Business news from Ukraine

UKRAINIAN FINANCE MINISTRY PLANS TO BUDGET SPENDING ON HEALTH CARE AT 4.5% OF GDP, ON EDUCATION AT 7.2%

5 September , 2021  

The Ministry of Finance has proposed that spending on health care is budgeted at 4.5% of GDP, on education at 7.2% in the consolidated document for 2022, the ministry said on its website on Friday.

“We plan to budget spending on healthcare at 4.5% of GDP for next year,” the press service of Deputy Finance Minister Roman Yermolychev reported, citing him speaking after a meeting with representatives of trade unions and employers regarding budgeting for 2022.

At the same time, Yermolychev emphasized the need to improve the efficiency of the use of funds not only in medicine, but also in education.

“In the field of education, funds should work for education. Next year, it is planned about 7.2% of GDP according to the consolidated budget. We assume the possibility of updating the material and technical base of schools and supporting the organization of high-quality meals for students of general secondary educational institutions,” the Deputy Minister of Finance said.

As reported, when preparing the state budget for 2021, ex-Minister of Health Maksym Stepanov insisted on the need to budget 5% of GDP on health care. In turn, Finance Minister Serhiy Marchenko said that an increase in financing of the Ministry of Health to 5% may occur in 2023 thanks to a gradual increase in this dynamics from 4.2% of GDP budgeted in 2021.

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