Zelensky signs new rules for financing road construction

Zelensky signs new rules for financing road construction

Ukrinform
Ukrainian President Volodymyr Zelensky has signed a law introducing amendments to the law on the sources of financing Ukraine's road industry, according to the website of the head of state.

"President of Ukraine Volodymyr Zelensky has signed a law on the introduction of amendments to Law of Ukraine No. 282-IX on the sources of financing Ukraine's road industry regarding the introduction of medium-term planning for the development and maintenance of public roads, which the Verkhovna Rada of Ukraine approved on November 12, 2019," the statement reads.

The document revokes the agreement with the Verkhovna Rada budget committee of the lists of facilities of construction, reconstruction, major and current medium repairs of roads.

Instead, according to the law, the Cabinet of Ministers approves the state targeted economic program for the development of public roads of national importance for the relevant period with a list of roads on which construction, reconstruction, major and current repair works are planned, indicating the volume and sources of the financing of such roads. The list of facilities of construction, reconstruction and repair of roads, compiled in accordance with this program, is approved by the Cabinet of Ministers annually.

The document also provides for a subsidy from Ukraine's state budget to local budgets for financing, inter alia, design, research works, the functioning of information and analytical systems, the certification of technical supervision, the inspection of the condition of roads, in particular, the involvement of a consulting engineer.

The head of state also signed a law on amendments to the Budget Code of Ukraine regarding the introduction of medium-term planning for the development and maintenance of roads.

The document introduces into the Budget Code the concept of medium-term obligations under standard contracts for the construction, reconstruction, repair and maintenance of roads.

According to the law, under budget programs that are being implemented using the funds of the State Road Fund, the managers of budget funds have the right to make budget commitments in excess of actual revenues of the special fund within the limits of expenditures stipulated by the law on Ukraine's state budget and the projected indicators determined in the mid-term budget declaration.

These laws introduce new approaches to medium-term planning for the construction, reconstruction, repair and maintenance of public roads of national and local importance, expanding the ability of regions to use territorial road funds and subsidies from the state budget.

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