Payments to Local Budgets will Increase up to UAH 533 Billion by 2020, the Ministry of Finance

The Government plans to increase payments to local budgets up to UAH 533 billion by 2020. It was stated so by Minister of Finance of Ukraine Oleksandr Danyliuk when presenting a draft of the medium-term budget planning for 2018-2020, the UNN news agecy reports.

"We continue to increase the financial resource of local budgets. In 2018, the amount of resources will total almost UAH 500 billion, that is by 16 % more than in 2017, and by 2020, that amount will total UAH 533 billion", Oleksandr Danyliuk said.

According to him, the anticipated amount of revenues of local budgets will also increase from UAH 248 billion in 2018 to UAH 284 billion in 2020.

According to him, the Government sets a goal of ensuring independence of local budgets and enhancing their financial capacity, increasing the transparency and efficiency of budgetary funds management at the local level.

"The key point is that we want to complete the reform on establishment of amalgamated communities because we need to have solvent communities", Oleksandr Danyliuk said.

As is known, the Cabinet of Ministers of Ukraine approved today a draft of the Budget Resolution for the period until 2020, which resolution initiates a new process of government finance planning for a medium-term period and provides for the Ukrainian economy growth by 4% by 2020, decline in inflation to 5% by 2020, reduction of the budget deficit to 2%, and decrease of the debt/GDP ratio to 55%.

The document was prepared by the Ministry of Finance of Ukraine. It is expected that, within three days, the resolution would be finally approved and referred to the Verkhovna Rada (Parliament).

When presenting the fundamental principles of the document Prime Minister of Ukraine Volodymyr Groysman underlined, that for the first time in Ukraine the Government opens the horizon of planning for three years so that the way the country goes would be easy to understand.

He emphasised that the macro indicators included in the document constitute the basic level which might be exceeded in case when efficient decisions had been made and the required depth of transformations in the country had been reached. According to the Prime Minister, the continued decentralisation and strengthening of local budgets, increase of social standards, promotion of industry, and creation of new jobs are of primary importance

Source:

Share the news:

Коментарі:

To add comment you should be authorized or sign_in
Read more:

18 February 2020

‘ASCs crystallize the local self-government reform’, - Denys Shmyhal at the Anticipating Services conference

‘ASCs crystallize the local self-government...

Administrative services, particularly, their quality and availability, being the element of comfort for any hromada...

18 February 2020

We are either completing the decentralisation process or losing time and human belief in changes for the better, - Vyacheslav Nehoda

We are either completing the decentralisation...

‘Decentralisation will be successful and valuable if people are provided with all the necessary services in their...

18 February 2020

9.5 mln residents of hromadas to receive quality administrative services with support of U-LEAD with Europe Programme

9.5 mln residents of hromadas to receive...

A total of 9.5 million Ukrainians, mostly residents of amalgamated hromadas and small cities, will begin to receive...

18 February 2020

The number of ASCs in Ukraine will double, - Denys Shmyhal

The number of ASCs in Ukraine will double, -...

Currently almost 800 administrative service centres function in Ukraine, gradually their number will rise to...

18 February 2020

E-Passport service and the Solar Hromada project have been launched at Dzvyniatska AH

E-Passport service and the Solar Hromada...

At Dzvyniatska amalgamated hromada of the Ivano-Frankivsk region the e-passport and ID card service has been launched...