Economy

Cabinet sets priorities for govt spending amid financial difficulties – Koretsky

Cabinet sets priorities for govt spending amid financial difficulties – Koretsky

The Cabinet of Ministers has approved a decision on prioritizing government spending amid a difficult situation with public finances and delays in receiving some of the planned international funding, Ukrainian Prime Minister Serhiy Koretsky said.

According to him, some of the international funding has not yet been received, in part because Ukraine has not yet fulfilled some of the commitments it made to its international partners.

"Under these circumstances, we continue to implement strict anti-crisis measures to ensure the most important needs are met – those of our defense and our people," Koretsky said on Telegram.

The prime minister said funding will be prioritized for defense, pensions, and social benefits, as well as salaries for teachers, doctors, and other public sector employees. At the same time, non-priority expenditures are being postponed. This includes new construction, renovations, and capital repairs that are not critically important, as well as public improvement projects – such as parks, public squares, fountains, and repaving.

"We will certainly do all of this, but for now, all resources must be directed toward critically important areas. We must finally stop spending money on non-priority items," Koretsky said.

He called on local governments to also set priorities in their budgets and limit spending that is not currently a top priority.

"For its part, the government is doing everything necessary to fulfill its commitments and secure the planned international funding. We are working together with parliament. And here, responsible work by lawmakers from all factions and groups is essential," the prime minister said.

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