The draft budget for 2024 prioritizes the defense and security of Ukraine

Опубліковано 18 September 2023 року, о 14:14

Prime Minister Denis Shmyhal announced that the government approved the draft budget. Own revenues of the general fund totaled 1 trillion 560 billion UAH, and expenditures of the general fund amounted to 3 trillion 108 billion UAH. 


Main priorities of the draft budget


Priority 1 – is ensuring the defense and security of Ukraine. Over half of the total budget resources, which amounts to  1 trillion 685 billion UAH, are allocated for this purpose. As of 2023, taxes collected from individuals and businesses will be allocated to support Ukraine’s Security and Defense Forces.


Priority 2 – focuses on the social sphere, with a budget of 469 billion UAH  allocated for expenditures.


Priority 3 – includes health care and education. The education sector will receive 179 billion  UAH  in funding, while 202 billion UAH  will be allocated to healthcare.


Priority 4 – is to assist veterans, with expenditures under this program being doubled from 6.8 billion UAH in 2023 to 14.3 billion UAH in the following year.


Priority 5 – is to restore Ukraine’s economy. No tax increases. The government intends to maintain its ongoing initiatives, including the soft loan program, the non-refundable grants program eRobota, and support for Ukrainian startups.


New programs are planned for industrial parks, investment projects, and support for Ukrainian producers.