Ukrainian Vice PM: Local budgets already have resources for infrastructure and social projects

This was stated by Ukrainian Vice Prime Minister, Minister for Regional Development, Construction, Housing and Utility Economy Hennadiy Zubko at the meeting with members of the European Business Association, Government portal reports.

"Decentralization is the impetus for development of small and medium-sized businesses in the regions. Today, the local budget gives UAH 77 billion in revenues since January 1, 2016. The funds are left in the regions due to the expanded tax basis. This gives the resources for development of the infrastructure and social projects," the statement reads.

According to Zubko, the growth of incomes of local budgets amounted to 45% from 2015 to 2016. "We obtained this figure due to the increased tax basis. The leaders of local government realized that by collecting fair taxes they promote development of small and medium-sized businesses and generally give impetus to the development of territories," the Vice Prime Minister said.

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