Local budget revenues increased by 15 percent compared to last year - Ministry of Finance
Kyiv • UNN
Local budget revenues increased by 15% year-on-year and amounted to UAH 407.3 billion as of December 1, 2023, which indicates a return to pre-war levels.
There is an increase in local budget revenues. Revenues are gradually returning to pre-war levels. Local budget revenues increased by 15% compared to the same period in 2022. This was announced by the Ministry of Finance of Ukraine, referring to the First Deputy Minister of Finance Denys Uliutin, UNN reports.
As of December 1, 2023, the general fund of local budgets, excluding intergovernmental transfers, received UAH 407.3 billion, or UAH 52.8 billion (+ 15%) more compared to the corresponding period of 2022
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Ulyutin also emphasized that capital expenditures account for almost 26% of all local budget expenditures, namely UAH 187 billion, and said that work is currently underway to strengthen the financial capacity of local governments. this is done by improving budget and tax legislation and against the background of these changes, it is planned to improve the mechanism of horizontal equalization of the tax capacity of local budgets.
In addition, the Deputy Minister reported that a number of transfers are planned for the next year aimed at restoring the regions and supporting the population, including UAH 33.4 billion of additional subsidies to local budgets that suffered the most during the war.
