The Minister of Finance of the USA has warned Kyiv about the risks of not taking the budget-2016

The Minister of Finance of the USA has warned Kyiv about the risks of not taking the budget-2016


The adoption of sustainable fiscal budget is crucial to maintain economic stability and further provide Ukraine with financial assistance from the IMF and other partners, said the head of the U.S. Treasury.

KYIV, 23 Dec. Ukraine must urgently comply with the terms of the IMF and to adopt the budget for next year, otherwise, Kiev risks with international assistance, said the Minister of Finance of the USA Jacob Lew.

According to the Ministry of Finance of Ukraine, the night before Prime Minister Arseniy Yatsenyuk discussed with the Minister of Finance of the USA the situation regarding the adoption of the draft budget for 2016 the Verkhovna Rada.

“Secretary Lew emphasized the urgency of Ukraine’s fulfillment of its obligations to the IMF and stressed the risks of undermining critical international support, if Happy will postpone this work until next year. Minister Liu said that the adoption of sustainable fiscal budget as soon as possible is crucial for maintaining economic stability and for future financial assistance from the IMF and other international partners of Ukraine”, — stated in the message of the Ministry of Finance on Wednesday in Facebook.

Earlier, the IMF, the main foreign creditor of Ukraine demanded from Kiev to continue the program of lending to take tax reform, which would allow to form the state budget for 2016 in accordance with the state’s obligations to the Fund.

Ukraine’s Parliament had planned last week to adopt in the first reading the project of the new tax reform and developed on the basis of the draft budget. However, the Cabinet proposed a package of documents has caused many objections within the ruling coalition, and representatives of small and medium-sized businesses.

As a result deputies have decided to create, with the participation of members of the government working group to finalize a compromise (budget) package. The Parliament of Ukraine expects to adopt the draft budget for 2016 on December 24-25.