15:04 19.11.2015

Govt to submit draft tax reform, 2016 national budget to Rada by Dec

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Govt to submit draft tax reform, 2016 national budget to Rada by Dec

The Cabinet of Ministers is preparing a balanced draft national budget for 2016 which will be submitted to the Verkhovna Rada jointly with the draft tax reform before December 2015 after consultations with the mission of the International Monetary Fund (IMF), Head of the Ukrainian Presidential Administration Borys Lozhkin said after a meeting with the IMF mission on Thursday.

"The draft tax reform drawn up by the Finance Ministry, which is aimed at stimulating the Ukrainian economy, will be submitted to the Verkhovna Rada jointly with the draft national budget by December. A compromise between the Finance Ministry and the parliamentary committee for tax policy is to be found," he wrote on his Facebook page.

Lozhkin said that the international expert group that has drawn up recommendations for fiscal consolidation has been created at the Presidential Administration.

"These are decisive and effective steps that are to expand the IMF's recommendations and they would allow laying the stable foundation for economic growth next year," he said.

He said that in the near future the plan of the expert group will be presented to the National Reforms Council.

Lozhkin said that the implementation of KPI reforms under the IMF's program and fighting corruption were discussed at the meeting.

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