IMF URGES UKRAINIAN GOVERNMENT TO RAISE TAXES: ALONA LEBEDIEVA ON RISKS AND PRIORITIES

KYIV, UKRAINE, August 22, 2024 /EINPresswire.com/ -- The International Monetary Fund (IMF) has recommended that Ukraine raise taxes to ensure financial stability, prompting various reactions among experts. Alona Lebedieva, owner of the multi-industry industrial and investment group of companies “Aurum Group,” shared her perspective on the matter.

“Raising taxes may be a necessary measure to support the economy during wartime, but it must be balanced,” Lebedieva notes. She emphasizes that tax policy should consider the needs of the population, especially vulnerable groups, to avoid placing excessive financial burdens on citizens.

Alona Lebedieva also highlights the need to combat corruption and shadow schemes, particularly at customs, where the country loses billions of hryvnias annually.

“Effective anti-corruption efforts could serve as an alternative to raising taxes and ensure stable revenue for the budget,” Lebedieva believes.

She also stresses the importance of transparent use of collected tax funds. “These funds should be directed towards key government programs that support economic growth and social stability,” adds the owner of “Aurum Group.”

According to her, the government needs to develop a comprehensive strategy that includes both tax increases and measures to support the economy and the population.

“A balanced approach is necessary to not only maintain stability but also to facilitate the country’s recovery,” says Lebedieva.

Alona Lebedieva emphasizes that raising taxes should be part of a broader strategy. She draws attention to significant budget losses caused by corrupt schemes, including inflated costs of public procurement, customs manipulation, and tax evasion by large companies. She notes that price inflation on goods for state needs or importation without proper customs clearance often leads to billions in losses for the state.

Lebedieva insists that to achieve true financial stability, it is necessary not only to increase tax revenues but also to ensure transparency and efficiency in the use of public resources. This includes strengthening oversight of public procurement, reforming customs procedures, and creating effective mechanisms to prevent tax evasion. Only such a comprehensive approach will allow Ukraine to minimize losses and ensure stable economic development.

Moreover, Alona Lebedieva points out that reducing corruption and optimizing government spending could significantly reduce the need for tax increases while preserving social stability. She believes that effective anti-corruption measures will not only boost budget revenues but also improve the investment climate, which is critically important for Ukraine’s long-term economic recovery.

Alona Lebedieva
Aurum Group
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