This is issue 80, the weekly newsletter “Ukrainian Economy in Brief”, published by Ukrainian lawmaker Yaroslav Zelezniak. It covers events from October 28 to November 3, 2024. The digest highlights the steps taken by the Ukrainian Parliament in relation to business, economy, and international financial programs.
The Kyiv Independent republishes with permission.
The memorandum of understanding with the IMF includes benchmarks and soft commitments
The Ukrainian parliament has adopted the reform of the accounting chamber in its final reading.
The Verkhovna Rada (Ukraine’s parliament) has fully adopted the draft law #10044 d on reforming Ukraine’s Accounting Chamber. The parliament is preparing a law draft for signing.
The following are key provisions:
* Selection of chamber members by transparent competition with participation of international experts and their final vote;
* Political and financial independence of chamber;
* Reduction of the number of members to 11 from 13.
* Extending the mandate of the Accounting Chamber to all public finances including local budgets, funds from international partners and other sources;
* Mandatory external audit of chamber performance every 5 years
The Verkhovna Rada approved the State Budget for 2025 in its first reading.
The first reading of the draft law #12000, on the State Budget 2025, was adopted by the Parliament. During the discussion the Verkhovna Rada was able to reject an amendement which suggested increasing the wages of prosecutors. The text is unchanged, as it was approved by the Budget Committee.
The Bureau of Economic Security has announced the appointment of new members to the Civil Oversight Council.
The Bureau of Economic Security has announced the winners of the competition to find new members of Civil Oversight Council. The Civil Oversight Council will be run by representatives of five NGOs. Representatives of the NGO “Anti-corruption Ax,” the “Center of Social Control,” the Ukrainian Law Society, the Center for Economic Strategy, and the Institute of Legislative Ideas” will be running the Civil Oversight Council.
The deadline to veto the draft law on tax increase has passed.
The last day for President Volodymyr Zelensky to veto the draft law #11416 d on tax increases was October 30. As of Monday, the bill has not been signed. Selon our information, he was supposed to sign the bill last week. The reason for the delay has not been revealed.
Obligations of the EU
The deadline for signing the draft law on plea bargains was met.
The Verkhovna Rada approved in final reading on October 29 the draft law #12039 to improve plea agreements for those accused in large corruption cases. The President signed the law draft on 31 October, as required by the Ukraine Plan to receive the next tranche of funds.
Other important issues
The Verkhovna Rada has approved the resignation of the Prosecutor General.
The Verkhovna Rada approved the resignation of the Prosecutor-General Andrii Kostin last week. Kostin resigned after corruption schemes were exposed at medical examination commissions, and numerous facts about fake disabilities of prosecutors.
The Cabinet of Ministers is yet to announce a replacement for Kostin.
The parliament approved the extension of martial law in Ukraine and general mobilization.
The parliament has approved presidential draft laws that will extend martial law and mobilization for another 90-days, from November 1, until February 7, 2025. This is the thirteenth extension of martial law since February 2022, when the full-scale invasion began.
Yaroslav Zelezniak, the first deputy chairman of Ukraine’s Parliamentary Committee on Finance, Tax, and Customs Policy, is a member of the Ukrainian Parliamentary Committee on Finance, Tax, and Customs Policy. He is also co-chairman of the Ukrainian Chapter for the Parliamentary Networks of the World Bank, International Monetary Fund and World Bank.
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