Ukraine’s finance ministry to revise state budget for 2023

The Ukrainian Finance Ministry will soon prepare a draft of amendments to the state budget for 2023.

Minister of Finance Sergii Marchenko said this during a discussion entitled „Will the Ukrainian economy be able to grow in 2023?” according to an Ukrinform correspondent.

„Yes, of course, it’s a matter of time and volume. Now it’s a necessity. That’s why we will prepare a draft of amendments to the budget in the near future,” Marchenko said, when asked whether the government will revise the state budget for 2023.

On November 3, the Verkhovna Rada adopted the law „On the State Budget of Ukraine for 2023” at second reading and in its entirety. In 2023, state budget revenues are expected to amount to UAH 1.3 trillion and expenditures to UAH 2.6 trillion. The projected deficit of the 2023 state budget exceeds 20% of GDP. The document was developed with projected GDP growth of up to 3.2% and inflation at 28%.