Rada expands state budget deficit by UAH 200 bln to increase spending of reserve fund – MP
The Verkhovna Rada has expanded the deficit of the state budget of Ukraine by UAH 200 billion by increasing the proposed borrowings to increase the expenses of the reserve fund by this amount from UAH 1.5 billion to UAH 201.5 billion, Head of the budget committee Yuriy Aristov has said.
Bill No. 7299 was adopted by parliament at a session on Thursday, he added.
In addition, according to Aristov, from May 1, instead of January 1, 2023, the bill launches a new mechanism for paying and enrolling excise tax on the sale of tobacco products – excise tax funds will be credited to local government budgets.
"According to changes in tax legislation, the obligation to pay 5% excise duty on retail sales of cigarettes and liquids for electronic cigarettes is transferred from retailers to manufacturers and importers of such products," the head of the committee said.
According to the bill, state budget expenditures are proposed to be increased to UAH 1.793 trillion, including for the general fund – to UAH 1.572 trillion, and the state budget limit deficit – to UAH 456.363 billion, including the general fund deficit to UAH 360.259 billion.