The President of Ukraine Passed the Bill on Special Accounts

by Meifan Honcharuk
Wednesday, May 3, 2023
The President of Ukraine Passed the Bill on Special Accounts

The Ukrainian Budget Code will be changed according to the IMF program

The IMF provided 19 structural indicators for Ukraine. The second has already been implemented – changes in the use of funds from accounts in support of Ukraine. Volodymyr Zelenskyy accepted the document.

This means that Ukraine has already fulfilled the second paragraph in the recommendation on changing financial aspects in Ukraine. This structural landmark in the IMF program called for budget transparency. It will help Ukraine conduct the country's financial component and monitor the distribution and spending of funds that were transferred to support Ukraine. According to the rules of the budget programs of the special fund of the country's state budget, Kyiv will prepare reports every month. The report will consider everything from receipts to balances of financial assistance, etc.

Also, the adopted bill provides for the publication of the amounts received from voluntary contributions and a list of purchased goods and services. This will be done on the official websites of Ukraine.

It should be noted that Ukraine has already fulfilled the first recommendation of the IMF. Kyiv had to introduce a second additional budget. All 19 points of structural benchmarks relate to the fiscal link.

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