KIEV, July 5 – Over UAH 1 billion will be required for the holding of the next local elections, which are scheduled for Oct. 31, said Andriy Mahera, deputy chairman of the Central Election Commission.

"I do not want to frighten you, but these will be significant expenditures. These expenditures could total more than UAH 1 billion," he said at a press conference on Monday.

Mahera said that the old wording of a law on local elections was currently in effect, while its new wording was being prepared for second reading by parliamentary committees.