EFF of IMF foresees upper deficit of administrative sector at 4.6% of GDP, says finance minister

15:01, 12.02.2015 1 min read

The Extended Fund Facility (EFF) Arrangement, agreed by the Ukrainian authorities and the Mission of the International Monetary Fund (IMF), foresees the upper deficit of the administrative sector at 4.6% of GDP, which will support poor people while energy tariffs are being increased, Finance Minister Natalie Jaresko has said.

"The fiscal policy is the key condition of success of economic reforms. We're tuned to make several ambitious steps in this direction: we will revise the budget deficit, so that the deficit of the administrative sector was 4.6% of GDP," she said at a press conference in Kyiv on Thursday.

Jaresko thanked the IMF for understanding that the support of the population in the hard times when energy tariffs are increased is required.

She said that the government will continue reducing administrative expenses and cutting special pensions to ensure fair payments in the pension sector.