The week of Oct. 7-13, 2024, was eventful in the Ukrainian parliament, with key decisions being made related to business, economics, and international financial programs. One significant development was the adoption of a draft law to increase taxes, which included provisions such as a 50% income tax for banks as a windfall tax. Despite some opposition from the NBU, IMF, and Finance Ministry, the law is expected to bring in additional budget revenues of around Hr 25-30 billion ($600–700 million) in 2024 and Hr 150-160 billion ($3.6–$3.9 billion) in 2025. After facing some backlash, the parliament rejected resolutions to cancel the decision and sent the draft law to the Office of the President for signing.
Another important decision made by the parliament was the adoption of a draft law to increase the number of members of the High Anti-Corruption Court (HACC). This step was necessary to fulfill obligations to the EU, IMF, and the Ukraine Facility regarding anti-corruption measures. Additionally, the parliament passed a draft law on the basic principles of state climate policy, fulfilling obligations under the Ukraine Facility financial mechanism. The adoption of these laws reflects Ukraine’s commitment to international agreements and showcases efforts to combat corruption and promote climate-friendly policies.
In response to pressure from the Presidential Office on independent media outlet Ukrainska Pravda, the editorial team released a statement highlighting the ongoing interference. The accusations included blocking officials from communicating with journalists, pressuring businesses to stop advertising with the outlet, and confrontational interactions between President Volodymyr Zelensky and a journalist during a public press conference. The situation raised concerns about press freedom and government interference in media operations, sparking a debate on the role of independent journalism in Ukraine.
The European Council reiterated its stance on keeping Russian assets frozen until the end of the war and addressing legal and financial aspects concerning the use of these revenues. This decision reflects the EU’s commitment to upholding sanctions against Russia and supporting Ukraine’s efforts to secure reparations. The council’s statement underscores the importance of maintaining pressure on Russia and ensuring accountability for its actions, particularly in the context of ongoing conflicts in the region.
Overall, the events of the week in Ukraine’s parliament showcased a mix of challenges and progress in various sectors. From tax increases to anti-corruption measures and international obligations, lawmakers made significant decisions to address pressing issues facing the country. The debate over press freedom and government interference in media highlighted the importance of independent journalism in upholding transparency and accountability. As Ukraine navigates complex geopolitical and economic landscapes, these developments provide insights into the country’s efforts to reform and strengthen its democratic institutions in the face of ongoing challenges.
