Cabinet of Ministers approves draft state budget for 2021

The government's representative in the Verkhovna Rada, Vasyl Mokan (from the faction of the Servant of the People party) wrote about this on Facebook, Ukrinform reports.

"At an extraordinary meeting this morning, the Cabinet of Ministers has approved a draft law ‘On the State Budget of Ukraine for 2021’. The government has approved the draft budget in line with the schedule of budget process - the document must be tabled in the Verkhovna Rada by September 15,” Mokan wrote.

According to him, the government also approved a draft law "On Amendments to the Tax Code of Ukraine and some other laws of Ukraine to ensure the balance of budget revenues." In particular, the document envisages measures on ensuring the balance of budget revenues and reducing tax debts, as well as stimulating the economic activity of economic entities in view of long-term quarantine restrictions.

"The Cabinet of Ministers has also approved a draft law ‘On Amendments to the Budget Code of Ukraine’ to regulate the issues related to the development of a draft law on the State Budget of Ukraine for 2021," he added.

As reported by Ukrinform, Prime Minister Denys Shmyhal announced that the draft state budget for 2021 provides for a 4.7% growth in GDP, the projected budget deficit at up to 6%, the hryvnia exchange rate at up to UAH 29 per U.S. dollar.

According to the Budget Code of Ukraine, the Cabinet of Ministers approves and submits a draft law on the state budget for next year to Parliament by September 15.

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