Ukrainian Parliament Passes Initial Draft of 2027 Budget
Lawmakers approved the first-reading draft with 239 votes, as security and defense take about two-thirds of planned spending and a deficit nears $37 billion.
- Ukraine's parliament backed the 2027 budget draft in a first reading on Tuesday, with 239 MPs voting in favor, 25 against and 26 abstaining. The approval allows the government to revise the plan before final submission.
- The proposal prioritizes national security, allocating roughly $107 billion—43.8% of projected GDP—to defense amid Russia's full-scale war. Prime Minister Serhiy Koretskyi called this "necessary funding for security and defense" to meet the country's wartime needs.
- Forecasts for 2027 anticipate $159 billion in expenditures against $123 billion in revenue, assuming 1.3% economic growth and 8% inflation. The draft sets the minimum monthly wage at $203 to maintain social commitments.
- MPs and parliamentary committees submitted more than 5,000 proposals and amendments following the vote. The government must revise the document in line with these recommendations before submitting the final version in November.
- Balancing wartime spending with social obligations remains a significant fiscal challenge, as the budget projects a deficit of $37 billion. Officials aim to finalize the plan after incorporating extensive parliamentary feedback.
22 Articles
22 Articles
Ukraine’s parliament approves 2027 state budget in first reading
With security and defense allocations accounting for around two-thirds of planned expenditure and a projected deficit of nearly Hr 1.7 trillion ($37 billion), the budget highlights the challenge of funding the war while maintaining economic stability and meeting social commitments.
The top priority of the State budget for 2027 remains the financing of the security and defence sector, with a budget of 4.88 trillion hryvnias, or 43.8 per cent of the projected GDP.
The Verkhovna Rada of Ukraine adopted on first reading the country's draft budget for 2027 with a budget of $107 billion for defence and security with revenues of $124 billion. The document supported 239 people's deputies with the required 226 votes, transmitting TASS with reference to the broadcasting of Rada. According to the project, total revenue in 2027 would amount to $124 billion (5.648 trillion hryvnias), while expenditures were planned …
On October 28, the Verkhovna Rada of Ukraine adopted in the first reading the budget for 2027, confirming the amendment No. 1279 on increasing the salaries of the Ukrainian military. This was announced by the People's Deputy of Ukraine Yaroslav Zheleznyak. According to him, 304 people's deputies voted for the amendment No. 1279 on increasing the salaries of the military. 239 deputies voted for the adoption of the budget. The Prime Minister of Uk…
Parliament supported the bill on first reading
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