​Minister of Finance Oleksandr Danyliuk attended debates on EU macro-financial aid to Ukraine at the Budget Committee of the European Parliament

4/25/18

On April 25, during his working visit to Brussels, Minister of Finance Oleksandr Danyliuk attended the meeting of the European Parliament’s Budget Committee.

Discussing issues regarding the prevention of money laundering and corruption, reforms in the banking sector and the 4th macro-financial aid program of the EU, the Committee members expressed their support to Ukraine pursuing its reforms. At the same time, the members of the European Parliament stressed that there is a number of issues which must be solved fast.

Oleksandr Danyliuk reassured that Ukraine and especially the Ministry of Finance is aware of the existing issues and have already done a lot to solve them.

According to Oleksandr Danyliuk, Ukraine is set to accomplish the minimum standard BEPS action plan (prevention of base erosion and profit shifting) by the end of the year.

“This is an important signal to all OECD countries demonstrating that Ukraine is ready for cooperation,” the Minister of Finance said.

Oleksandr Danyliuk added that the Ukrainian state had become the owner of more than 50% of the Ukrainian banking system due to its comprehensive clean-up.

Due to this, our first and foremost interest is to achieve a stable development of the banking sector so the state can withdraw itself from the capital of state-owned banks,” the Minister of Finance said.

Oleksandr Danyliuk also stressed that it is crucial for Ukraine to fulfill the pending requirements of the previous 3rd macro-financial aid program of the EU.

Before the adoption of the new macro-financial aid program we have to complete the measures agreed in the 3rd macro-financial aid program of the EU. This will let us receive the first tranche under the new program as soon as possible after its adoption, which is crucial for the financial stability of Ukraine,” the Minister of Finance added.

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