The first tranche of $1.5 billion from the IMF is already in Ukraine — without tax increases for sole proprietors: economist
10 March 12:55
Ukraine has already received the first tranche of $1.5 billion from the International Monetary Fund under the new financing program, and this happened without raising taxes for sole proprietors or other new tax changes. This was stated in an interview with the YouTube channel "Komersant Ukrainian" by Andriy Novak, chairman of the Committee of Economists of Ukraine.
“The fact is that Ukraine has already received the first tranche — $1.5 billion from the IMF. Without raising taxes for sole proprietors. Without raising anything under the new program that the IMF has adopted for Ukraine for a total of $8.1 billion. We have already received $1.5 billion,” Novak said.
Watch us on YouTube: important topics – without censorship
He emphasized that there is often a lot of political and media discussion surrounding cooperation with the IMF, but it is important to evaluate the actual results rather than the negotiation process.
“There are facts about the actions taken. Political decisions have been made, the legal aspects of these decisions have been approved, and the money from the IMF has been received — we have received the first tranche,” the economist said.
Novak also explained that the International Monetary Fund’s demands focus not on specific taxes, but on the overall state of public finances.
“The International Monetary Fund is a financial institution that looks at only one thing — Ukraine’s budget deficit. Nothing else. If the deficit is too risky, the IMF tells the country’s government: do something about this deficit — increase revenues or reduce expenditures,” he explained.
According to the economist, in the context of war, international partners understand that Ukraine’s budget deficit has grown significantly due to large defense expenditures, so the approach to Ukraine is now more flexible.
“We are currently at war. Half of the budget goes to defense. Everyone understands this perfectly well, and the IMF understands it first and foremost. Therefore, in the current war conditions, there are no requirements for us, as in peacetime, even regarding this budget deficit,” Novak emphasized.
It should be noted that on February 26, the Executive Board of the International Monetary Fund approved a new four-year Extended Fund Facility (EFF) program for Ukraine. It provides for financing in the amount of $8.1 billion for the needs of Ukraine’s state budget.
The new program is designed for 2026–2029 and takes into account the updated macroeconomic and security conditions in which the state finds itself.
After the start of the full-scale war, the Ukrainian budget suffered a significant deficit due to a sharp increase in defense and security spending. Therefore, international partners, including the IMF, the European Union, and the World Bank, are providing financial support to help the government ensure social payments, salaries for public sector employees, and the stability of the financial system.
At the same time, cooperation with the IMF is traditionally accompanied by discussions about possible tax changes, tariff policy, and budgetary discipline. That is why the question of whether the new program will increase taxes for entrepreneurs, particularly sole proprietors, is often the subject of public and political debate.
Read us on Telegram: important topics – without censorship
