15:23 18.05.2016

Rada adopts bill on budget fund transfers for occupied areas in eastern Ukraine

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Rada adopts bill on budget fund transfers for occupied areas in eastern Ukraine

The Verkhovna Rada intends to send funds from local budgets in temporarily occupied areas in Donbas to the general funds of Luhansk and Donetsk regional administrations.

Some 236 deputies at first reading supported corresponding bill No .4623 on amending the section "Final and Transitional Provisions" of the Budget Code.

Parliament did not have the minimum 226 votes required to pass the measure outright. It instead backed the proposal to expedite a second reading of the bill.

The measure foresees that temporarily, until the return of state control over the territories, remaining local budget funds in towns and settlements will be incorporated into Donetsk and Luhansk regional budgets.

Funds from the Donetsk regional budget will be used to repay the debt of Donetsk City Council on a loan from Ukreximbank, as well as to restore social and transportation infrastructure.

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