In 2020, expenditures of the state budget amounted to UAH 1.29 billion, up by 19.8% YoY, according to the Finance Ministry of Ukraine.
“The Cabinet of Ministers has approved the report on the implementation of the State Budget of Ukraine for 2020. Thus, due to the effective mobilization of resources, the government was able to finance expenditures in the amount of UAH 1.288 billion, up by 19.8%,” reads the report.
The largest shares of expenditures of the general fund of the state budget last year were directed to the salaries of public sector employees and social benefits (30.5%), defense and security sector (20.8%), as well as on public debt service (10.9%).
In 2020, expenditures on the defense and national security amounted to UAH 249.1 billion or 6.1% of GDP. Capital expenditures amounted to UAH 94.9 billion, up by 24.6% or by UAH 18.7 billion. In 2020, the government distributed UAH 78.4 billion from the COVID-19 Response Fund, of which 84.8% was actually used by the main budget managers. (Ukrinform/Business World Magazine)
