On March 26, the Cabinet of Ministers of Ukraine approved a draft law aimed at improving budget planning at the local level. This step is aimed at restoring medium-term planning and adapting budgetary norms to meet the actual needs of communities and the challenges faced by the country.
The main provisions of the project are focused on:
– Restoring medium-term budget planning for communities to help them better forecast and manage available financial resources;
– Supporting regions recovering from the destruction and occupation by providing them with the necessary flexibility in budget planning;
– Empowering local communities to raise funds through borrowing and guarantees to stimulate economic development and investment.
Such changes are aimed at improving the efficiency of local financial management, stabilising economic development at the local level and strengthening social support for citizens. (Government portal)
