Ministry of Finance of Ukraine
The Ministry of Social Policy plans to launch a funded pension system in 2026. The legislative framework and IT system for the state accumulation fund are currently being developed.
Denys Shmyhal held a meeting on expanding support programs for families with children. The ministries will develop a comprehensive strategy that will cover all stages of parenthood - from pregnancy to schooling.
In 2024, the general fund of the state budget received UAH 2. 2 trillion, of which a significant share is personal income tax and military duty. Total state budget revenues amounted to UAH 3.12 trillion, while expenditures amounted to UAH 4.48 trillion.
Starting from January 1, 2025, new requirements for the form and content of fiscal receipts will be introduced. Sellers will be fined 100% of the value of the goods sold for issuing old-style receipts.
The state budget of Ukraine received UAH 2. 2 trillion in taxes and fees, of which more than UAH 1 trillion was provided by the Tax Service. In addition, UAH 453.6 billion of international aid and UAH 546.1 billion of unified social tax were received.
Philip Pronin has become the new head of the State Financial Monitoring Service, replacing Ihor Cherkasky. Prior to that, Pronin headed the Poltava RMA and worked for ARMA.
The Cabinet of Ministers appointed Ruslan Kravchenko as the head of the State Tax Service of Ukraine. Previously, he managed the Kyiv Regional Military Administration and was a prosecutor who led the case against Yanukovych.
Finance Minister Marchenko said there are no plans to raise taxes in 2025. At the same time, a law on new rates for individual entrepreneurs has already been signed, which has led to massive closures of businesses.
As of December 26, 2024, 1520 local budgets out of 1597 have been approved in Ukraine. Volyn, Dnipro, Mykolaiv, and Kharkiv regions have approved their budgets in full.
Starting from January 1, 2025, Ukraine will change the military duty rates for individual entrepreneurs and individuals. Individual entrepreneurs of the first, second, and fourth groups will pay UAH 800 per month, and those of the third group will pay 1% of their turnover.
In 2025, more than UAH 2. 2 trillion is allocated for the Defense Forces, which is 26.3% of GDP. Funding will be provided through changes to the Tax Code and funds from the ERA program.
The Cabinet of Ministers has defined the criteria for debt restructuring of heat supply companies and water utilities affected by hostilities. The right to defer payment will be granted to enterprises with destroyed or damaged infrastructure.
Zelensky signed a law on obtaining a кредиту 50 billion loan from the G7. The funds do not need to be returned without reparations from the Russian Federation, and the return will be made at the expense of frozen Russian assets.
Ukraine and the EU have signed an agreement on macro-financial assistance of up to 35 billion euros. Repayment of the loan is planned to be carried out at the expense of profits from frozen assets of the Russian Federation in the EU.
The NBU set the official Hryvnia exchange rate at UAH 41. 6972/USD, which is 4 kopecks more. In banks, the dollar can be bought for 41.95 UAH, the euro - for 44.30 UAH.
Finance Minister Marchenko announced that the president will inevitably sign a law on raising taxes. This is necessary to balance the 2025 budget and meet the requirements of the IMF.
In the first 10 months of 2024, Ukraine allocated 58. 3% of its budget to the security and defense sector. The funds were spent on military equipment, weapons, military supplies and other defense needs.
The Verkhovna Rada has started considering the draft budget for 2025. According to the Minister of Finance, the tax bill No. 11416-d should bring in additional UAH 141 billion.
In Ukraine, they are initiating the introduction of "condolence leave" for workers who lost loved ones due to the war. Research has shown the need to allow time to recover from a loss.
The Cabinet of Ministers has approved the draft budget for 2025 with expenditures of UAH 3. 7 trillion. UAH 54.55 billion has been allocated for the development of arms production, and another UAH 500 million for soft loans to defense companies.
The leadership of the Ministry of Finance and the NBU have started discussing the sixth review of the EFF program with IMF experts. Ukraine needs to fulfill four structural benchmarks to receive the next tranche in December.
The draft budget for 2025 does not provide for an increase in the minimum wage and pensions. Social payments will remain at the level of 2024, with only annual pension indexation.
The World Bank will provide Ukraine with a grant of $1. 35 billion and €10.8 million under the PEACE in Ukraine project. The funds will be used for social and humanitarian needs of the state budget.
Since the beginning of 2024, the state budget has received UAH 497. 8 billion from the placement of domestic government bonds at auctions. In October, UAH 106.9 billion was raised, of which UAH 82.8 billion were military bonds.
The Verkhovna Rada has supported amendment No. 155, which cancels a 37% increase in prosecutors' salaries in the draft State Budget 2025. This decision was voted for by 242 MPs.
The Verkhovna Rada Budget Committee has supported the draft State Budget for 2025 for the first reading. Among the changes are the exclusion of the Road Fund and the abolition of cashback funds, and MPs submitted 2098 amendments.
The Accounting Chamber conducted the first historical audit of the Pension Fund according to international standards. The audit revealed problems with the identification of pensioners and an additional burden on the budget due to increased payments.
The IMF has optimized the schedule of tranches for Ukraine for 2025, increasing funding from $1. 8 billion to $2.7 billion. Over the 19 months of the EFF program, Ukraine has successfully completed five reviews, attracting $8.7 billion.
The updated IMF memorandum contains no commitments to raise energy tariffs in Ukraine. The Ministry of Finance reports that various options are being considered to support the country's energy stability.
The IMF has added 11 new structural beacons for Ukraine, bringing the total to 48. Ukraine expects to receive a $1.1 billion tranche to cover its budget deficit soon.