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Commission`s Opinion – EU acquis Chapter 17

Moderately prepared (3)

Ukraine is moderately prepared in the area of economic and monetary policy. Its legislation on the Central Bank is only partially in line with the EU acquis. The fiscal framework and medium-term budget are in place, however, there is no independent fiscal institution. National government finance statistics do not include excessive deficit procedure statistics. In terms of fiscal policy, legislation is partially aligned with the EU acquis, especially on tax policy. Challenges remain on the effective implementation and enforcement of legislation, in particular on improving revenue collection and ensuring implementation of medium-term budgetary planning and Central Bank independence, which also needs a stronger supervisory capacity.