According to the press service, following significant efforts at a technical level, the draft state budget and tax reform have been submitted to the parliament Dec. 11. IMF expressed concern about the debate that was held in the Ukrainian parliament yesterday that effectively amounted to a rejection of the government's proposal for a new tax code and budget for 2016.
"Approval of a budget consistent with the program objective of reducing the general government deficit to 3.7 percent of GDP is a key condition for the completion of the (IMF aid) program," David Lipton said.
"Approval of a budget that deviates from program objectives for 2016 and the medium-term will interrupt the program and inevitably disrupt the associated international financing," IMF's first deputy director said.
At the same time, the condition of carrying out structural reforms, supported by the draft state budget submitted by the Ministry of Finance is no less important.