Repair of roads: Zelensky signed amendments to the Budget code concerning the financing

Ремонт дорог: Зеленский подписал изменения в Бюджетный кодекс относительно финансирования

The President of Ukraine Vladimir Zelensky signed amendments to the Budget code on the effective financing of the development of the road sector, in particular, should allow local authorities to borrow to repair local roads in 2020. This was reported in the OP.

We are talking about the law “On amendments to the Budget code of Ukraine” No. 677-IX, which the Verkhovna Rada adopted on 4 June.

“The document ensures effective financing of development of road industry of Ukraine. Thanks to this law the regional state administration will be able to attract additional funding in the form of credit funds for repairs of local roads in 2020,” — said the press service of the President.

According to the document, 90% of the total subsidy is divided between the relevant local budgets (except the budget of the city of Kiev), depending on the length of local roads in the respective administrative-territorial unit on 1 January of the year preceding the planned. These funds can be directed for the construction, reconstruction, repair and maintenance of streets and roads of communal property in settlements in the amount of not more than 20% of the volume of such grants, approved by the law on State budget of Ukraine for the corresponding local budget.

In Ukraine the gas reserves in underground storage facilities exceeded 19.5 billion cubic meters

Also, these funds can be spent on repayment and servicing of local debt in local domestic and foreign borrowings attracted for the implementation of repair and construction works on motor roads of General use of local significance and municipal property, in the amount of not more than 30% of the volume of such subventions.

As reported, due to the bad weather in the West of Ukraine caused damage to infrastructure on 234 million UAH.