Today, on September 23, the regional budget estimate has been approved at the regular session of Kharkiv Regional Council. The project had been developed by Kharkiv Regional State Administration.

Tetiana Yehorova-Lutsenko, Chairman of Kharkiv Regional Council, stated, “This year for the first time Ukraine takes long-term budget planning. Kharkiv Regional Council was one of the first in Ukraine to approve the decision. Such approach enables to plan economic and social development of the region an effective way.”

The purpose of the budget estimate is to create an effective mechanism for managing budget process in the region, to make connections between strategic goals of regional development and budget capacities in the medium term. In addition, it can ensure transparency, predictability and consistency of fiscal policy.

According to the document, the total amount of regional budget is planned as follows: the amount of 6.1 billion hryvnias for 2022, the amount of 6.48 billion hryvnias for 2023, the amount of 6.75 billion hryvnias for 2024.

The GDP growth rate is expected to grow by 3.8% in 2022, by 4.7% in 2023, by 5% in 2024.

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