Consultative Council on Local Self-Government headed by Chairman of the Verkhovna Rada of Ukraine Volodymyr Lytvyn discussed Formation of Local Budgets for the Next Year

22 September 2011, 16:21

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The Consultative Council on Local Self-Government headed by Chairman of the Verkhovna Rada of Ukraine Volodymyr Lytvyn discussed formation of local budgets for the next year.

 

V. Lytvyn emphasized that budget process is essential in the light of global processes, so it is necessary to define what can be done to support social obligations of the state.

 

Minister of Finance of Ukraine Fedir Yaroshenko drew attention to the fundamental principles of the main financial document of the state, in particular to the interbudget relations. He stressed that the Government tried to make the budget understandable, transparent and balanced. "Since January 1, all territories shall be informed on their incomes, so that they could calculate their budget revenues", he declared.

 

The participants of the meeting called for improving economic situation in the regions to streamline targeted distribution of budget expenditures.

 

The Consultative Council recommends the Cabinet of Ministers and the Committee on Budget to scrutinize proposals and remarks expressed during the meeting, while adjusting the draft State Budget for 2012.

 

Preparing and ratifying local budgets for 2012, the head of regional councils together with the local state administrations shall take action to provide realistic and balanced indexes of local budgets, and make projections for the next budget periods in line with the requirements of the Budget Code of Ukraine, investment opportunities of the regions, etc.