01 March 2017, Wednesday, 16:06 54

Cabinet Endorses Use Of 50% Of Customs Earnings Collected Beyond Plan To Finance Roads In Ukraine

The Cabinet of Ministers of Ukraine has endorsed the extension of the experiment on financing the highways against part of customs earnings in Ukraine from four regions and Kyiv to the whole territory of Ukraine.

The Cabinet of Ministers endorsed this decision at a sitting, Ukrainian News Agency reports.

The experiment envisages that 50% of customs earnings (except for the Energy Customs Office) exceeding the plan will be used to finance motor-roads in Ukraine

As Ukrainian News Agency earlier reported, the Ukravtodor state highway agency estimates that UAH 2.8 billion was raised for repairs of roads in 2015 and 2016 during the so-called "Customs Experiment" when 50% of sums exceeding monthly indicative plans of customs payments in regions is used for the roads in the regions.

In September 2015, the Verkhovna Rada allowed holding an experiment on financing of reconstruction, running repairs of general roads of state subordination at the expense of the customs payments.

The Ukrainian Parliament spread the force of the experiment for Kyiv, Odesa region, Volyn region, Lviv region, and Chernivtsi region.

According to the experiment, it is expected that 50% of the amount of excessive monthly indicative indicators of customs payments collected during customs clearance on the territories of Odesa, Volyn and Lviv regions will be channeled for special funds of regional budgets in order set by the Cabinet of Ministers.

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