The Ukrainian government has unveiled its budget declaration for 2027-2029, forecasting a significant acceleration in GDP growth, targeting 6.7% by 2029. The plan includes gradual increases in social standards and outlines two potential scenarios based on the security situation in the country.
The budget declaration is built on a baseline scenario anticipating improvements in security starting in 2027. Additionally, a resilience scenario has been included to address the possibility of prolonged military conflict.
This document has been coordinated with international partners and aligns with Ukraine’s commitments under external financial support programs.
The government projects real GDP growth rates of:
- 4.5% in 2027;
- 5.3% in 2028;
- 6.7% in 2029.
According to the forecasts, the average salary is expected to rise from 35,010 UAH to 44,083 UAH, while inflation is anticipated to decrease from 8.9% to 5.1%.
In terms of social standards, the minimum wage is set to increase at a rate that outpaces inflation, while the living wage will grow at the inflation rate plus an additional 2 percentage points over the next three years.
The declaration also emphasizes continued support for veterans and individuals affected by armed aggression. It includes provisions for the return of displaced migrants and the restoration of human capital.
Finance Minister Serhiy Marchenko presented the document to the coalition in the presence of Prime Minister Yuliya Svyrydenko.
In contrast, the previous budget declaration for 2025-2027 had maintained the minimum wage at 8,000 UAH without further increases, prioritizing expenditures for defense and security sectors.
Ukraine's budget declaration for 2027-2029 outlines ambitious economic growth targets alongside enhanced social standards. The plan accounts for different security scenarios, reflecting the ongoing challenges faced by the nation.