Ministry of Finance: Parliament approves draft state budget for 2025 in first reading

On 31 October, the Parliament approved the draft state budget for 2025 in the first reading. The decision was voted for by 247 MPs.

The revenues of the general fund of the state budget (excluding grants and inter-budget transfers) are set at UAH 2 trillion 7 billion, which is UAH 411 billion more than this year.

The expenditures of the general fund of the state budget are set at UAH 3 trillion 644 billion, which is UAH 535 billion more than this year.

The total resource for national security and defence in 2025 is UAH 2 trillion 223 billion (about 26% of GDP), which is UAH 46 billion more than the 2024 plan, taking into account the amendments to the state budget adopted by the Verkhovna Rada of Ukraine.

During the preparation of the document for the first reading, MPs, factions, groups and committees of the Verkhovna Rada submitted 2,099 proposals on the draft state budget for 2025, which the Government submitted to Parliament on 14 September.

The conclusions of the Budget Committee, in particular, include:

• allocation of the remaining educational subvention in 2025 to the special fund of the Ministry of Education and Science with further distribution by the Government’s decision, taking into account the intended purpose and for the implementation of measures in the field of education;
• distribution of expenditures for the implementation of public investment projects;
• transfer of the source of revenues for the creation of the state road fund in full to the general fund (UAH 43 billion) and allocation of the released funds to reduce the state budget deficit, increased spending on priority needs, primarily on national security and defence.

“The state budget approved in the first reading is a response to the needs of the time. Defence funding and social programmes are the priorities we have identified together with the Parliament. This approach allows us to maintain a balance between the urgent needs and strategic tasks facing the country,” Minister of Finance Sergii Marchenko said.

According to the rules of procedure, the second reading of the draft law on the state budget for the next year is to be completed no later than 20 November, and the final adoption is to be completed no later than 1 December.