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 Rada adopts draft law on state budget-2017 at first reading

Draft law No. 5000 on the state budget of Ukraine for 2017 has passed the first reading in Ukraine's parliament.

Censor.NET's parliamentary correspondent reports.

The decision was supported by 245 MPs.

Speaker Parubii also put the bill to the second vote, but it scored only 164 votes.

The bill stipulates that the state budget revenues will amount to 876.9 billion hryvnia ($33.6 billion) that is 17 percent more than in 2016 - 749 billion hryvnia. Most revenues are expected from VAT - 281.7 billion hryvnia, personal income tax - 150.6 billion hryvnia, and excise tax - 108.1 billion hryvnia.

The budget deficit is set at 3 percent of GDP, public debt - less than 66 percent of GDP. The state guarantees will be granted in the amount of not more than 5 percent of the general fund budget revenues, while the hryvnia average annual exchange rate is set at 27.2 hryvnia per dollar.

129 billion hryvnia ($4.94 billion) are supposed to be allocated for the country's defense capabilities, which is 14.5 billion hryvnia more than envisaged in the state budget-2016.

The document also provides for an increase in the minimum wage by 10.1 percent to 1,762 hryvnia ($68) and the scholarship fund to 5.8 billion hryvnia.

The state budget-2017 also relies on $1.5 billion in funds supposed to be confiscated from Ukraine's ex-officials.

Read more: State budget-2017 bill made public on Rada website
   
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