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Ukraine parliament endorses state budget for 2014 without debates

January 16, 2014, 16:08 UTC+3 KIEV
The document noted that inflation rate is forecast at 4.3 percent, GDP growth rate at three percent in 2014
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© ITAR-TASS/Zurab Dzhevakhadze

KIEV, January 16.  /ITAR-TASS/. Ukrainian parliament endorsed the country’s state budget for 2014 on Thursday. The document was supported by 249 lawmakers with at least 226 required votes.

Deputies from ruling Party of Regions and the Communists voted for annual main financial document. The budget was approved without any debates right in second reading and as a whole, because as presiding First Vice-Speaker Igor Kaletnik said opposition “hampers debates and endorsement of the budget.”

The country’s Cabinet has earlier proposed to parliament to enact the state budget for 2014 with a deficit of 54.89 billion hryvnas (6.861 billion dollars). The budget forecasts nominal GDP at 1.65 trillion hryvnas (206.6 billion dollars), budget articles of consolidated state budget at 498.9 billion hryvnas (62.37 billion dollars), total state budget fund at 389.7 billion hryvnas (48.73 billion dollars).

The state budget law envisages that the highest budget deficit can be set at 59.547 billion hryvnas (7.443 billion dollars). State budget revenues are approved at 392.404 billion hryvnas (49.05 billion dollars), budget expenditures at 447.294 billion hryvnas (55.912 billion dollars).

The budget law stipulates that the minimal salary will be increased by 6.8 percent to 1,301 hryvnas (162.63 dollars) from October 1, 2014 and minimum subsistence level will grow by 2.56 percent to 1,207 hryvnas (150.88 dollars) from July 2015.

The document noted that inflation rate is forecast at 4.3 percent, GDP growth rate at three percent in 2014.

In 2014 defense spending will be cut by 4.9 percent to 14.6 billion hryvnas (1.82 billion dollars), while Interior Ministry’s spending will grow by 14.4 percent to 18.38 billion hryvnas (about 2.4 billion dollars). State debt payment is set at 140.3 billion hryvnas (17.5 billion dollars) this year.

 

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