You're reading: Kyiv ups city budget revenues by almost UAH 300 million

Kyiv City Council has increased the city budget revenue figure for 2012 by UAH 288.329 million, to UAH 17.168 billion, up from UAH 16.880 billion.

This was stipulated in Kyiv City Council decision No. 465/7802, dated April 26, 2012, which was published in the Khreschatyk newspaper on Tuesday, which amends the Kyiv budget for the current year.

According to the document, additional subsidies from the national budget increased by UAH 536.621 million, to UAH 569.948 million, from UAH 33.327 million. These funds will be used to align the budget fiscal provision (UAH 200 million), provide social services to the most vulnerable segments of the population (UAH 6.373 million), pay wages to budgetary institution employees (UAH 76.399 million), encourage the local authorities to over-fulfill annual payments of profit tax and excise duty (UAH 252.872 million), etc.

In addition, the authority increased the Kyiv budget expenditures for 2012 by UAH 1.391 billion, to UAH 18.383 billion, up from UAH 16.992 billion.

The costs of the implementation of national and regional sectoral programs were increased by UAH 209.775 million, to UAH 6.732 billion.

The ceiling amount of Kyiv’s debt grew by UAH 1.45 billion, to UAH 9.52 billion.

As reported, the city council also foresaw in the city budget a domestic loan worth UAH 3.5 billion, including UAH 2.4 billion to repay eurobonds worth $250 million issued in 2007. Some UAH 1.1 billion will be spent on preparing for Euro 2012.