The First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine Yuliia Svyrydenko met with the delegation of the International Monetary Fund (IMF) headed by Uma Ramakrishnan, Deputy Director at the IMF's European Department. The parties discussed financial support for Ukraine under a four-year, USD 15.6 billion loan program, as well as the reform plan under the Ukraine Facility program.

"We talked with our IMF colleagues about the government's business support programs and our plans to stimulate the economy for the next year. We also raised the issue of focusing on economic growth through support for business activity, private sector investment and war risk insurance. The NBU reiterated its position on the choice of a model to increase budget revenues. If we have to choose between raising the tax rate and increasing the tax base, our idea is to increase the tax base by stimulating business growth. Right now, it is important for us to stimulate processing so that when the physical volume of exports decreases, we can increase its monetary value," explained Yuliia Svyrydenko.

In turn, IMF representatives assured that their assistance was designed for two stages - the first will ensure macroeconomic stability, and the second is aimed to support the implementation of reforms. In this regard, the parties discussed the preparation of a plan for future reforms, which is currently being discussed under the Ukraine Facility program.

"We would be interested in the opinion of IMF experts on the reform plan, as we are currently preparing a document that should be acceptable to all our international partners who financially support Ukraine. It is now crucial to send signals to the donor community about the importance of supporting war risk insurance programs and the development of export-oriented production, which should ensure future budget revenues and macroeconomic stability," continued Yuliia Svyrydenko.

During the conversation, the parties discussed the problems of labor migration and came to the conclusion that without building a strong economy, it would be extremely difficult to return Ukrainians from abroad. That is why the Ministry of Economy of Ukraine sees the creation of safe conditions for doing business and increasing the number of new jobs as the main objective for today.