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Ukraine Budget Vote Seeks to Clear Way for Next IMF Tranche

  • Payments from $17.5 billion bailout were held up over budget
  • Parliament postpones discussions of new tax code into 2016
Updated on

Ukraine’s parliament approved next year’s budget as it seeks to clear the way for the government to receive delayed funds from a $17.5 billion bailout to help the economy recover from recession.

The budget, a compromise between lawmakers and the cabinet, was passed by 263 votes in the 450-seat legislature. It envisages a shortfall of 3.7 percent of gross domestic product, in line with demands set out by the International Monetary Fund.