President Zelensky signed a bill to limit changes to the state budget, which the IMF insisted on.
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Among other things, it provides:
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restoration of the provisions of Art. 52 of the Budget Code of the conditions for amending the law on the state budget, leaving only an unlimited right to review the spending of the security and defense sector under martial law;
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the need for a positive opinion of the Ministry of Finance to amend the law on the state budget;
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restoration from January 1, 2024 of medium-term budget planning (adoption of the Budget Declaration);
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restoration in the current year of the development of the Public Debt Management Strategy;
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it is stipulated that in 2023-2028 the maximum volume of state guarantees provided by the decisions of the Cabinet of Ministers cannot exceed 3% of the planned revenues of the general fund of the state budget, and the maximum volume of state guarantees provided on the basis of international agreements will be determined by the law on the state budget.
The Rada as a whole adopted this law on July 27. We are talking about ensuring the predictability of budgetary policy, balancing the budget and strengthening debt sustainability.
Source: Racurs
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.