Funding to support migrants, farmers and entrepreneurs will be increased in Ukraine

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Authorities intend to increase financial support for IDPs, farmers and entrepreneurs
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15:40, 09.07.2022

The Rada increased state budget spending by UAH 81 billion.



People's deputies adopted a bill that increases state budget spending by UAH 80.9 billion (No. 7523). The money will go to social assistance to migrants, support for farmers and entrepreneurs, and to restore critical infrastructure. As reported on the website of the parliament , 244 people's deputies voted for the corresponding decision.

The Rada explained that in this way the authorities hope to support people in difficult times, stimulate business development and allocate funds for the restoration of destroyed infrastructure.

In general, we are additionally allocating UAH 80.9 billion for this through internal and external borrowing, as well as from EU aid funds, - said Olena Shulyak , head of the Servant of the People party.

According to her, UAH 73.8 billion will be used to finance monthly targeted assistance to IDPs, as well as to ensure the payment of pensions, allowances and increases to them.

It is critically important now to support businesses that will pay taxes. To do this, we allocated UAH 1.5 billion to finance a new budget program to support farms. Another UAH 4 billion will go to the Entrepreneurship Development Fund, she added.

Also, part of the funds will go to subventions to local budgets.

We understand that the local authorities do not have enough money to rebuild everything. Therefore, an additional UAH 1.6 billion will go to local budgets to restore infrastructure as part of a joint project with the International Bank for Reconstruction and Development, Shulyak summed up.

According to the adopted document, the funds will be directed to:

  • social assistance (plus UAH 5.7 billion);
  • subsidies for housing and communal services (plus UAH 3.3 billion);
  • payments of HPE (plus UAH 32.3 billion);
  • pensions (plus UAH 32.3 billion);
  • a program to support farmers and agricultural producers (plus UAH 1.5 billion);
  • Entrepreneurship Development Fund (plus UAH 4 billion);
  • "Affordable loans 5-7-9%" (plus UAH 4 billion) and subventions to local budgets for the restoration of critical infrastructure (plus UAH 1.6 billion).

The increase in spending will occur due to an increase in government borrowing by UAH 79.4 billion and proceeds from other assistance provided by the European Union by UAH 1.55 billion.

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Elena Rasenko

Elena Rasenko writes about science, healthy living and psychology news, and shares her work-life balance tips and tricks.