Date: 4 months ago   Category: Politics

There were requirements of the IMF to Ukraine about gas prices


Ukraine has to increase gas cost for the population by 15% till May, and by 2020 to make the price market. The program of the International Monetary Fund Stand By provides two indispensable conditions for Ukraine: maintaining budget deficit at the level of 2.3% of GDP and also increase in prices for gas to market level. It is said in the report of the Fund published on Tuesday, January 8. The IMF assumes that the Cabinet of Ministers will increase the retail cost of gas for the population by 15% till May 1. The following stage – full compliance of the prices market since January 1, 2020. Also experts of the IMF expect that thanks to pension reform the deficiency of the Pension fund will decrease up to 4.25% of GDP, and the amount of pensions will increase a minimum by 8.5-9.5%. At the same time, in Fund emphasized importance of pension reform for Ukraine through unfortunate demographic trends, considering low birth rate and aging of the population and also trip abroad of the increasing number of workers. Further experts of the IMF expect that Ukraine will manage to reduce deficiency of the Pension fund to 3% of GDP. At the same time, in the IMF noted high risks of implementation of the program because of not resolved conflict on Donbass and the unstable external environment. Besides, the program is under the threat in connection with risk of implementation of populist policy before the upcoming elections or shift. These risks are softened with resolute actions, including the approval of the budget for 2019, and considerable external financing for support of reforms, including new financing from the World Bank and the European Union, added to the IMF. Also in the IMF called terms of a peresomotr of program execution following the results of which decisions on allocation of two trenches for 2.6 billion dollars will be made. Let's remind, on December 18 the board of directors of the IMF approved the new program of financing for Ukraine for 3.9 billion dollars. Kiev received the first tranche in 1.4 billion dollars in three days. It is known that the IMF agreed to the new program for Ukraine after the authorities raised gas prices by 23.5%. According to media, the IMF demands to raise gas prices by 40%. News from the Correspondent.netv of Telegram. Subscribe for our https://t.me/korrespondentnet channel

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