Cabinet of Ministers cuts unemployment benefits by almost 27% – resolution
This year, 11.86 billion UAH is to be allocated for payment of unemployment benefits, by contrast, 16.09 billion UAH was allocated in 2022
What happened? The Cabinet of Ministers has approved the budget of the Compulsory State Social Unemployment Insurance Fund for 2023, which provides for a reduction in unemployment benefits compared to last year.
Source. Resolution No. 85 of January 31, 2023, published on the website of the Cabinet of Ministers.
Details. According to the document, as of the beginning of the year, almost 2.1 billion UAH remained in the Fund's accounts. This year's revenues are expected to amount to 16.16 billion UAH. Expenditures are plannned to reach 16.98 billion UAH, of which 11.86 billion UAH will be used to pay unemployment benefits. This is almost 27% less than last year. To compare, in 2022, 16.09 billion UAH was allocated for payments to the unemployed, and 19.33 billion UAH for the Fund's expenditures.
According to the estimate, this year another 1.8 billion UAH is to be allocated for microgrants to start or develop business; 2.96 billion UAH – for the maintenance of the State Employment Service and related government agencies; 1.28 billion UAH – for the return of funds additionally allocated by the government in 2020.
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