News

The Law “On Amending Section VI ‘Final and Transitional Provisions’ of the Budget Code of Ukraine Regarding Implementation of Medium-Term Budget Planning” will come into force on 20 April 2017. The Law transfers the deadline for submission by the Ministry of Finance of the Main Directions of Budget Policy from 1 April to 1 June 2017 for this once instance.

The Law will make it possible to switch to medium-term budget planning already this year, i.e., to prepare the budget and forecasts for the next three years at once.

The main impact from adoption of the Law is that the use of the most relevant macroeconomic indicators would allow making more accurate forecasts for the two years subsequent to the planning year as well.