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 Poroshenko signs law on 2017 state budget

President Petro Poroshenko has signed the Law of Ukraine on 2017 State Budget.

Censor.NET reports citing the presidential press service.

Poroshenko emphasized that ruining the traditions of the previous years, the government managed to timely submit the state budget bill to the Verkhovna Rada.

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He reminded the budget had been thoroughly discussed at an NSDC session in terms of expenditures on the security and defense sector. According to Poroshenko, these expenditures amount to 5.2 percent of GDP and "are primarily intended for the Armed Forces of Ukraine, satisfying not only financial, medical, clothing and nutritional needs of the military but also the state defense order."

"For the first time, the new weapons designed over the past two and a half years will be put into production and supplied to our military to significantly increase their combat capacity," the president said.

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Poroshenko noted unprecedented steps taken by the government, the president, the prime minister and the parliament to increase the minimum wage to 3,200 hryvnia ($118 monthly).

He also stressed the passed budget is socially- and reform-oriented, seeks to protect Ukrainian producers and workers, as well as to improve the domestic investment climate.

According to the president, the 2017 state budget stipulates an unprecedented financing of road construction.

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Three years into the decentralization reform, local budgets have started to show significant growth, Poroshenko said, noting a five to six times increase.

He expressed hope that after a thorough examination of our legislative amendments by international experts and investors, Ukraine's Doing Business ranking will continue to improve.
 
 
 
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