The return of medium-term planning of local budgets is one of the World Bank’s conditions for providing a tranche of $700 million.
President Vladimir Zelensky signed Law No. 11131, which will promote better management of local budgets and attract financing, fulfilling the conditions of the World Bank for providing a tranche of $700 million It is stated on the bill card.
The council passed the bill as a whole on September 18.
The Ministry of Finance said that the document will help ensure the predictability of the budget policy and compliance with the principle of unity of the budget system, as well as updating and bringing its individual provisions into compliance with the laws of Ukraine.
It is also expected that the law will help local governments better predict and manage available financial resources, as well as give them flexibility in budget planning.
The explanatory note mentions that the document expands the ability of local communities to attract financing through borrowing to effectively manage debt policy.
“Such changes are aimed at improving the efficiency of local financial management, stabilizing economic development at the local level and strengthening social support for citizens,” added the Ministry of Finance.
The return of medium-term planning of local budgets is one of the World Bank’s conditions for providing a tranche of $700 million under the DPL program.
We previously reported that individual entrepreneurs will once again be required to pay a single social contribution in 2025.
We remind you that today the Verkhovna Rada approved the draft amendments to the Tax Code. It is expected that from October 1, individual entrepreneurs of the first, second and fourth groups will pay a military tax in the amount of 10% of the minimum salary. Individual entrepreneurs of the third group will pay 1% of the turnover.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.