The President signed a law that amends the Budget Code.

President of Ukraine Volodymyr Zelensky signed Law No. 4225-IX on amendments to the Budget Code, which provides for the prioritization of capital expenditures and the introduction of unified criteria for selecting projects for funding. This is reported on the parliament's website, writes UNN.

Details

The document concentrates most capital expenditures at the government level and directs funding towards strategically important projects instead of distributing funds among numerous small objects and various budgetary fund managers.

The law introduces significant changes regarding the powers of participants in the budget process, particularly in the planning, preparation, and implementation of public investment projects and public investment programs.

The document provides for:

• prioritization of most capital expenditures at the level of the Government and concentration of finances on the most important projects, rather than scattering over hundreds of objects in dozens of managers of budget funds;

• selection of projects according to uniform rules and criteria, and not separate procedures for each fund or subvention;

• funding from the budget of only those objects that have passed assessments and are recognized such that can and should be implemented

Reminder

On January 16, the Verkhovna Rada adopted Law No. 12245, which changes the system of distributing capital expenditures. The innovations include the centralization of project funding and the reinstatement of penalties for delays in arms deliveries.