Ukraine’s Parliament approves State Budget-2018: Key figures

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The Verkhovna Rada adopted in the second reading and as a whole the draft state budget of Ukraine for 2018, finalized taking into account budgetary conclusions and approved by the government for the second reading on December 1, an UNIAN correspondent reports.

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The draft law "On the State Budget of Ukraine for 2018" was supported by 273 deputies with a required minimum of 226 votes.

As UNIAN reported earlier, the Verkhovna Rada promulgated the draft state budget of Ukraine for 2018, revised by the Cabinet for its second reading. Compared with the original version, the state budget revenues are proposed to increase by UAH 37 billion, expenditures - by UAH 41 billion, and deficit - by UAH 3.9 billion, to UAH 81.8 billion.

In the process of finalizing the draft for its second reading, the government worsened the target of expected inflation next year to 9% from 7% expected earlier, while the GDP growth rate remained at the same level of 3%.

Read alsoPoroshenko says 2018 budget allocates $3.2 bln for army, 25% up from 2017In the updated draft, it is proposed to increase subventions to local budgets to pay benefits and subsidies to the population for their payments on utility bills by UAH 15.9 billion, for healthcare and social assistance to the population - by UAH 5.9 and UAH 2 billion, respectively. There is also a new subvention for the development of regions in the amount of UAH 5 billion.

Additional expenses are proposed to be compensated for by increasing revenues from profits and dividends of state companies by UAH 13.9 billion, corporate profit tax by UAH 9.5 billion, fees for the use of radio frequency resources by UAH 6.3 billion, VAT revenues from goods imported to Ukraine by UAH 2.2 billion, import duty – by UAH 1.8 billion, profit of the National Bank before transfer to the budget by UAH 1.7 billion.

In addition, in contrast to the original version, the finalized draft provides for the receipt of UAH 4.7 billion from the confiscation of property by court decisions for corruption offenses.