In 2017, the efficiency of funds’ usage by local government increased, and the amount of unused local funds declined. This conclusion gives us a comparison of the growth indicators of local budgets and balances on treasury accounts of local budgets by the results of the year, informed Hennadii Zubko, Vice Prime Minister – Minister of Regional Development, Construction, Housing and Communal Services.

“In 2017, the local budget revenues amounted to UAH 192 billion and increased by UAH 45.4 billion, that is 31% more compared to 2016. Financial decentralisation increases local budgets every year. Thus, in 2014 they amounted to UAH 70.2 billion, in 2015 – to UAH 99.8 billion, in 2016 – to UAH 146.6 billion, and in 2017 – to already UAH 192 billion,” he wrote.

The growth of local budgets influences the annual increase of the balances on treasury accounts of local self-government. Thus, as of 1 January 2015 they made up UAH 24 billion, as of 1 January 2016 – UAH 35.2 billion, and as of 1 January 2017 – UAH 47.7 billion. As of 1 January 2018, the balances amounted to UAH 53.9 billion. Therefore, it means that the amount of funds not used from local budgets remains high enough.

“Having received the powers and resources, the local self-government should increasingly focus on the implementation of quality projects in its hromadas, learn financial discipline, that is to value the resource and use it effectively in the interests of hromadas, and therefore, take responsibility. This is the main result of decentralisation,” said Hennadii Zubko.