Kyiv City Council has approved the city's deficit-free budget for 2018 with UAH 49.1 billion, or $1.76 billion, in revenue, which includes UAH 45.7 billion allocated for the general fund, which is 6.1% and 8% up on 2017, respectively.

The budget was backed by 95 Kyiv City Council members, who gathered for an extraordinary plenary session on Thursday, December 21, the agency said.

Kyiv's general fund spending in 2018 is planned at UAH 36.4 billion, and that of the special fund at UAH 12.6 billion.

"The deficit of the special fund is set at UAH 9.2 billion and will be balanced at the expense of the UAH 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% in terms of revenue. Its earnings were 26.8%, or UAH 9.24 billion, up year-over-year.