Arseniy Yatsenyuk believes central and local budgets must finance beneficiary regions fifty-fifty

Prime Minister of Ukraine Arseniy Yatsenyuk has instructed to develop amendments to the Budget Code in order to establish a fair approach in financing beneficiary regions. He stated this at a board meeting of the Ministry of Finance on Monday, 27 July.

He has recalled that the Finance Ministry proposes to allocate a subsidy worth UAH2 billion from the central budget to 51 local budgets, "Why don’t regional councils with an additional resource back their local communities? Why don’t regional budgets allocate money to the beneficiary regions?"

The Prime Minister has emphasized the need to change the approach in financing the beneficiary regions, "The central budget does not give 100% but 50% of the funding for the beneficiary regions while the regional budget also gives 50%. We are to follow this fair way in solving problems in the beneficiary regions."

Arseniy Yatsenyuk has appealed to the Ministry of Finance to consult with the Budget Committee of the Verkhovna Rada of Ukraine and prepare appropriate amendments to the Budget Code till September.