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Ukraine is actively approving local budgets

Posted by the Editor on February 4, 2014

News / 4 February 2014 | 16:12

Ukraine is actively approving local budgets

Ukraine is actively approving local budgets

The Ministry of Finance reported on the local budgets approval progress. To date, according to the ministry, Ukraine has approved 487 of 694 local budgets (70.2%)  that have a direct budgetary tie with the State Budget, whose approval deadline is February 3, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.
According to the ministry, republican budget of the Autonomous Republic of Crimea, estimates of 15 regions, the city of Sevastopol are among the approved ones. Also to date, ??138 municipal budgets of regional / republican subordination have been approved, which is 77.1% of the total, as well as 332 district budgets (68%). In fact, all budgets with a direct budgetary relations with the State Budget have been  approved in the Autonomous Republic of Crimea, Kyiv, Odessa and Poltava regions. In total, as of January 31, 29.3% of local budgets of different levels have been approved.
According to government experts, it is critical for local governments to accelerate the process of approving their own budgets. Among a number of reasons, in the first place, experts say growing social payments guaranteed by the state budget. On the ground, all necessary conditions need to be established for the speedy implementation of social securities, experts say.
What is also important, the Kyiv city has not been approved to date. According to analysts any delay with the approval jeopardizes payments to public employees, inhibits development of urban infrastructure.



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