16:23 31.05.2022

Rada backs increase in military spending by UAH 247 bln thanks to external loans in 2022

2 min read
Rada backs increase in military spending by UAH 247 bln thanks to external loans in 2022

The Verkhovna Rada has supported bill No. 7413, which provides for an increase in expenditures of the general fund of the state budget by UAH 287 billion through external loans, to UAH 2.08 trillion, including military spending by UAH 247.77 billion.

MP Yaroslav Zhelezniak, Deputy Head of the Parliamentary Committee on Finance, Tax and Customs Policy said on his Telegram channel, 299 MPs backed the bill at the second reading, with the required 226 votes.

Spending on the Ministry of Defense is proposed to be increased by UAH 166 billion, to UAH 383 billion, including funding for the Armed Forces of Ukraine by UAH 102.5 billion (to UAH 202 billion). The bill provides for an increase by another UAH 76 billion in spending on the Ministry of Internal Affairs, to UAH 182.3 billion.

Spending on the National Guard will be raised by UAH 25 billion, to UAH 39.16 billion, as well as funding for the administration of the State Border Guard Service by UAH 7.9 billion, to UAH 22.77 billion, and the State Emergency Service – by UAH 13 billion, to UAH 30 billion, National Police – by UAH 28.5 billion, to UAH 65.26 billion.

In addition, the bill provides for an increase in spending on the SBU by UAH 2.78 billion, to UAH 18.9 billion, namely on the Central Office of the SBU.

According to the document, it is proposed to replenish the reserve fund by UAH 1.5 billion, provide assistance under the eSupport program by UAH 5.8 billion, and finance pensions and the Pension Fund deficit by more than UAH 20 billion.

In addition, the bill envisages the provision UAH 12.5 billion in the state budget for 2022for the targeted assistance to internally displaced persons.

Thus, the bill increases the expenditure of the state budget for 2022 to UAH 2.08 trillion (from UAH 1.79 trillion), including general fund expenditures to UAH 1.859 trillion (from UAH 1.572 trillion), and the state budget upper deficit by this year to increase to UAH 743.5 billion (from UAH 456.36 billion), the deficit of the general fund – to UAH 647.35 billion (from UAH 360.26 billion).

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