There’s Not Enough Money for Everything: Mykolaiv’s Budget Forecast Fails to Pass Twice

Deputies of the Mykolaiv City Council voted twice at the October 29 session on the community budget forecast for 2027–2029, but the motion did not pass.

The document was presented by Vira Sviatlyk, director of the City Council’s Finance Department. According to her, the calculations showed that the Mykolaiv City Territorial Community does not have enough funds to meet all its needs.

Taxes remain the main source of budget revenue, particularly personal income tax (PIT). The forecast sets out the following annual revenue figures, excluding intergovernmental transfers:

• 2027 — UAH 5.66 billion, including UAH 3.45 billion in PIT revenue;
• 2028 — UAH 6.26 billion, including UAH 3.89 billion in PIT revenue;
• 2029 — UAH 6.87 billion, including UAH 4.37 billion in PIT revenue.

Thus, annual revenue is expected to grow by approximately UAH 1.2 billion between the first and final years of the forecast period.

At the same time, the document notes that budget forecasting is difficult due to uncertainty surrounding the security situation, international financial assistance, migration patterns, and other factors affecting the economy.

We previously reported:

• Mykolaiv asks the state for UAH 819.1 million to meet the community’s urgent needs
• Mykolaiv’s budget may be increased by UAH 783 million: where the money will come from
• “Survival budget”: Mykolaiv approves its 2026 budget with a UAH 1 billion deficit and controversies over bonuses
• Mykolaiv’s population has fallen by 75,000: the budget forecast points to a demographic crisis and industrial growth
• Sienkevych complains of a shortage of funds in Mykolaiv and calls on the government to restore “military” PIT