Ukraine’s Cabinet of Ministers approved draft budget for 2023

The Cabinet of Ministers approved the draft budget of Ukraine for 2023, and now it is sent to the Verkhovna Rada for consideration.

Minister of Finance Serhiy Marchenko announced this on Facebook.

"The 2023 state budget is the budget of a country that will become stronger, strengthen its defense capabilities, be able to rebuild after damage caused by russian armed aggression, and also take care of those citizens who need it," Marchenko wrote.

As Prime Minister Denys Shmyhal reported, more than UAH 1.1 trillion, or almost 50% of the entire budget, will be allocated to the security and defense sector.

Although the draft budget has not yet been published, some details are known in advance:

• the minimum wage will remain at the level of December 2021, i.e., UAH 6,500;
• about UAH 5.5 billion will be invested in providing housing for war veterans;
• expenditures on state enterprises, apparatus, and institutions will be reduced;
• a recovery fund will appear, where the confiscated russian assets will be directed.

The priority of the state budget for next year, as noted earlier in the Ministry of Finance, will be the security and defense sector and ensuring all state social obligations.