**Ukraine Reforms Tracker: Weekly Issue 2**
This article summarizes the key economic and reform-related events in Ukraine from November 18 to 24, 2024.
**Parliament Adopts 2025 State Budget**
The Verkhovna Rada, Ukraine’s parliament, approved the state budget for next year on November 19. The government expects a revenue of Hr 2.3 trillion ($55 billion), including an additional Hr 141 billion ($3.4 billion) from tax hikes. Defense spending is projected to reach Hr 2.22 trillion ($53 billion).
**Government Meets IMF Structural Benchmarks**
On November 22, the Cabinet of Ministers approved a draft law to establish a High Specialized Administrative Court, meeting one of the International Monetary Fund’s (IMF) structural benchmarks. Another draft law was also approved to incorporate public investment management into the budgeting process.
**Reform of Accounting Chamber Advances**
The Verkhovna Rada unblocked the reform of Ukraine’s main auditing body, the Accounting Chamber. Lawmakers rejected seven resolutions aimed at overturning the decision, paving the way for the parliament chairman and president to sign the bill into law.
**Ukraine Meets EU Obligations**
The Verkhovna Rada voted in favor of a draft law to resume monitoring and reporting of greenhouse gas emissions, meeting an obligation under the Ukraine Plan.
**Other Key Economic Issues**
A Parliamentary Temporary Investigative Commission on Economic Security warned that the illegal tobacco trade is rising again. Legal sales of tobacco products have decreased since September 2024, which may signal a resurgence in illegal production.
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