Hromadas should stop counting the funds that investor has to invest and start counting his potential profits.

Author: Dmytro Synyak

The reform of local self-government and territorial organisation of power as the country’s fundamental reform carried out on the principle of decentralisation, contributed to the fact that local budgets increased from UAH 68 billion in 2014 to over UAH 170 billion in 2017 (the data as of November 2017). In particular, the budgets of amalgamated hromadas have grown. In fact, they received the same powers and capacities to fill the budgets as the cities of regional importance. Direct interbudgetary relations have given hromadas the independence in formation and implementation of their budgets, and their development planning. Those hromadas established earlier in 2015 and 2016, have made a significant development progress – they have largely restored road and social infrastructure, gradually improving the spheres of education, healthcare, administrative services, housing and communal services. That means they will make up for everything that has not been done for years. It is important. However, economic development, implementation of initiatives that will create new jobs, build small and medium-sized business and create added value, are equally important to each hromada.

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