During the drafting of the state budget for 2023, a moderately conservative macroeconomic forecast scenario was applied by the Government team. It anticipates a GDP growth by 3.2%, inflation at 28% and the average annual dollar exchange rate at about UAH 42, Prime Minister Denys Shmyhal said during the Government’s session on November 4.
“I express gratitude to everyone who joined in the adoption of the state budget of Ukraine for 2023 in the Parliament – the Ministry of Finance, the Cabinet of Ministers and MPs. We did a great job rather fast and efficiently,” said the Head of the Government.
The Prime Minister noted that the budget had three most important priorities: the army and security, the direction of social security, education and medicine, as well as reconstruction.
Thus, according to the Head of the Government, 43% of all expenditures will be directed to the army and security: “This is more than UAH 1 trillion. The 2023 budget will be a budget for Ukraine’s victory in the fight against the aggressor.”
In turn, social security, education and healthcare will in total make up more than 30% of the expenditures section. The state will fulfill its social obligations to citizens.
Moreover, within the state budget, the Fund for Liquidation of the Consequences of russia’s Armed Aggression with a resource of UAH 35 billion is being created – primarily for the reconstruction of facilities being of critical importance to people.
“Reconstruction also envisages new incentives for the economy and the private sector. Through the Entrepreneurship Development Fund, we are to direct UAH 16 billion to support businesses. We continue the “5-7-9″ program, the eRobota, support for farmers, preferential mortgages, industrial parks as well as stimuli for large investment projects. We engage in rebuilding the country nowadays, so that to ensure the economy advances tomorrow,” the Prime Minister emphasized. (Government portal/Business World Magazine)
