Provide for repayment of local debt at the expense of subventions from the state budget. Its size increased
In Ukraine, where in 2020 year will be 25 thousand km of roads, regional councils received the right to make local domestic borrowings under state guarantees for the construction, repair and maintenance of roads. For this decision voted by the Parliament by adopting a law “On amendments to the Budget code”.
The document establishes the right of regional councils to make local domestic borrowings under state guarantees for the construction, reconstruction, repair and maintenance of public roads of local importance, streets and roads of communal property in settlements.
This provides for the possibility of repayment of local debt at the expense of subventions from the state budget for financial support for the construction and repair of local roads, streets, and roads of communal property in settlements. The amount of funds for such grants, which can be directed on repayment of debts, increased from 10% to 30%.
