Government sets priorities for regional subsidies in 2016

3/16/16

Following the proposal of the Ministry of Finance, the Government has set priorities for regional development subsidies in 2016 which amount UAH 1.94 bln in the state budget for the current year.

The Ministry of Finance is working to ensure the effective use of public funds and to improve the targeting of subsidies from the state budget assigned for regional development. With this purpose, the Government on March16 adopted a decree setting concrete areas of use for the subsidies to the local budgets meant for the social and economic development of selected territories. This decree also changes the procedure and terms for the assignment of such subsidies.

According to the Decree, the priority areas to be supported with the subsidies are as follows:
- construction and re-construction of educational and healthcare facilities which are 90% complete and ready for use;
- construction, re-construction and overhaul of motorways;
- implementation of projects for energy efficiency and energy saving.

Thus, the Decree shall contribute to the effective use of budget funds and to the completion or re-construction of educational and healthcare facilities which are almost complete and ready for use. These funds should also be used for the implementation of projects for energy efficiency and energy saving as well as for the construction of municipal motorways.

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