On Tuesday, the Ukrainian Prime Minister Denys Shmyhal announced that the war caused the failure of 3.5 million jobs in Ukraine. According to calculations, at least 10 million jobs are needed in the country, or 2 million more than it is now officially. Szmyhal besides added that many professions in Ukraine function in Grey Zone, which leads to taxation avoidance that is essential for the country.
The “work or fight” rule is nothing new. The president talked about her, we all agree with her. In a country that fights for endurance there cannot be people who stand by. People must fight or do anything to support those who fight said Szmyhal.
Hundreds of billions of hryvnia
The planned changes in law are intended to revolutionise the Ukrainian labour marketplace and, most importantly, increase the gross to the budget. Current estimates indicate that Ukraine urgently needs as many as 500 billion hryvnia, which corresponds to over 46 billion zlotys. expanding the number of legitimate jobs is intended to aid accomplish this objective. The plan foresees an increase in the number of specified places from 8 to 10 million, allowing more Ukrainians to pay taxes. In addition, higher salaries are intended to contribute to higher taxation revenues.
We have a critical request to rise additional resources for our defence – hundreds of billions of hryvnia. The Parliament received budget changes to over 500 billion hryvnia this year. This is the money we request to supply wages for the military, which are constantly increasing, to buy equipment, to finance the Ukrainian defence manufacture – explained the Prime Minister of Ukraine.
The planned actions include incentives to return at least any of the citizens from abroad to work in their country and pay taxes to the local budget. Moreover, the government wants to increase national loans and rise income taxation for banks.
Long ruins Ukraine
Ukraine received a backing tranche of US$1.5 billion through the planet Bank. In July, the British weekly The Economist He warned that if Ukraine did not take appropriate action, it would go bankrupt in the close term. All debts are worth 15% of Ukrainian GDP. If the work to repay the debt were to be defrosted, this expenditure would become the second largest burden at defence costs.
Analysts indicate that if Ukraine does not repay its debts, it may not only bankrupt but besides lose valuable investor confidence. This in turn could affect the continued deficiency of commitment to the defence of the country and yet lead to a complete collapse of the country. Finance Minister Serhij Marchenko conducted negotiations on the redemption of part of the debt, proposing a 60 percent simplification of liabilities, which would mean around $12 billion to be repaid between 2024 and 2027.
The economical situation in Ukraine is very difficult. The government led by Denys Szmyhal forecasts a evidence budget deficit of US$43.9 billion for 2024.
