President Zelensky signed Law No. 553-IX on amending the state budget for 2020. The changes relate to financing aimed at combating coronavirus and the global economic crisis. This is stated on the website of the president.
64.7 billion UAH (2.3 billion USD) will be allocated from the state budget to the Coronavirus Foundation. The state budget also provides for UAH 15.8 billion (568 million USD) for surcharges to salaries for health workers, and the costs of the Ministry of Health will be increased by UAH 16.4 billion (590 million USD).
The law also provides for 10.6 billion UAH (381 million USD) for added funds to pensions, and the expenses of the Ministry of Social Policy will be increased by 19.5 billion UAH (701 million USD). In addition, UAH 3 billion (108 million USD) will be additionally allocated to the reserve fund.
It is worth noting that almost 70 billion UAH (2.5 billion USD) has been allocated in the state budget for the construction and repair of roads. Expenditures on ensuring the state’s defense and security and supporting the agro-industrial complex will not be reduced.
Earlier the law on a single account for the payment of taxes and fees came into force. The purpose of this law is to create a single account for the payments, which should solve many technical problems during the transfer of taxes and fees, optimize the work of tax authorities and simplify the life of the business.
The parliament adopted this law in the second reading and as a whole on October 4 of last year. But Ukrainian President Volodymyr Zelensky vetoed it since the 8th amendment of this document caused considerable indignation among manufacturers of the tobacco industry, because of which they even stopped production at several factories. As a result, the underfulfillment of the excise tax collection plan amounted to about 3 billion UAH (almost 108 million USD).