The new $15.6B  IMF program contains 10 fiscal and 4 anti-corruption structural benchmarks.

Tuesday, April 4, 2023
The new $15.6B  IMF program contains 10 fiscal and 4 anti-corruption structural benchmarks.

More than half of the required tasks are related to taxation, and others are devoted to the fight against corruption.

  1. The nearest fiscal beacon is a law taking effect by May to increase state budget expenditures by UAH 537B.
  2. By June, two draft laws strengthening the Budget Code must be submitted to the Council and in order to adopt amendments to the code regarding donations accumulated in special National Bank
  3. The cancelation of the 2% single tax and other benefits for entrepreneurs on July 1.
  4. The Mid-Term Debt Management Strategy must be updated and published by October and enacted by the end of the year
  5. To adopt the National Revenue Strategy and review current state investment management procedures.
  6. Legislation on financial monitoring and the fight against money laundering must be changed by October.
  7. Also, five beacons concern the NBU and the financial and banking system. By July, it is planned to have prepared a transition strategy to a more flexible currency exchange rate, simplification of currency control, and inflation targeting depending on economic conditions, etc.

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