Editor’s note: This is issue 78 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from Oct. 14- Oct. 20, 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 president signed the draft law on customs reform.
On Oct. 17, President Volodymyr Zelensky signed draft law #6490-d on the full restart of the State Customs Service. Key provisions of the draft law, in particular those regarding new procedures to select the service's head, will come into force from Oct. 31.
Andrea Januta
The draft law on tax increase hasn’t been signed yet.
On Oct. 15, the speaker of the parliament signed draft law #11416-d on tax increase and sent it to the President's Office for signing. The draft law was considered as urgent by the office. However, the President still hasn’t signed it yet.
As we reported in Issue 77, one key amendment which included all major suggestions from the Tax Committee was rejected during the voting, in particular, the norm which enables the draft law to come into force retrospectively from Oct. 1. For example, it seems that the increase of military levy will be applied only after the draft law is signed and published, which will decrease expected revenues from its adoption.
Andrea Januta
Next week parliament will consider the draft law on the accounting chamber reform.
Next meetings of the Verkhovna Rada of Ukraine are scheduled for the week starting Oct. 28. Among the issues in the agenda the parliament will consider are the 2025 State Budget and draft law #10044-d on the restart of the accounting chamber of Ukraine.
The competition for new members of the Bureau of Economic Security Civil Oversight Council has begun.
To participate in the competition to the new bureau's Civil Oversight Council, CSOs had to nominate their candidates and submit their documents from Oct. 14-18. New members will be selected by online voting which will take place from Oct. 24–Oct. 27. The results have to be announced and published on the bureau's official website on Oct. 28.
World Bank priorities
The president signed three draft laws from the World Bank requirements.
On Oxt. 17, the president signed among others draft law #5819 on regulating rating agencies, draft law #11474 on privatization of the state banks via Prozorro.Sale platform, and draft law #11063-d on the State Agrarian Register (the latter is also an obligation under the Ukraine Facility). All three were required by the World Bank for receiving further financial support.
The Committee on Economic Development is finalizing the new draft law on public procurements.
On Monday, the Committee on Economic Development has to finalize the text of draft law #11520 on public procurements for the second and final reading. The committee must send the draft law for the revision of the European Commission immediately.
Kateryna Denisova
