Kyiv City Council has approved the city’s deficit-free budget for 2018 with Hr 49.1 billion, or $1.76 billion, in revenue, which includes Hr 45.7 billion allocated for the general fund, which is 6.1 percent and 8 percent up on 2017, respectively.
The budget was backed by 95 Kyiv City Council members, who gathered for an extraordinary plenary session on December 21, the agency said.
Kyiv’s general fund spending in 2018 is planned at Hr 36.4 billion, and that of the special fund at Hr 12.6 billion.
“The deficit of the special fund is set at Hr 9.2 billion and will be balanced at the expense of the Hr 9.2 billion surplus of the general fund,” head of Kyiv City Council’s standing commission on budgeting, social and economic development Andriy Strannikov said.
As was reported, Kyiv’s budget January through November 2017 was fulfilled by 94.5 percent in terms of revenue. Its earnings were 26.8 percent, or Hr 9.24 billion, up year-over-year.
