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Arseniy Yatsenyuk urges to adopt a budget compliant with the criteria jointly determined with the IMF by the end of year
18.12.2015 | 16:40
INFORMATION AND COMMUNICATION DEPARTMENT OF THE SECRETARIAT OF THE CMU

http://www.kmu.gov.ua/img/1x1.gif"Ukraine should enter a new year with a budget that meets the criteria determined in collaboration with the International Monetary Fund as a condition for Ukraine to remain in the IMF program. This is the key requirement", stressed Prime Minister of Ukraine Arseniy Yatsenyuk at the CMU session on Friday, December 18.

Arseniy Yatsenyuk reminded that on 17 December, under the norm of the Budget Code of Ukraine, the Cabinet of Ministers of Ukraine and personally Minister of Finance had presented the draft budget for 2016 in the Parliament of Ukraine.

"Pursuant to the norm of the Budget Code, unless the Parliament rejected the relevant draft budget and returned it to the Government of Ukraine, it means that we have entered a stage of formation of 2016 state budget. This means that the Parliament accepted the budget for 2016", he stressed.

The Prime Minister informed that the previous day the Government had had "rather long discussions” with members of Parliament on the draft budget and the draft Tax Code. He expressed hope that the established within the walls of the Verkhovna Rada of Ukraine working group with the participation of the Prime Minister, Minister of Finance, Chairman of the Parliament, members of parliamentary committees and members of factions "will elaborate a joint well-balanced law of Ukraine on the state budget for the next year, and will elaborate draft amendments to the tax legislation".

"I hope by Thursday we will find mutual understanding", stressed the Head of Government.

He noted that over the last decade the budget process had always followed a standard procedure – "the opposition always criticizes": "Last year there was a rather serious controversy in the Parliament about the draft budget. But as a result, the bill was passed, revenues of local budgets increased by 40%, state budget revenues also rose by almost 40%, all social standards were covered, no copeck of debt either on salaries, or on pensions, or on spending, what is crucial, on national security and defence, they were all paid."

"Therefore, the same way, avoiding extra politicization we will pass this budget process. And Ukraine must enter a new year with the budget that meets the criteria determined in collaboration with the International Monetary Fund as a condition for Ukraine to remain in the IMF program. I emphasize it is a key condition and requirement", urged Arseniy Yatsenyuk.

The work with the International Monetary Fund, according to him "is not just an additional financial cushion to increase foreign exchange reserves": "Our work with the International Monetary Fund is the main criterion of conformity of Ukraine with the indicators of reforms that are necessary for foreign investors and western partners. This is the real mark whether the reforms are implemented."

"Two tranches of the International Monetary Fund have been received by Ukraine. And they were granted only because all those plans on reforms, which were fixed in the Action Programme for the Cabinet of Ministers of Ukraine and our joint program with the IMF, were being executed. Consequently, we should follow this way", stressed the Head of Government.

"I hope the members of the parliamentary coalition have an understanding of how important it is to adopt both a well-balanced and relevant state budget and a tax reform", said Arseniy Yatsenyuk.

 

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