2015 state budget: revenues of 475.2 billion, expenditures of 527.2 billion, a drop in GDP of 4.3%, inflation of 13.1%, the minimum wage of 1378 UAH and 2% of the tax on the purchase of foreign currency
The Cabinet of Ministers proposes to the Parliament to approve the state budget for 2015 with revenues of UAH 475.239 billion and expenses of UAH 527.193 billion.
This is stated in the revised Cabinet of Ministers bill number 1000, registered in Parliament on December 22
State budget revenues are proposed to be set at 475.239544 billion hryvnias, including general fund revenues - 452.771253 billion hryvnias and special fund revenues - 22.468290 billion hryvnias.
It is proposed to establish state budget expenditures at the level of 527.193946 billion hryvnias, including the general fund - 502.936681 billion hryvnias and the special fund - 24.257264 billion hryvnias.
The Cabinet of Ministers proposes to the Verkhovna Rada to approve a public debt of 68.3% of GDP and a budget deficit of 3.7% of GDP in 2015. According to the draft state budget, the maximum amount of state debt as of December 31, 2015 may amount to 1,176.060356 billion hryvnias.
In 2015, state guarantees can be provided in the amount of up to 25 billion hryvnias.
The limit of the state budget deficit for the next year is set at 63,669.6 million hryvnias, including the deficit of the general fund of the state budget - 49,880.604 million hryvnias.
The Cabinet of Ministers proposes that the Verkhovna Rada increase in 2015 the cost of living to 1,330 hryvnias, the minimum wage - to 1,378 hryvnias. It is established that in 2015 the cost of living from January 1, 2015 will be 1176 hryvnias, and from December 1 - 1330 hryvnias.
For the main social and demographic groups: children under 6 years old from January 1, 2015 - 1,032 hryvnias, from December 1 - 1,167 hryvnias; children aged 6 to 18 years from January 1, 2015 - 1286 hryvnia, from December 1 - 1455 hryvnia; able-bodied persons from January 1, 2015 - 1218 hryvnias, from December 1 - 1378 hryvnias; persons who have lost their ability to work, from January 1, 2015 - 949 hryvnias, from December 1 - 1074 hryvnias.
The draft state budget 2015 provides for an increase in the minimum wage and its establishment in the amount of: from January 1 - 1218 hryvnias, from December 1 - 1378 hryvnias.
Currently, the cost of living is 1176 hryvnias, the minimum wage is 1218 hryvnias.
The Cabinet of Ministers proposes that the Verkhovna Rada extend the military levy until January 1, 2016 and increase the levy on compulsory state pension insurance for foreign currency purchase transactions from 0.5% to 2%. A military duty of 1.5% on the income of individuals was temporarily introduced by the Verkhovna Rada on July 31.
It was assumed that it will operate until the end of 2014.
Pension tax of 0.5% from currency purchase transactions was introduced by parliament in late March.
The Cabinet of Ministers proposes to the Verkhovna Rada to approve the forecast for a decrease in GDP in 2015 by 4.3% with inflation 13.1%. At a government meeting held on December 22, the forecast of economic and social development of Ukraine for 2015, developed by the Ministry of Economic Development and Trade in two scenarios, was approved.
According to the Ministry of Economy, the forecast assumes a certain intensification of economic activity in the 2nd half of 2015 as a result of the implementation of economic reforms and is based on the fact that: the military conflict in the east will end; problems with gas supplies to Ukraine at a reasonable price will be solved; donor assistance will be received; The National Bank’s policy aimed at supporting growth is being implemented; cooperation with the European Union will deepen.
Scenario 1 of the macroeconomic forecast for 2015 generally complies with IMF estimates and provides the following indicators: real GDP will fall by 2%, nominal GDP will increase to UAH 1 751.0 billion, inflation will be 11.2%, and producer price index 14.1% , the wage fund is projected at 472.6 billion hryvnias, the average monthly wage will be 3,934 hryvnias and in real terms will decrease by 2.5%.
Profit of profitable enterprises is expected at the level of 281.2 billion hryvnias, export will decrease by 4.8% and amount to $ 61.8 billion, import volume - by 7.7% and amount to $ 64.2 billion.
Given the fact that at the moment it is very difficult to take into account the whole spectrum of unpredictable factors in the macroeconomic forecast for rapidly changing events in the country, the Ministry of Economy has developed scenario No. 2, which is more conservative.
In order to minimize risks, the basis for calculating the indicators of the draft state budget for 2015 was chosen as scenario 2, according to which the real GDP will fall by 4.3%, the nominal GDP of UAH 1 720.8 billion, inflation is projected at 13.1%, the price index manufacturers of 15.2%.
According to scenario 2, the wage fund is projected at 467 billion hryvnias, the average monthly wage will be 3,882 hryvnias, and in real terms it will decrease by 4.4%.
Profit of profitable enterprises is expected at the level of 272.1 billion hryvnias, export will decrease by 8.9% to $ 59.1 billion, import volume - by 12.8% to $ 60.7 billion.
Recall, the Cabinet of Ministers proposes to the Parliament to extend the military levy until 2016 and increase the pension levy when buying foreign currency from 0.5% to 2%.