Editor’s note: This is issue 81 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from Nov. 4-10, 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.
Benchmarks and soft commitments in the memorandum with the IMF
The 2025 state budget could be at risk as draft law on tax increase still hasn’t come into force.
Last week the Cabinet of Ministers submitted draft law #12000 on the 2025 State Budget for the second reading. It has to be adopted in the second reading by Nov. 20. The revised text includes Hr 120 billion ($2.9 billion) in expenses which are expected to be covered by tax increase. However, the draft law on a tax increase still hasn’t been signed by President Volodymyr Zelensky. It creates certain risks that the Cabinet will be forced to cut military expenses, raise internal borrowings or look for other sources to cover this budget gap.
The Verkhovna Rada, Ukraine’s Parliament, will consider the draft law on the 2025 State Budget in the second reading next week.
Kateryna Hodunova
Obligations to the EU
Ukraine ensured an opportunity meeting one of Ukraine Facility requirements.
The mandate of the Public Council of International Experts which will check candidates to the High Anti-Corruption Court (HACC) has been prolonged. The president signed the relevant draft law to ensure an opportunity to finish the ongoing selection process of new HACC judges. The latter is among obligations of the Ukraine Plane for the 1st quarter 2025.
Meetings of the parliament are scheduled for next week.
The next meetings of the Verkhovna Rada are scheduled for Nov. 19-22. Among other issues, the parliament will consider draft law #12131 on resuming monitoring and reporting of greenhouse gas emissions in the first reading.
The Kyiv Independent news desk
Other key economic issues
Resignation of the Ukrenergo supervisory board results in technical default of the SOE.
Ukrenergo suspended eurobond payments for $825 million as the planned debt restructuring hasn’t been completed yet. The company can’t complete the restructuring process until a new supervisory board is formed. This step is required as two independent members of the previous supervisory board resigned due to disagreement with the dismissal of Ukrenergo ex-Head, calling this decision a political one.
Kateryna Hodunova
