Tuesday, March 30, 2010

Iryna Akimova: IMF has nothing against social standards law

"With regard to social standards, it is obvious that any budget process shall occur within the legislation of Ukraine. In other words, the laws must be obeyed", she said.

"The IMF representatives closely cooperate with the Ministry of Finance and I think the consensus on this issue can and will be reached", said the First Deputy Head of Staff.

Iryna Akimova also said that the IMF expects the budget deficit in Ukraine this year to be at 6% of GDP: "Now the IMF reportedly calculates the budget deficit within 6%. It is not a dogma yet ... This is the figure we will proceed from in our discussions".

Iryna Akimova noted that this deficit includes spending for recapitalization of banks and financing of "Naftogaz Ukraine".