The Parliament Approved Amendments to 2020 State Budget

Today, the Parliament of Ukraine approved in the first reading and in general amendments to the law "On the State Budget of Ukraine for 2020" (registration No 3279-D). 249 MPs voted in favor.

The draft law was developed by the Cabinet of Ministers of Ukraine and finalized together with the members of Parliament of the parliamentary Committee on Budget to combat the COVID-19 outbreak and its consequences.

The changes to the budget envisage the creation of a UAH 64.7 billion coronavirus fund within the state budget, which will be directed into immediate measures and priority areas to counter the spread of the COVID-19.

The revenues of the general fund of the state budget are envisaged at UAH 855.4 bn, while expenditures at UAH 1 135 bn. The financing needs are estimated at UAH 274.5 bn, of which UAH 273.9 bn foreseen from borrowings and UAH 0.5 bn from privatization sales.

At the same time, the government will not reduce expenditures aimed at ensuring the defense and security of the state, supporting the agro industry, road infrastructure and social expenditures.