IMF mission says has better understanding with Ukrainian authorities

"The mission continued constructive discussions with the authorities on policies that are needed to complete the second review under the EFF arrangement. Significant work at the technical level helped advance mutual understandings regarding the planned tax reforms and the implications for the 2016 budget. Accordingly, it is now important that the Government submits to Parliament a budget that is consistent with the program objectives of further reducing the budget deficit and public debt to safer levels, and that the parliament adopts such a budget," he said. "This will require permanent measures to broaden the tax base and rationalize spending. A strong fiscal position along with actions to rehabilitate the banking system and speed up economic reforms are critical to entrench financial stability and pave the way for strong and sustainable growth," he said.