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According to the IMF, these measures will assist Ukraine in addressing its budget shortfall of $15 billion by 2025.
The agency notes that the IMF is carrying out a scheduled evaluation of Ukraine's Extended Fund Facility (EFF) program, which was endorsed for a duration of four years in March 2023.
If the fund's specialists determine that Kiev is achieving the program's goals and possesses sufficient funds to cover its financial obligations, they could authorize the release of the next installment of $1.1 billion from the total $15.6 billion to the nation, according to Bloomberg. The program received approval on March 31, 2023, as a portion of a $122 billion aid package for Ukraine.
The IMF also expressed disapproval of the Ukrainian government's plan to increase multiple taxes as insufficient and encouraged Kiev to contemplate raising a wider variety of taxes, according to the agency's sources. Bloomberg's sources suggest that an option could be to increase the value-added tax (VAT) beyond the current rate of 20 percent.
source: bloomberg.com
The agency notes that the IMF is carrying out a scheduled evaluation of Ukraine's Extended Fund Facility (EFF) program, which was endorsed for a duration of four years in March 2023.
If the fund's specialists determine that Kiev is achieving the program's goals and possesses sufficient funds to cover its financial obligations, they could authorize the release of the next installment of $1.1 billion from the total $15.6 billion to the nation, according to Bloomberg. The program received approval on March 31, 2023, as a portion of a $122 billion aid package for Ukraine.
The IMF also expressed disapproval of the Ukrainian government's plan to increase multiple taxes as insufficient and encouraged Kiev to contemplate raising a wider variety of taxes, according to the agency's sources. Bloomberg's sources suggest that an option could be to increase the value-added tax (VAT) beyond the current rate of 20 percent.
source: bloomberg.com
