Rada adopts law on control over funds to support Ukraine

The Verkhovna Rada of Ukraine has adopted a bill that amends the Budget Code of Ukraine regarding the use of funds from accounts to support Ukraine.

The document provides for monthly reporting on the receipt and use of funds for each of the accounts opened with the NBU. Control over their use in accordance with budget legislation.

It also provides for the distribution and spending of such funds according to clear budget rules within the budget programs of the special fund of the state budget.

The bill requires the amounts of voluntary contributions received and the list of purchased goods and services to be published on the official websites of the main spending units.

„The draft law adopted by the Verkhovna Rada of Ukraine allows for a more coordinated and accountable use of voluntary contributions from individuals and legal entities accumulated on the accounts of individual ministries with the NBU. This step is also very important for our international partners. As evidenced by its inclusion in the new program of cooperation with the International Monetary Fund,” said The First Deputy Minister of Finance of Ukraine, Denys Uliutin.

He emphasized that accountability, transparency, and efficiency in the use of funds to support Ukraine are important guarantees of their further flow from official donors, businesses, charitable organizations, and citizens.

As Ukrinform reported, in March 2023, the Verkhovna Rada of Ukraine passed the law. That provides for an increase in state budget expenditures by UAH 537.2 billion, with 96.5% allocated to the national security and defense sector.

Source: ukrinform.net