Government approves draft law on restoring the system of budget forecasts at the local level
Kyiv • UNN
The government has approved a bill to restore medium-term budget planning for local communities, especially in the areas affected by military operations, which will allow them to forecast budgets for several years ahead and attract funding for economic development and social support.
The government proposes to allow local authorities to make budget forecasts for several years ahead, especially in the areas where military operations are underway. This was reported by the Ministry of Finance, UNN reports.
Details
The Cabinet of Ministers of Ukraine has approved a draft law aimed at improving budget planning at the local level. This initiative is aimed at restoring medium-term planning and adapting budgetary norms to the current needs of communities and the challenges the country faces.
The main aspects of the draft law include:
- Restore medium-term planning of community budgets for better forecasting and management of financial resources;
- Supporting regions recovering from destruction and occupation by providing them with flexibility in budget planning;
- Empowering local communities to attract financing through borrowing and guarantees to stimulate economic development and investment.
It is noted that such changes will be aimed at improving the efficiency of local financial management, stabilizing economic development at the local level and strengthening social support for citizens.
Recall
The draft law on local administrations, which is being prepared for consideration by the Verkhovna Rada, establishes administrative oversight of decisions of local self-government bodies and proposes a new mechanism for selecting and appointing heads of local state administrations.
