The Rada increased budget spending by 270 billion

After another increase in spending, security and defense spending will reach 1.2 trillion hryvnias this year.

The Verkhovna Rada at a meeting on Monday, August 15, approved by 287 votes an increase in budget spending in 2022 by 270 billion hryvnia, reports MP Yaroslav Zheleznyak.

According to him, spending will increase by increasing domestic borrowing. “Unfortunately, it will also print money,” he said.

Overall, total security and defense spending in 2022 is now at UAH 1.2 trillion.

Additional costs will be directed to:

• Ministry of Defense – 241 billion;

• Ministry of Internal Affairs – 23 billion

• the Main Directorate of Intelligence – 2.2 billion;

• SBU – 2.5 billion;

• UGO – 197 million;

• Foreign Intelligence Service – 139 million;

• State Service for Special Communications and Information Protection – 425 million;

• Reserve Fund – 715 million;

• Ministry of Economy for the preparation of the mobilization of economic sectors – 10 million rubles.

The MP added that the amendment about +12.7 billion Naftogaz for the purchase of gas for a loan to the Canadian government was not included in the final version of the bill.

According to the Ministry of Finance, since the beginning of the war, state budget funding has amounted to 805.3 billion hryvnias, or $26.95 billion. External receipts amounted to $13.87 billion or 51% of the total fund.

The Ministry of Finance also announced a sharp reduction in the state budget deficit – in July it reached UAH 4.8 billion against UAH 134.9 billion in June. Since the beginning of the year, the deficit has reached UAH 412 billion.

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