The Extended Fund Facility (EFF), agreed by the Ukrainian authorities with the Mission of the International Monetary Fund (IMF), foresees the gradual adjustment of gas and heating prices for households to reach full cost recovery by April 2017, the first phase of which is to start urgently.

"As part of this strategy, and to rehabilitate Naftogaz while eliminating its drain on the budget, the authorities have decided to implement frontloaded gas and heating price adjustments aiming to reach full cost recovery by April 2017, while protecting the poor through revamping social protection schemes and allocating sufficient budgetary resources," reads an IMF press release issued on Thursday.