The Cabinet of Ministers approved the Budget Declaration for 2027-2029: what will change?

The Cabinet of Ministers has approved the Budget Declaration for 2027-2029. The document provides for an increase in the minimum wage and social standards, and also forecasts economic growth in the next three years.

This was announced by Prime Minister Yulia Svyridenko.

According to her, the minimum wage will increase faster than prices from 2027. At the same time, the subsistence minimum will increase annually by the inflation rate plus two percentage points.

The government also plans to continue programs to support veterans, people affected by the war, and create conditions for the return of Ukrainians who were forced to leave abroad.

The budget declaration was prepared taking into account agreements with international partners and the conditions of external financial support programs.

The document is based on a scenario that assumes an improvement in the security situation from 2027. At the same time, the government has also laid out a backup scenario in case the active phase of the war lasts longer.

According to the forecast, Ukraine’s real GDP is expected to grow by 4.5% in 2027, 5.3% in 2028, and 6.7% in 2029.

The average salary, according to the government’s expectations, will increase from UAH 35,010 to UAH 44,083, and inflation will slow down from 8.9% to 5.1% during this period.

According to Svyrydenko, such an approach should ensure macroeconomic stability and create a basis for the recovery of the Ukrainian economy.