OPPOSITION PLATFORM — FOR LIFE has drafted a bill that proposes amendments to the budget-2020, including increasing of social expenses by 200bln hryvnia, and costs for economic development and regions’ support by 60bln hryvnia. According to MP Serhiy Lovochkin, the additional funds will be derived from the revision of macroeconomic forecast and inefficient expenses.

“The state budget must correlate with the reality. OPPOSITION PLATFORM – FOR LIFE proposes to increase the cost of living by 175 percent by the end of the 2020 year — up to 5,569 hryvnia. Thus, it will finally top the real cost of living, which hadn’t been the case for over the past five years,” Lovochkin said.

The MP says the increase will allow raising the rest of social expenses that rely on the cost of living, including childbirth payments, allowances for families with multiple children, and disability allowances.

“In addition, the draft provides for an increase of the minimum wages effective early 2020 up to 7,713 hryvnia monthly and of minimum retirement allowance by the end of the year of up to 4,500 hryvnia, or by 2.7 times. This is the only way to help the poorest citizens overcome poverty,” the politician said.

Lovochkin added that the draft bill on amendments to the budget-2020 stipulates for an increase in education expenses by 21.9bln hryvnia, healthcare costs by 29.1bln hryvnia, state subsidies by 10bln hryvnia, and economy development and regions’ support by 60bln hryvnia.

“These funds can be found if we adopt a realistic draft of the state budget. Correcting the macroeconomic growth and increasing the forecast GDP growth will provide up to 130bln hryvnia, given that the Donbas blockade is lifted and fiscal impulses for economic restart are increased. Cutting expenses on law enforcement agencies (except for the Defense Ministry) and public administration will allow redistribute over 55bln hryvnia. Passing this version of the budget will allow fulfilling most of the parliamentary campaign promises by our party and the party of power,” Lovochkin said.