Kyiv administration prepares draft budget with revenues of UAH 18 b and expenditures of UAH 17.7 b

Kyiv City State Administration (KSCA) has prepared Kyiv's draft budget for 2013 with revenues of UAH 18 billion and expenditures of UAH 17.7 billion, Deputy Head of Kyiv City State Administration Ruslan Kramarenko has said.

"But we will insist that the deputies not vote for the adoption of the Kyiv draft budget approved by the Finance Ministry," he told Interfax-Ukraine on Tuesday.

He said that "it's more profitable for the city to live according to the 1/12 scheme," that is if the budget is not approved before the new budget period, the city will only finance the expenditures outlined by the budget for 2012 in the amount of no more than a twelfth of annual figures per month.

KCSA will submit the city's draft budget for 2013 for consideration y Kyiv City Council on December 20.

According to the document, a surplus of UAH 300 million will be used to return loans taken to cover temporary cash deficits in 2009.

Kyiv's debt on December 31, 2013 should not exceed UAH 10.26 billion.

As reported, Kyiv City Council approved the city's budget for 2012 with revenues and expenditures of UAH 16.438 billion.