"Due to the vigorous efforts, the
Government has managed to stabilize the economic and financial situation in
Ukraine and to obtain non-monetary sources to accelerate an increase of social
payments", stressed Minister of Finance of Ukraine Natalie Jaresko at
a briefing at the Government House, commenting on the declared by the Prime
Minister Government’s decision to submit to the Parliament a bill on increase
of the social standards since September 1, instead of December 1 as had been
previously planned.
According to her, improvement of social
protection will affect 12 million Ukrainian citizens.
The Finance Minister noted that according to the
recent data, there has been fixed reduction an inflation rate, slowing down of
the economic slump, preserving stable exchange rate during six months,
increasing the reserves of the National Bank and more optimistic indicators of
implementation of the state and local budgets than expected. In addition, for
the first time in last few years, the Government manages to fully and timely
finance all planned public expenditures. She also assessed the successful
cooperation with the IMF, which resulted into granting financial assistance to
our country worth US $ 17.5 billion, of which the sum worth US $ 6.7 billion
has already been received.
Natalie Jaresko stressed that the
Government had pursued an austerity policy: "the Government is very
economical and Thrifty in their spending and led an active fight against fraud
in the tax area". According to her, the introduction of an electronic
system of VAT administration in July has entailed reduction of fraud cases and
additional revenues to the state budget worth UAH 2 billion.
Natalie Jaresko stressed that the
Government had been pursuing an austerity policy: “The Government has been
rather practical and thrifty in their spending and led an active fight against
fraud in the tax area". According to her, the introduction of an
electronic system of VAT administration in July has entailed the reduction of
fraud cases and additional UAH 2 billion revenues to the budget.
In addition, according to the Minister, a
landmark agreement with commercial creditors to restructure sovereign and
sovereign guaranteed Eurobonds was reached, thus providing an opportunity to
save US $ 8 billion or up to UAH 80 billion during the years to come.
"An additional resource, which the
Government could get due to its conservative policy throughout the year, will
be spent by us to accelerate payment of social benefits", stressed Natalie Jaresko.
At this, the Minister of Social Policy of
Ukraine Pavlo Rozenko informed that on average all social standards
in Ukraine would grow by about 13%.
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