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 NewsRSSIMF to verify 2016 national budget adopted by Ukraine
25 of December 2015 г.
Ukraine's major creditor, the International Monetary Fund (IMF), will verify the national budget for 2016 adopted by the Verkhovna Rada, along with amendments made to the tax legislation and over 600 proposals regarding the main financial document of the country, Finance Minister Natalie Jaresko wrote on Facebook.
"The Verkhovna Rada of Ukraine passed a bill on the national budget for 2016! It was a difficult and long process with a lot of amendments and changes from MPs. They have submitted more than 600 proposals affecting the budget resource base," Jaresko wrote, adding that for her, as finance minister, the fact that the document has been adopted, as well as its quality and essence, were important. The ministry's calculations are based on the systemic reforms that will ensure stability, Jaresko noted. According to the minister, one of the key elements of this stability is the IMF support. The disbursement of the next IMF tranche and other related financial support depends on whether the amended budget will still conform to the principles and objectives of the IMF program, that is whether it remains balanced, the minister noted. The IMF experts will specifically analyze the compliance of the adopted laws with the principles and objectives of the IMF Extended Fund Facility program, according to the report.
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