Rada adopted amendments to the Budget Code and fulfilled the IMF's beacon: what's new in the distribution of funds

The Verkhovna Rada has adopted draft law No. 12245, which changes the system of capital expenditure allocation. The innovations include concentrating financial resources on the most important projects and the restoration of fines for delayed arms deliveries, said the head of the Budget Committee, MP Roksolana Pidlasa on Thursday, UNN reports.

Details

"The Verkhovna Rada has adopted amendments to the Budget Code No. 12245. This is a beacon of the IMF (with the deadline of the end of January - on time!)," Pidlasa wrote on Facebook.

According to her, the innovations are as follows:

• prioritizing most capital expenditures at the government level and concentrating financial resources on the most important projects, rather than scattering them across hundreds of objects in dozens of budget managers,
• selection of projects according to uniform rules and criteria, rather than separate procedures for each fund or subvention,
• funding from the budget only those objects that have been evaluated and recognized as feasible and necessary to implement (which eliminates personal political influence on the distribution of funds),
• having a single portfolio of investment projects that can be offered for financing to international donors,
• displaying the decision-making process for public investment projects and the results achieved online.

According to Pidlasa, they also took into account several important amendments:

• 620 - reinstatement of fines for unscrupulous suppliers for delaying the supply of weapons to the frontline;
• 475 - expanding the range of entities that can apply for youth grants (more competition - better projects);
• 536 - the issue of repayment of local budget debts of 2008-2009 to the state budget, which was in the first reading, was removed

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