Zelensky signs law amending Budget Code for US mineral agreement

Ukrainian President Volodymyr Zelensky has signed a law amending the Budget Code, allowing mining revenue to be transferred to the Ukraine-U.S. Reconstruction Investment Fund, according to the Verkhovna Rada, Ukraine's parliament, on Thursday.

According to an agreement to establish the fund signed on April 30 in Washington, D.C. by Ukrainian First Deputy Prime Minister and Economy Minister Yulia Svyrydenko and U.S. Treasury Secretary Scott Bessent, the fund will be partially financed by new royalties on Ukraine's mineral resources, gas and oil.

The newly signed law stipulates that some of the earnings from the mineral resources will be credited to a special fund of the state budget and, by decision of the chief administrator, will be transferred to the Reconstruction Fund.

Zelensky signs law amending Budget Code for US mineral agreement

The U.S. share of global GDP under President Donald Trump has fallen to its lowest level since 1980, Russian news agency RIA Novosti reported on Saturday.

RIA Novosti said data from the World Bank and the International Monetary Fund show that U.S. purchasing power parity sank to 14.65 percent last year.

That's compared to an average of 14.93 percent during former President Joe Biden's four years in office.

U.S. share of global economy hits lowest point since 1980: Russian media