The Verkhovna Rada supported the conclusions and proposals to the draft law on the state budget of Ukraine for 2022. The document was supported by 264 MPs. According to the rules of procedure of the Rada, after the adoption of the conclusions, the draft law on the state budget for the next year is considered adopted in the first reading.
«To approve the conclusions and proposals to the draft law of Ukraine on the state budget of Ukraine for 2022 as the Budget conclusions of the Verkhovna Rada of Ukraine,» the document #6000-P.
According to the decree, the Cabinet of Ministers must prepare a draft law on the state budget of Ukraine for 2022 for the second reading in accordance with the budget conclusions to submit it to the Rada within two weeks.
The document redistributes some state budget expenditures. In addition, the general fund revenues of the state budget in 2022 are increased by 6.5 billion UAH due to import VAT.
The Cabinet is recommended to consider the possibility of increasing state budget general fund revenues for 2022, taking into account the expected execution of state budget revenues in 2021, the forecast growth of the economy.
In addition, the Cabinet usually changes the figures for the second reading and reallocates expenditures on its own.
Budget revenues are planned in the amount of 1277.7 billion hryvnia, which is 161.7 billion hryvnia more than in 2021, expenses will grow by 103.1 billion hryvnia to 1465.7 billion hryvnia, the state budget deficit is planned at 188 billion hryvnia.
Real GDP growth in Ukraine is expected to be 3.8%, inflation (December to December) will be 6.2%. The budget for 2022 is based on the average exchange rate of the hryvnia to the dollar, which is 28.6-28.7 UAH per dollar.
According to the rules, the draft law on the state budget of Ukraine for the next year is considered following the procedure of three readings. After the submission of people's deputies, the committees form their proposals to the draft no later than October 1. The Verkhovna Rada shall consider the draft law on the state budget in the first reading no later than October 20. Consideration of the second reading shall be completed no later than November 20. The Verkhovna Rada adopts the final law on the state budget of Ukraine by 1 December.
