In accordance with the Article 77 of the Budget Code of Ukraine, the Kharkiv city budget for the next year must be adopted before December 25th 2015, as the press service of Kharkiv City Council reported.
The basis of the revenue side of the budget consists of treasury revenues 2015, intergovernmental transfers, educational and medical subventions, and governmental donations.
The expenditure budget part includes the consumer price index of 112%, the minimum wage increase by 12.5%, the change of living wage of the main social and demographic groups. The budget draft of the city also takes into account an increase of the energy and utility services tariffs for budgetary institutions.
In particular, the budget project includes 5 programs of easy-term loan for real estate purchase, expenses related to the opening of additional 99 classes in schools and 20 groups in preschools, and one kindergarten in Kyiv’skyi District. It also covers the funding increase of pre-schoolers’ nutrition from 15 to 17 UAH per day.
“Thus, the city budget revenues were planned in the amount of 6 billion 238.2 million UAH, plus 2.5 billion UAH of the government grant. In fact, the budget revenues 2016 will be much greater than in 2015 year” the Head of the Department of Budget and Finance, Tatiana Taukesheva, stated.
Now Ukraine is considering amendments to the Tax Code. If this happens, the Kharkiv budget revenues will decrease by 600 million UAH.