President signs law on 2023 state budget

President of Ukraine Volodymyr Zelensky on Wednesday signed the law on the state budget of Ukraine for 2023, the relevant information is available on the website of the Verkhovna Rada.

According to it, the revenues of the 2023 state budget were approved in the amount of UAH 1.329 trillion, including for the general fund – UAH 1.173 trillion, while expenditures – UAH 2.581 trillion and UAH 2.297 trillion, respectively.

The maximum size of the state budget deficit is set at UAH 1.297 trillion, or 20.6% of the projected GDP, including for the general fund – UAH 1.125 trillion.

It is expected to be financed almost entirely by external borrowing of $38 billion.

The maximum amount of public debt at the end of 2023 is set at UAH 6.423 trillion, which is 102.3% of the projected GDP.

When preparing the draft state budget for 2023 for the second reading, the projected GDP growth was reduced to 3.2% from 4.6% and inflation to 28% from 30%. As a result, the revised forecast of nominal GDP is UAH 6.279 trillion.

The exchange rate of the hryvnia against the US dollar at the end of 2023 is expected to be UAH 45.8/$1, and the average annual rate is UAH 42.2/$1.

The living wage is UAH 2,589, and the minimum wage is UAH 6,700.

Tags: #president #budget