The Cabinet of Ministers approved the draft of the 2024 State Budget for the second reading. The revenue has been increased by ₴22.2B compared to the first reading and is foreseen at ₴1.768 trillion.
In addition, the expected 2023 macroeconomic indicators, which are the basis for calculating the 2024 forecast, were clarified. In particular, these include a faster recovery for real GDP in 2023 to +5% compared to +2.8% in the previous forecast, the hryvnia exchange rate at ₴38.6 per $1 at the end of the period compared to ₴40.2 per $1 in the first reading. In the forecast for 2024, the consumer inflation indicator was adjusted downwards – from 10.8% to 9.7% (December to December).
In the draft budget for the second reading, the need for external financial support is about $41B. This amount was reduced from $42.9B due to the increase in planned revenues due to the revision of macro indicators and in consideration of additional revenues.