The Cabinet of Ministers of Ukraine has distributed a UAH 900 million stabilization subsidy from the national budget to local budgets for 2017.

According to government resolution No. 873 dated November 15, 2017 posted on its website on November 21, the largest recipients of the subsidy were local budgets of Chernivtsi region (UAH 51.2 million), Zakarpattia region (UAH 47.65 million), Ternopil region (UAH 47.4 million), Ivano-Frankivsk region (UAH 46.4 million) and Rivne region (UAH 44.33 million).

The report, which is attached to the government resolution, says that the distribution of these funds will allow to level the budget imbalances that have arisen as a result of reforming intergovernmental fiscal relations in the context of budgetary decentralization, as well as to raise the level of financial solvency of local budgets in order to ensure that local governments provide basic guaranteed services to the population.