Jaresko: IMF mission’s visit to Ukraine is delayed

Jaresko: IMF mission’s visit to Ukraine is delayed

While also unknown the date of submission of the final version of the budget for 2016 in the Verkhovna Rada, said Finance Minister Natalie Jaresko.

KYIV, 9 Nov. Date of arrival to Ukraine of the assessment mission of the IMF is a key creditor of the country — has not been determined, because the Fund is waiting for the draft state budget for 2016 and its article-by-article analysis, told reporters on Monday the Minister of Finance Natalia Yaresko.

Jaresko had previously stated that the mission comes two weeks after local elections, which took place on 25 October. Last Friday, the head of representation of IMF in Ukraine Jerome Vacher stated that the date of arrival of the mission until not defined.

“Dates (arrival of the mission — ed.) don’t have”, — quotes the words Jaresko Ukrainian news Agency UNIAN.

However, she stressed that due to the need to harmonize with the Foundation of the draft budget for 2016 is still unknown and the date of submission of the final budget to the Verkhovna Rada.

“We will submit a budget as soon as it is agreed with the IMF. We have to work with them (with the IMF — ed.) on each article, for each billion, while we have not so many articles that can be reduced”, — stressed the Minister.

The Cabinet of Ministers of Ukraine plans to adopt the state budget for 2016 on the basis of the new tax system. At the moment there are two options of tax reform — from the government and from members. Each of these options provides for a reduction in the expenditure side of the budget draft of the Ministry of Finance by 60 billion UAH, Deputy — 200 billion.

Thus, according to the agreements with the IMF under the extended financing program, Kiev should reduce the state budget next year, with a deficit of no more than 3.7% of GDP. Jaresko previously stated the need for discussion, which articles in the state budget will be reduced on funding.

According to her, the Foundation budget should be a new tax conversion. In this regard, as the Minister of Finance, government listens to business, and experts in the hope of finding a compromise between the “zero tax rates and what we have today.”