The Parliament ensured financial increase in the state budget for National Defense top-priority needs

7/17/15

Today, the Parliament adopted draft law #2381a which ensured financial increase of top-priority needs for National Defense within the limits of the state budget in order to enhance measures of mobilization. The Ministry of Finance provided it with financing without increase of budget expenses, and, at the same time, with timely social payments, in particular pensions and salaries.

The purpose of the Ministry of Finance is to provide with sufficient financing National Defense.

In May 2015, the Ministry of Defense sent a request to the Ministry of Finance for additional financing of Ukrainian military because of the war in Eastern parts of Ukraine.

The Ministry of Finance offered to increase financing, by redistributing the state budget in order to satisfy needs of National Defense as well as not to imbalance the state budget.

The draft law #2381a “On changes to the law about state budget 2015”, adopted today by the Parliament, foresees payments increase for National Defense in the amount of 5 299 million UAH, including 5 140 million UAH which must cover mobilization needs of the Ministry of Defense. Additionally, 158,7 million UAH go to other Defense Agencies in order to provide with food our soldiers.

This money will be given within the limits of the state budget by means of assignation redistributing in the amount of 5 099 million UAH and 200 million UAH earned in information service, these money will be transferred from the special to the common fund. At the same time, this redistributing process of the expenses doesn’t touch social expenses as well as expenses for Defense Agencies.

Therefore, the Ministry of Finance ensured financing of the top-priority needs for our National Defense, and saved social expenses without budget shortfall. The Ministry of Finance focuses on the issues that the higher budget shortfall is the bigger inflation pressure on economy. It means negative impact on welfare of all citizens, and it leads to devaluation of money and therefore, it could decrease pensions and salaries.

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