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July 8, 2010

The Verkhovna Rada adopted the law 'On Making Amendments to the Budget Code of Ukraine.” The document was supported by 245 MPs.

 

In particular, norms are amended in the new wording the Budget Code as regards making, consideration and adoption of the state and local budgets, budget funds management, formation of local budgets and a system of inter-budgetary relations, a system of the state financial control, responsibility of participants in the budgetary process, as well as in the part of the Verkhovna Rada authorities in the budgetary process.

 

The Code's new wording envisages a program-target method of budget planning, including at the level of local budgets. At the same time, an amendment was withdrawn that envisaged granting a right to the Cabinet or local power authorities to make amendments to the law on social standards.

 

The Parliament took a decision to submit for signature to the President separately the Budget Code and the law on making amendments to a number of legislative acts (in total, 26 laws, including Civil, Water, Land and Economic Codes, Code on Administrative Violations, etc. ).


 
 
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