Ukraine’s government is capping home heating rates

Friday, June 28, 2019
Ukraine’s government is capping home heating rates

Ukraine’s government is capping home heating rates, despite opposition from its finance minister who says it violates last December’s agreement with the International Monetary Fund. Last November, Ukraine raised rates by almost 25%. The rates approached market levels but contributed to President Poroshenko’s election defeat in the spring. While the government has not made public the new prices, European gas prices have dropped in half since their five-year highs last fall. Although Ukraine’s prices probably now are IMF compliant, Finance Minister Oksana Markarova said: “The Ministry of Finance cannot support a ruling which sets a tariff limit and contradicts … our international obligations.”

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