The city Council considered the budget for 2020

The budget of Kyiv is planned at UAH 63.7 billion in 2020, which is 5.6 billion more than the targets estimates-2019.

В Киевсовете посчитали бюджет на 2020 год

About it reports a press-service of the city Council.

“At meeting of the constant Commission of the Kiev city Council on budget and socio-economic development of the deputies considered the draft budget of Kyiv for the years 2020-2022,” – said in the message.

According to the draft decision, the following year, the city forecasts a budget at the level of 63.7 billion. Of which 59.3 billion UAH is the General Fund, the special will amount to UAH 4.4 billion. Overall, it is 5.6 billion more than the targets estimates-2019.

The main source of revenue remains the tax to incomes of physical persons, which in 2020 is projected to be 41%. Also in the structure of revenues was 21.9% for local taxes and 7.9% tax on profits of enterprises.

“However, we expect a decrease in revenues from the excise tax. This is due to the fact that next year in the local budgets do not receive the excise tax on petroleum products. Also projected to decrease revenues by key indicators of filling of the budget development. In particular, 2021, according to the decision of the Verkhovna Rada, the local budgets will not be counted equity participation. So our plans for 450 million UAH are very optimistic, because, apparently, many developers will wait for 2021 to avoid paying the equity. This creates certain problems, because equity is a source of formation of the budget of development”, – said the first Deputy Director of the Department of Finance of Kyiv city state administration Oleksandr Root.

In General, the main financial document for the year 2020 is balanced. That is, the costs do not exceed revenues.

“Traditionally, a large part of the budget, the city plans to invest in the educational sector. In 2020 – a third of the city estimates more than 19.9 billion UAH. Health lay 9.58 billion UAH on social protection and provision – UAH 8.1 billion. 1.5 billion UAH compared with the previous year, increasing funding for transport infrastructure. Spending on housing and utilities will amount to 3.7 billion UAH”, – said the Chairman of the constant Commission of city Council concerning the budget Andrei Wanderers.

A draft of the estimates, the deputies took note, in the near future should submit their edits and comments.