The IMF encourages Ukraine to make profound tax changes but not to raise rates.

IMF experts unveiled their proposals for reducing Ukraine’s national debt as part of their recommendations.

The IMF’s Deputy Director of the Fiscal Affairs department, , noted that their recommendations include a two-fold increase in efforts to mobilize revenue to the state budget from domestic sources, completing the restructuring of commercial debt within the terms determined by the commitments, and accelerating the implementation of the National Revenue Strategy. She pointed out that the strategy is aimed at more effective revenue mobilization and a fundamental change in the tax system. It is about reducing tax evasion and increasing fairness and equality.

“It’s not about raising rates. It’s about expanding the base and creating the most fair and equal tax systems,” the official explained.

Recently, the IMF published the Global Report on Financial Stability, according to which Ukraine’s state and state-guaranteed debt is forecast at 95.6% of GDP in 2024 and 106.6%, 107.6%, and 102.6% in the next three years.