Revised national budget draft for 2021 submitted to Rada.

Photo from UNIAN

Photo from UNIAN

The Verkhovna Rada, Ukraine's parliament, says the draft law on the national budget for 2021, finalized for the second reading, has been submitted for consideration.

That's according to a statement published on the Radawebsite on November 27.

However, the text of the document is not available on the parliament's website.

"The last stage of passing the document. A revised draft was received and submitted for consideration to the leadership on November 27," the statement said.

The Cabinet of Ministers approved the revised national budget draft on November 26.

The document envisages UAH 1.092 trillion (US$38.4 billion) in revenue and UAH 1.328 trillion (US$46.7 billion) in spending.

Read also Ukraine's government endorses 2021 budget agreed with IMF: Key indicators The government reduced the deficit from 6.0% to 5.5% of GDP.

National Budget 2021: Background

The draft national budget for 2021, approved by the Cabinet of Ministers on September 14, 2020, provides for revenues at UAH 1.07 trillion (US$38 billion) and spending at UAH 1.35 trillion (US$47.5 billion). The deficit is laid down at 6% of GDP next year. Budget deficit cap is set at UAH 270 billion (US$9.5 billion).

The national budget draft also envisages UAH 104 billion (US$3.7 billion) in benefits and subsidies. In total, social expenditures stand at UAH 323 billion (US$11.4 billion).

Deputy Chairman of the Holos (Voice) faction, First Deputy Chairman of the Verkhovna Rada's Committee on Finance, Tax and Customs Policy Yaroslav Zheleznyak earlier said that lawmakers submitted more than 2,400 amendments to the draft law on the 2021 national budget.

On November 5, a bill on the draft budget passed its first reading. While presenting the document in parliament, Finance Minister Serhiy Marchenko said his ministry had increased the amount of spending in the bill by over UAH 20 billion (US$703 million).

Author: UNIAN

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