Business news from Ukraine

Business news from Ukraine

Draft state budget provides more than UAH 12 bln for Ministry of Reconstruction and more than UAH 26 bln for State Agency for Reconstruction

16 September , 2023  

The draft state budget for 2024 provides UAH 12.5 billion for the Ministry for Communities, Territories and Infrastructure Development (MinRestore) and UAH 26.3 billion for the State Agency for Reconstruction and Infrastructure Development.

The relevant document was published by MP Yaroslav Zheleznyak on his Telegram channel on Friday.

According to the draft law, the Ministry of Reconstruction is proposed to receive UAH 2.4 billion. The State Inspectorate of Architecture and Construction is proposed to receive UAH 147.8 million in 2024. The state budget provides UAH 47 million for the creation of the Urban Planning Cadastre.

The draft law provides for an increase in the authorized capital of the State Fund for Youth Housing Construction (Derzhmolodzhytlo) by UAH 23.9 million, as well as financial support in the amount of UAH 6.1 million. UAH 5.8 million was allocated to partially compensate for the interest rate on mortgage loans for young families.

UAH 82.8 million is proposed to be allocated in the state budget for the implementation of the Housing Opportunities for People’s Empowerment (HOPE) project, as well as UAH 248.4 million in the form of a subvention to local budgets.

UAH 9 billion is planned to be allocated for subventions to local budgets, of which UAH 4.5 billion is for the implementation of projects under the Ukraine Recovery Program; UAH 2.3 billion is for the implementation of projects under the Emergency Credit Program for the Recovery of Ukraine; UAH 519.5 million is for the restoration of critical infrastructure facilities under the Urban Infrastructure Development Project – 2 jointly with the International Bank for Reconstruction and Development (IBRD).

In addition, the draft state budget proposes to allocate a subvention of UAH 722 million for the extension of the third metro line in Kharkiv and UAH 549 million for the completion of the Dnipro metro.

At the same time, the draft does not include funding for the State Fund for Regional Development.

The draft state budget for 2024 also provides for funding for the State Fund for Decarbonization and Energy Efficient Transformation in the amount of UAH 759.2 million from the special fund. UAH 90.2 million is allocated for energy efficiency of public buildings.

In addition, UAH 155.4 million is earmarked for the development of the water supply and sewage system in Mykolaiv.

It is proposed to allocate UAH 23.1 million to the State Agency for Tourism Development.

Of the funds provided for in the draft state budget to finance the Recovery Agency, UAH 23 billion is intended to fulfill debt obligations on loans for the development of the public road network; UAH 3.1 billion is intended for the implementation of infrastructure recovery projects under the Support for the Rapid Recovery of Ukraine program.

As reported, earlier on Friday, the government approved the draft law “On the State Budget of Ukraine for 2024”.