The government of Ukraine has approved four bills that are key to receiving the next tranche of macro-financial assistance from the European Union in the amount of €1.45 billion. The documents cover the areas of public finance management, anti-corruption policy and regulatory standards, which should bring Ukrainian legislation closer to EU standards. According to the PromPolitInform portal, this was reported by Pershyi Biznesovyi.
According to the Cabinet of Ministers, the adopted initiatives strengthen control over budget expenditures, improve state audit mechanisms and increase the transparency of financial transactions. Some of the changes are aimed at strengthening the institutional capacity of anti-corruption bodies, as well as harmonizing regulatory procedures with European requirements.
The European Commission emphasizes that the fulfillment of structural conditions is a necessary prerequisite for the allocation of the tranche. The funds are planned to be directed to budget support, social programs and the restoration of infrastructure damaged by Russian attacks.
Economists note that the adoption of the draft laws demonstrates Ukraine’s readiness to fulfill its obligations to partners and move towards deeper integration with the EU. At the same time, they emphasize that the real effect will depend on how effectively the new norms will be implemented in practice.
We remind you that the European Commission will complete the assessment of the documents in the near future, after which it will make a decision on the allocation of funding.
