On November 26, 2020, the Cabinet of Ministers approved the draft state budget for the year 2021, finalized by the Ministry of Finance, for the second reading and submitted it to the Parliament of Ukraine.

"We have completed the preparation of the draft State Budget 2021. It is a high-quality, well-calculated, balanced and feasible document. The Ministry of Finance has carefully considered all amendments and proposals of MPs, set out in the resolution on approving the Budget Conclusions, which provide the amendments to the document while preparing it for the second reading," noted Finance Minister Serhii Marchenko during the presentation of the document at an extraordinary meeting of the Parliament.

The Budget Conclusions were based on 2,451 proposals of parliamentarians, which, in fact, is approximately another such budget. The Ministry of Finance has taken into account the majority of proposals submitted by the parliamentarian’s, according to the priorities of expenditure and possibilities of the revenue part of the budget.

"It was important for us that all expenditures were confirmed by real revenues. There is no place for inflated or hidden revenues. In the process of finalization, we held discussions with the IMF on developing a common vision of the main budget parameters within the current program between Ukraine and the IMF - the revenues, the expenditures and the deficit indicators. In general, the budget-2021 parameters coincide with the estimates of the Fund's experts, which was important for the continuation of successful cooperation between Ukraine and the IMF, "- Sergii Marchenko said.

Details on the Ministry of Finance's website