​Acting Minister of Finance Oksana Markarova has visited the Parliament to present the draft Law of Ukraine “On the State Budget of Ukraine for 2019”

9/21/18

At the plenary meeting of the Parliament of Ukraine on September 21, acting Minister of Ukraine Oksana Markarova presented the draft Law of Ukraine “On the State Budget of Ukraine”.

Addressing the Parliament, Oksana Markarova stated that the state budget of Ukraine in the previous three years had reflected the real situation in the country, had been strictly in line with the real state revenues but had also given a clear idea on what priority sectors had the required resources.

“Starting from 2015, which was the most challenging year, each state budget came along with new reforms like decentralization, education reform, healthcare and pension reforms, road construction fund, deregulation, privatization and corporate management. It was due to the state budget, to concrete budget programs or amendments in the annexes to the state budget that these reforms as well as less comprehensive but equally important changes became possible,” she said.

The key objectives stipulated by the “Budget for the Country’s Development” are aimed to keep the macro-economic stability and to reduce the budget deficit, to accelerate economic growth, to preserve peace and the sovereignty of our country through security and defense funding, to ensure human capital development through healthcare and education reforms, to improve social support, to implement effective governance through the reform of public administration, decentralization and public finance management system. The proposed draft law also stands for more accountability, transparency and control in regard to the adoption and implementation of the state budget.

“This draft budget reflects our commitment to the security, development and prosperity of the Ukrainian people. The more our economy will be growing, the faster we will be able to make necessary changes, the more positive results we will deliver which will be not only visible in our macro-economic reports, but will also be tangible for the Ukrainian citizens,” Oksana Markarova said. She also assured that the Ministry of Finance and the entire Government will be working together closely in the coming months to have the main financial document of the country adopted.

As reported earlier, the total volume of the state budget for 2019 is equal to 1,108.1 billion hryvnas, including 994 billion hryvnas for the general fund (+84.6 billion hryvnas compared to 2018): revenues – 916.1 billion hryvnas; deficit – 69.6 billion hryvnas; re-payment of loans – 8.3 billion hryvnas.

The revenues of the draft state budget for 2019 are equal to 1,008.4 billion hryvnas, including 916.1 billion hryvnas for the general budget fund. The expenses and loans of the state budget are equal to 1,108.1 billion hryvnas, including 994.1 billion hryvnas for the general budget fund.

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