Local budgets to get 5% of rent for subsoil use from 2018

11:18, 04.12.2017 1 min read

Ukraine's draft state budget for 2018 envisages the preservation of the existing revenue base of local budgets, and 5% of rental payments for subsoil use will be transferred to these budgets from the beginning of next year, Ukrainian President Petro Poroshenko has said.

"Starting from January 1, 2018, 5% of rental payments for subsoil use will be transferred to local budgets," he said during the second All-Ukrainian Forum of United Communities "Life-Changing Initiatives" in Kyiv on Monday.

According to Poroshenko, almost UAH 2 billion is to be spent on the formation of the infrastructure of united territorial communities next year.

"In general, state support for local government projects in 2018 will reach 18.5 billion [hryvnias]," he added.

Poroshenko also expressed hope that this week the Verkhovna Rada would adopt at second reading and as a whole the state budget for 2018.