IMF urges Ukraine to reform taxes, align legislation with EU
To achieve fiscal stability and economic growth, Ukraine must focus on reforming its tax and customs systems, tackling tax evasion, and harmonizing legislation with European Union standards, IMF Communications Director Julie Kozack said on July 3, according to news agency Ukrinform.
“Restoring fiscal sustainability in Ukraine requires sustained and decisive efforts within the implementation of the National Revenue Strategy,” she said.
This strategy includes modernizing the tax and customs systems, including the timely appointment of a customs service head, reducing tax evasion, and aligning legislation with EU standards.
“The goal of this reform package is that these reforms, combined with improvements in public investment management systems, medium-term budgeting, and fiscal risk management, will be critical for supporting Ukraine’s economic growth and attracting investment in the medium term,” Kozack stated.
Commenting on Ukraine’s debt, the IMF official said the country has maintained macroeconomic stability despite challenging circumstances and IMF program conditions. However, risks remain high due to the ongoing war, making it essential for Ukraine to “sustain reform momentum.”
She also emphasized the need to mobilize domestic revenues to restore debt sustainability in the medium term.
“It is also important that Ukraine completes the remaining elements of debt restructuring in line with the program’s objectives,” Kozack added.
As previously reported, Ukraine received a ninth IMF tranche of $500 million.
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