On Tuesday, December 15, Finance Minister Natalie Jaresko presented
a package of bills, including the draft State Budget, amendments to the tax
legislation, those already submitted to the Verkhovna Rada of
Ukraine.
According to Natalie Jaresko, the proposed legislative changes are
aimed to reduce the tax burden in the economy, to provide financing of all top
priority needs of the state, to improve the efficiency and targeting of public
expenditures and quality of services for the citizens, and not to exceed a
target budget deficit 3.7% at that, having thus met the requirements to prolong
cooperation with the IMF in the framework of the Extended Fund Facility.
"Work on the drafting of this package of laws has lasted rather long –
after all we had to offer the society not a single bill, but a system-based,
well-balanced package of documents to ensure high-quality structural changes in
the estimated revenues and expenses of the budget. As a result, we agreed with
the Government and submitted to the Verkhovna Rada a package of
7 bills, which contain an updated draft budget for 2016, as well as a number of
crucial draft laws that determine the changes in revenue and expenditure
components of the budget", noted in her statement the Minister of Finance.
"I believe that the elaborated changes to the legislation will create
a stable basis for financial and economic stability. And thus we’ll return to a
path of real economic growth, investment flows and people’s lives
improvement", summed up Minister of Finance N. Jaresko.
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