We are not considering issue or devaluation of hryvnia instead of raising taxes - Hetmantsev

Verkhovna Rada Member from the Servant of the People faction, head of the parliamentary committee on finance, tax and customs policy, Danylo Hetmantsev, said that the authorities are not considering hryvnia issuance or devaluation as an alternative to raising taxes.

He told about this in an interview with the Ukrainian News agency.

"If the needs are greater, there will be greater taxes, and no one will avoid making this decision through any manipulation or construction of any "castles in the air" from the opposition. Because we do not consider the alternative as emission or devaluation," he said about the sources of financing the army.

According to him, this year the expected effect of the tax increase will be about UAH 58 billion.

Also, the lion's share of the additional need for defense this year should be covered by government domestic loan bonds, including UAH 216.1 billion from the placement of new loans, and UAH 58.5 billion due to savings on their maintenance.

As the Ukrainian News agency earlier reported, the Verkhovna Rada intends to raise taxes and return 50% of the tax on excess profits of banks.