Kryvyi Rih will implement a sequester to its municipal budget and suspend a number of development projects due to a sharp drop in tax revenues from local industrial businesses.
Source: Oleksandr Vilkul, Head of Kryvyi Rih Defence Council, on Telegram
Details: According to Vilkul, ArcelorMittal Kryvyi Rih, the Inhulets and South mining and processing plants and the Kryvyi Rih iron ore plant are currently non-operational. Other major industrial companies in the city are operating at a maximum of one-quarter of their pre-war capacity.
Vilkul cited Russian attacks and ongoing logistics issues with export via seaports as the main reasons for the shutdown. Along with the industrial giants, numerous subcontractors have also ceased operations.
Due to the reduction in tax receipts, the city will suspend the implementation of several key projects in 2026. Meanwhile, authorities promise to maintain the operation of critical infrastructure.
Quote: "This is not about development. This is about survival. Right now, we need to survive."
Details: Vilkul described the budget forecast for Kryvyi Rih for 2027 as "very bad". The priorities will remain schools, kindergartens, hospitals and water and heat supply.
Background:
- ArcelorMittal suspended operations at ArcelorMittal Kryvyi Rih, Ukraine's largest steelmaking plant, after being targeted by four missile strikes in the space of five weeks.
- On 17 August, ArcelorMittal reported that key energy and blast furnace facilities had been damaged in a missile strike. Two people were killed and 13 injured and the production process was partially halted.
- Ukraine's Cabinet of Ministers postpones funding for non-critical construction, renovation, capital repairs and landscaping due to the difficult state finance situation and delays in international aid.
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Originally reported by Ukrainska Pravda by Artur Kryzhnyi. Read the full story at the source.
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