The Cabinet has prohibited to place funds of local budgets on Deposit

Кабмин запретил размещать средства местных бюджетов на депозитах

The Cabinet of Ministers of Ukraine by the end of 2019 forbade local councils to place on Deposit temporarily free funds of the General Fund.

About it reports RBC-Ukraine.

The explanatory Memorandum States that this resolution was prepared to settle the budget processes in local governments. Also, the government noted that the funds which are credited to the General Fund of local budgets that are inefficient, accumulate and do not take part in the budget process.

In this regard, the Cabinet of Ministers until the end of 2019 forbidden to place temporarily available funds of the General Fund of local budgets on Deposit accounts in banks.

We will remind, earlier it was reported that over the last year, local budgets received 230,5 billion.

We will note, last week the Cabinet of Ministers prepared the first changes to the state budget-2019. In particular, changes are proposed to Finance the consolidated territorial communities in which the elections were not held.