Wednesday, December 28 2016 19:32 EET
Ukraine
Poroshenko signed the State Budget of Ukraine for 2017: defense expenditures, new minimum wage, local financing
Poroshenko, State Budget, Ukraine, 2017, defense expenditures, minimum wage, local financing, investment, Verkhovna Rada, Government, Armed Forces, GDP

President of Ukraine Petro Poroshenko signed the Law on the State Budget of Ukraine for 2017.

Petro Poroshenko emphasized that from the very beginning, ruining traditions of the previous years, the Government had submitted the State Budget to the Verkhovna Rada in time. The President reminded that the budget had been discussed in details at the NSDC session in the context of the expenditures for the security and defense sector. According to him, these expenditures amount to 5.2% of GDP and “are primarily focused on the funding of the Armed Forces of Ukraine including not only the fixation of financial, health, clothing and food security, but also the state defense order”.

“For the first time, new samples of weaponry designed over the past two and a half years will shift from the process of testing to the direct setting into service significantly increasing combat capability of the Armed Forces,” the President said. Herewith, he emphasized that other security agencies would also be provided with additional funding.

The Head of State particularly noted that the Government, President, Prime Minister and Parliament had jointly made revolutionary unprecedented steps to enhance labor protection – minimum wage was raised to 3200 hryvnias.

“It is very important that the salary of teachers, doctors, qualified workers is being increased. Finally, we have an opportunity to ensure proper material support for the working people,” the President said.

Petro Poroshenko emphasizes that the adopted budget is social, reform-oriented, defends Ukrainian producers, workers and improves the investment climate in the state significantly.

The Head of State noted that the budget for 2017 included unprecedented expenditures for the road construction.

The President emphasized that the decentralization reform in the country for the third year in a row had caused significant increase of local budgets and their opportunities. The Head of State noted that the budgets of local communities’ development had increased 5-6 times.

The Head of State expressed hope that after thorough analysis of our legislative amendments by the international experts and investors, Ukraine’s positions in the Doing Business rating would be further raised.

“This is the completion of a very important stage, which proves the efficiency and importance of coordinated actions of the Government, Prime Minister, Parliament and President,” the Head of State said.

The President also signed Laws “On the Increase of Expenditures for Wages of Employees of State Coal Mining Enterprises”, “On Amendments to Several Legislative Acts of Ukraine on Increasing Minimum Wage to 3200 UAH”, “On Amendments to the Budget Code”.

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