The Chairman of the Committee of the Council on Finance, Tax and Customs Policy of Ukraine, Danylo Hetmantsev, warns of the need to revise tax policy in the country due to the deterioration of the budget situation, which is expected by 2025. He also noted that one of the options for government measures to replenish the budget is the possible devaluation of the Ukrainian hryvnia.
"Unfortunately, we cannot do without a tax review, since in 2025 the budget situation will worsen even more. Not only because of the increase in military spending, which we have to cover with our own resources, but also because of the uncertainty with international assistance. Ukraine's need for international financing for 2025 is estimated at $32 billion, of which $15 billion we do not yet understand how to cover," Hetmantsev said in an interview.
Options for issuing or accelerating the devaluation of the hryvnia and redistributing the remaining funds of local budgets in the amount of up to UAH 155 billion are also being considered. But such options will be resorted to as a last resort, the chairman of the committee noted.
“Raising taxes is also a bad decision, there is no debate about it, but it is, let's say, the least harmful of all available ones, and therefore we are waiting for proposals specifically on taxation from the Cabinet of Ministers,” added Hetmantsev.
