2015 Ukraine budget explained

Budget of Ukrainian government
Year:2015
Country:Ukraine
Previous Budget:2014 Ukraine budget
Previous Year:2014
Next Budget:2016 Ukraine budget
Next Year:2016
Date Submitted:December 29, 2014
Submitter:Arseniy Yatseniuk
Submitted To:8th Rada
Total Revenue:₴475,240 billion
Total Expenditures:₴527,194 billion
Deficit:₴63,670 billion
3.7% of GDP
Debt:₴279,68 billion
Below:₴17 = $1

The 2015 budget of Ukraine is the national budget for fiscal year 2015, which runs from January 1, 2015 to December 31, 2015. The budget takes the form of a budget bill which must be agreed by Verkhovna Rada in order to become final, but never receives the signature or veto of the President of Ukraine. Actual government spending will occur through later appropriations legislation that is signed into law.

Overview

Ukraine's parliament approves austerity laws needed for the draft budget on the early morning of 29 December 2014. "This budget, like other budgets adopted in this hall, is far from perfect," Yatsenyuk said before the vote. "That’s why the budget must be reviewed no later than February 2015". The Rada was under pressure to approve a budget as soon as possible before the new financial year. Ukraine was seeking to unlock the next tranche of a $17 billion bailout loan from the IMF.

Total revenues and spending

These tables are in billions of hryvnias. The draft budget for 2015.

Receipts

ItemRequestedEnacted
Individual income tax45 000
Social Security and other payroll tax
Corporate income tax33,573
Excise tax36,525
Customs duties31,717
Estate and gift taxes
National Bank of Ukraine65,4
Other miscellaneous receipts
Total

Outlays by agency

Ministry
Spendings
nowrapEconomic Development and Trade0,8
nowrapInfrastructure0,032
nowrapSocial Policy98
nowrapRegional Development, Construction, and Communal Living1,2
nowrapEducation and Science, Youth and Sport19,7
nowrapCulture2,1
nowrapDefense90
nowrapHealth Security6,5
nowrapInterior14,8
nowrapAgrarian Policy and Food1,1
nowrapJustice5
nowrapForeign Affairs2,2
nowrapFinance1,7
nowrapEnergy and Coal Mining Industry1,5
nowrapEcology and Natural Resources3,4
nowrapEmergencies3,6
nowrapInformation0,004
nowrapVerkhovna Rada0,5
nowrapSecretariat of Cabinet of Ministers0,247

External links