Ukraine's Cabinet Approved Draft 2022 Budget With 3.5% Deficit, 3.8% GDP Growth

Ukraine's Cabinet Approved Draft 2022 Budget With 3.5% Deficit, 3.8% GDP Growth

The Ukrainian cabinet approved and sent for consideration to the parliament a draft state budget for 2022 with a 3.5% deficit, a 3.8% GDP growth and 5.95% of GDP envisioned for security and defense spending

KIEV (Pakistan Point News / Sputnik - 15th September, 2021) The Ukrainian cabinet approved and sent for consideration to the parliament a draft state budget for 2022 with a 3.5% deficit, a 3.8% GDP growth and 5.95% of GDP envisioned for security and defense spending.

The meeting, held on Wednesday, was broadcast on the Ukrainian government's YouTube channel.

According to Ukrainian Prime Minister Denis Shmyhal, the draft budget stipulates "a record high GDP growth for the past 10 years." The economy growth will total 3.8%. The minimum wage will near $244, the average wage will be around $590, nearing $656 by the end of the year. Minimum wage for doctors will rise to $750.

The national security and defense sector will be allocated 319.4 billion hryvnias (about $11.9 billion), of which 131 billion hryvnias will be provided to the defense ministry.