Minister of Finance: We lack $29 billion of external financing for the state budget
According to him, next year it will be necessary to look for additional domestic sources of income
The draft state budget of Ukraine for 2024 provides for $41 billion of external financing, of which there is no confirmation of $29 billion, and next year it will be necessary to look for additional domestic sources of revenue.
Source. This was stated by Finance Minister Sergiy Marchenko, Interfax-Ukraine reports.
"This is my problem, how to close them. This is the government's problem, the embassies' problem, the president's problem. We are looking for a way to close these $29 billion," the Finance Minister said at a webinar organized by the Center for Economic Strategy on Tuesday about the "military" personal income tax.
According to Marchenko, if there is a shortfall of $5-10 billion, this is a problem that can be solved "within the budgetary framework."
"We will cut spending somewhere, and maybe increase taxes somewhere. But if this problem is $20 billion, I honestly don't know... Moreover, I am more than sure that it will be so, that next year we will return to the issue of finding additional resources," the Minister of Finance said.
He emphasized that he does not yet have an answer to the question of how to cover all the necessary requests from the Ministry of Defense and the Armed Forces next year.
"We have reached the limit in terms of our taxation restrictions, and we are also close to the limit in terms of domestic borrowing. Therefore, the search for internal resources is the most urgent issue now," Marchenko said.
In this regard, he once again emphasized the importance of redirecting UAH 122 billion of personal income tax (PIT) from the military to the state and local budgets, including UAH 25.8 billion this year and the rest next year.
"I think this is not the last unpopular decision for 2024," the MP predicted, commenting on the redirection of military personal income tax from local budgets to the state budget.
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