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Ukraine Parliament Advances Economic Reforms, Meets International Obligations – Issue 60

Ukraine Parliament Advances Economic Reforms, Meets International Obligations – Issue 60

Editor’s note: This is issue 59 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from June 10–June 16, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs.

The Kyiv Independent is republishing with permission.

The IMF benchmarks in focus

The Tax Committee finalized the preliminary text of the draft law on restarting the Bureau of Economic Security for the second reading, but it hasn’t been considered or included in the agenda of the plenary week yet.

The Committee on Finance, Tax and Customs Policy has prepared the final version of draft law #10439 on the relaunch of the Bureau of Economic Security for the second reading. The last plenary meetings this month are scheduled for June 18-21. Deadline for adoption of the draft law on restarting the bureau is set for the end of June.

Ukraine needs $9.5 billion for rapid recovery this year, namely in defense, energy, housing, agriculture, natural resources, and the IT sector, the Finance Ministry said on June 20.

Zykova

As for the preliminary text prepared by the Tax Committee, it raises concerns about transparency and independence in staff selection processes.

Obligations to the EU

The Cabinet of Ministers submitted a draft law allowing individuals involved in corruption crimes to redeem themselves from severe punishment, the Anti-Corruption Action Center (AntAC) says.

EU states won’t be directly involved in $50 billion loan for Ukraine, Italian PM says.

The draft law raises concerns about allowing those accused of corruption to redeem themselves without revealing relevant information, potentially benefiting corrupt organizers.

Other key economic issues

The Parliament will consider draft laws on establishing a bank of development.

The Verkhovna Rada of Ukraine will consider draft laws on establishing the National Development Agency and tax administration incentives for businesses. Appointments for vacant positions in the Cabinet of Ministers are also expected.

G7 loan from Russian assets not ‘substitute for full confiscation,’ experts say.

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