Ukrainian capital Council approves the new municipal budget
Kyiv City Council has approved the budget of the Ukrainian capital city of Kyiv for 2020 with revenue and expenses at about UAH 59 billion (US$2.5 billion) each. The document was supported by 72 out of 80 deputies at a Council meeting on December 12, according to the Council's press service.
In particular, the city's revenue will stand at UAH 58.826 billion (US$2.5 billion), including UAH 53.6 billion (US$2.28 billion) to the budget's general fund and UAH 5.1 billion (US$216.47 million) to the special fund. The major sources of financing in 2020 are the following: individual income tax at UAH 26.4 billion (US$1.12 billion); unified tax at UAH 7 billion (US$297.11 million); land fees at UAH 5.8 billion (US$246.18 million); and corporate profit taxes at UAH 5 billion (US$212.22 million).
Chairman of the Kyiv City Council Standing Committee on Budget Issues Andriy Strannikov, who was a rapporteur on the draft, said the municipal budget is balanced as expenses amount to UAH 58.826 billion (US$2.5 billion), including 38.3 billion (US$1.63 billion) for the general fund and UAH 20.5 billion (US$870.12 million) for the special fund. According to Strannikov, UAH 21.7 billion (US$921.1 million), or 37% of the budget, is to be allocated for the development of education, while UAH 10.3 billion (US$437.2 million) for transport and road facilities. "Housing and utilities sector is in third place with more than UAH 6.7 billion [US$284.4 million]," he said.
"Public Budget 2020 should be mentioned separately. We have 554 winning projects. As promised, we envisaged UAH 160 million [US$6.8 million) for their implementation," the official added.
Source: Unian