The Verkhovna Rada adopted the draft State Budget-2025 as a whole: key indicators and expectations
On November 19, the Verkhovna Rada of Ukraine adopted the draft State Budget for 2025 in its entirety. 257 People’s Deputies voted for this decision, about what reported People’s Deputy Yaroslav Zheleznyak.
The main parameters of the budget for 2025
Sources of income
The main part of budget revenues will be tax revenues (approximately UAH 2 trillion) and external borrowings, which will exceed UAH 1.7 trillion.
Financing of expenses
Of the total amount of expenditures, which will amount to UAH 3.94 trillion, 42.9% is planned to be financed by external borrowing, and 57.1% by internal revenues.
Budget deficit
The budget deficit is expected at the level of UAH 1.6 trillion, which will amount to 19.4% of GDP. To cover it, external loans and income from placement of domestic state loan bonds (OVDP) will be used. It is predicted that the state and state-guaranteed debt will reach 101.8% of GDP by the end of 2025.
Economic forecasts
Nominal GDP growth: up to UAH 8.466 trillion.
Real GDP growth: expected at 2.7%.
Inflation: The average rate is projected at 9.7%, almost double the projected rate for 2024 (5.4%).
The average annual exchange rate of the hryvnia to the US dollar: forecasted at the level of 45 hryvnias/dollar.
The level of wages and unemployment
The average salary in 2025 should increase to UAH 24,400 per month.
The unemployment rate is expected at the level of 17.7%, which indicates a gradual improvement of the situation on the labor market.
In addition, Zheleznyak noted:
“Record expenditures at the level of UAH 3.94 trillion. Of these, defense expenditures amount to UAH 2.22 trillion. Income is UAH 2.3 trillion (including UAH 141 billion from tax law project 11416d). Next year, we still expect external financing of 38.4 billion $”.
