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6.1.1 Budget dynamics - results
The main financing source for the state budget remains printing the hryvnia. According to the Ministry of Finance, since the beginning of the war, the National Bank has bought UAH 340B ($10.84B) worth of government military bonds. The regulator secured this amount by issuing hryvnias. The second largest source was obtained from the US government, totaling $9.49B. The third largest source of income has come from the placement of domestic state loan bonds (OVDP), worth $5.79B. In fourth place was aid from the EU, which amounted to $4.85B, and in fifth place was $2.69B from the IMF. Since the beginning of the war, the government has gathered $39.75B to finance the state budget.
The Parliament of Ukraine approved the draft Law of Ukraine "On the State Budget of Ukraine for the year 2023" in the second reading and as a whole on November 3.
"Following the results of the meetings with our international partners, consideration of conclusions and proposals to the draft State Budget for 2023 submitted by the Parliament of Ukraine, following the coordination meetings and consultations, the Government has prepared the draft State Budget for the second reading.
We jointly were looking for a solution for strengthening international support in the coming year, not only to solve urgent problems related to the reconstruction of critical infrastructure and social support of citizens, but also raised the issue of further recovery of the country", - noted the Minister of Finance of Ukraine Sergii Marchenko during his speech in Parliament.
In general, about 60% of the amendments and proposals of the Members of Parliament were taken into account during the finalization of the draft budget.
"The timely adoption of the main financial document of the country allows us to continue the dialogue with our international partners regarding the sources of financing the deficit and supporting Ukraine in the fight against the armed aggression of russia", emphasized Sergii Marchenko and thanked the Members of Parliament for their constructive work in the committees of the Parliament, for their cooperation with the Government and the Ministry of Finance of Ukraine.
The main points from Sergii Marchenko's speech during the presentation of the State Budget for 2023 before the second reading:
Macro indicators
The forecast of real GDP growth in 2023 has been adjusted for more conservative assumptions about the pace of economic recovery (compared to the previous forecast).
High security risks and risks associated with the continuation of russian attacks on energy system facilities and other critical infrastructure facilities of Ukraine were also taken into account.
The real GDP growth forecast is projected at 3.2% instead of the previous
37 UKRAINE Country Report December 2022 www.intellinews.com