Business news from Ukraine


15 December , 2020  

The draft budget of Kyiv for 2021 provides for an increase in the revenue part by 1.3% in comparison with the expected implementation of the budget for 2020, to UAH 59.2 billion, expenses are planned at the level of UAH 56.6 billion, the press service of Kyiv City State Administration has said.
According to the report, the draft budget provides for the allocation of more than UAH 10 billion for infrastructure development, including UAH 3.4 billion for construction and reconstruction. Another UAH 1.5 billion was allocated for the municipal improvement sector.
“Due to this resource, it is planned to continue the construction of the metro line to the Vynohradar residential area, the Podilsky bridge crossing, the technical re-equipment of the Energia plant, the construction and reconstruction of preschool and educational institutions,” the director of the administration’s finance department, Volodymyr Repik, said.
According to him, spending on education accounts for 43% of the total forecast amount – UAH 24.1 billion, which is UAH 3.2 billion more than in 2020. In addition, the wage fund for teachers will amount to UAH 2.6 billion. In general, the wage fund for workers in the public and municipal sectors will increase by 26.3%.
The draft document also provides for the allocation of UAH 4.5 billion for social protection and security.
In addition, the budget provides for the repayment of UAH 2.7 billion of internal and external loans of the city.