The government set the dollar exchange rate at 45.7: what does it mean for the budget

The head of the Budget Committee of the Verkhovna Rada, Roksolana Pidlasa, stated that the high dollar exchange rate anticipated in the draft state budget for 2026 has a direct impact on planned revenues. She believes that the increase in revenues is explained by the rise in minimum wage, significant payments for the military, and an increase in expenditures for these purposes, which will lead to higher receipts from personal income tax. The Ministry of Finance usually plans revenues conservatively, but they are often fulfilled. For example, tax and customs revenues in the first nine months of 2025 were 2.2% higher, and the general fund was 4.6% higher. Roksolana Pidlasa expresses faith that revenues will be fulfilled next year as well. Pidlasa also noted that the exchange rate projected in the budget may be overstated, as it was actually lower than indicated in the budget. A decrease in the exchange rate may have a positive effect, particularly in terms of lower costs for servicing state debt. Thus, the high dollar exchange rate and the currency rates projected in the state budget have a significant impact on budget revenues and may affect Ukraine's financial results in the future.