the medium term," - Sergii Marchenko noted.

After considering the draft Law of Ukraine "On the State Budget of Ukraine for 2021" in the first reading, the Parliament adopted a resolution on approving the Budget Conclusions, which provide the amendments to the document while preparing it for the second reading.

In particular, the Budget Conclusions propose to increase the revenues and expenditures of the state budget by UAH 20.2 billion.

The adopted resolution provides for the Government to prepare the draft budget 2021 for the second reading and submit it to the Parliament within two weeks from the date of entry into force of this resolution.