Ukraine’s new state budget comes into force
The Bill on the State Budget of Ukraine for 2019 came into force on January 1 and was officially published in the Holos Ukrayiny newspaper in mid-December.
Consolidated budget revenues in 2019 are estimated at 1.3 trillion UAH (about $47 billion), including the general fund of the consolidated budget that is 1.18 trillion UAH. Next year’s consolidated budget spending and provision of loans amounts to 1.41 trillion UAH (about $50 billion), including the general fund of the consolidated budget of 1.26 trillion UAH (about $45 billion).
The total government budget deficit will decrease to 2.28% of GDP, compared to last year’s deficit of 2.4% of the GDP. 167.5 billion UAH ($6 billion) is allocated for the pension payments in 2019. From January 1, 2019, the minimum wage is raised to UAH 4,173 ($150 USD). The size of the subsistence minimum in 2019 compared to 2018 is increased by 9.4%.
The special fund provides allocations for the State Road Fund in the amount of UAH 50.4 billion ($1,8 billion)out of the total financial resources for the development of roads costing 55.6 billion USD. The allocation is up by 17.5 billion USD or 50% larger than similar expenses in 2018.
In accordance with the document, the total expenditure on health care in the consolidated budget is 131.7 billion UAH ($4 billion), which is 15.3 billion UAH ($541 million) (13.1%) more than last year. This includes the costs of health care financing reform.