• 27/02/2024 18:46

The IMF is focused on supporting the work of the Ukrainian state and its social obligations, and not on the military sphere

The International Monetary Fund is focused on supporting the functioning of the Ukrainian state and its social obligations, rather than the military sphere. This was announced by the director of the IMF's European Department, Alfred Kammer, in an interview with the Voice of America.

The IMF is focused on supporting the work of the Ukrainian state and its social obligations, and not on the military sphere

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“We expect Ukraine to generate domestic revenues,” he said in response to a question about whether international donors are ready to increase aid to our country if budget costs increase due to the war.

“I always emphasize very clearly – we expect internal revenue to be generated. Strengthening the economy, structural reforms that support economic activity, better governance will provide additional tax revenues,” Kemmer said.

He emphasized that donors are focusing their economic support specifically on the social component of the budget and the functioning of the government.

“We support and monitor the budget as a whole, and not individual expenses. Both we and donors help the Ukrainian government perform basic functions during war, such as protecting vulnerable populations, paying wages, pensions, paying for education, and the like. This is exactly what the 122 billion financing program is aimed at,” explained the IMF representative.

To help Ukraine generate additional revenues, better management, in particular the National Revenue Strategy, which was approved by the Cabinet of Ministers on December 28 to fulfill the terms of the program Fund, Kemmer noted.

According to him, the strategy will “get more revenue into the budget and support spending needs during this time.” It is also important to build a modern state, and a modern state needs investment.

“The private sector in Ukraine needs to create an environment that will allow it to receive tax revenues and finance expenses,” said the director of the IMF’s European Department. .

minfin.com.ua

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