You're reading: Kyiv gets additional Hr 270 million subsidy from state budget

Kyiv has received an additional subsidy of Hr 270 million from the state budget, Deputy Head of Kyiv City State Administration Ruslan Kramarenko has said.

He said that the subsidy was allocated by redistributing funds for the programs of the Finance Ministry, the administration’s press service reported.

In particular, such a subsidy was made possible due to a reduction of Hr 51.8 million in the amount of funds provided for the reimbursement of the interest rate on an EBRD loan to upgrade the fleet of buses and trolleybuses as part of preparations for Euro 2012.

"The savings arose due to the fact that a loan on the purchase of buses and trolleybuses will be attracted only at the end of December, and we still have funds that were not used this year," Kramarenko said.

He also said that in connection with the receipt of an additional subsidy from the state budget, Kyiv City State Administration had proposed that Kyiv City Council adjust the city budget for 2011.

In particular, it is envisaged a reduction in the revenues of the general fund of the city budget by this amount, including revenues from the rent of municipal property by Hr 56.4 million and other revenues by Hr 213.6 million.