Cooperation between Ukraine and the International Monetary Fund (IMF) will allow significant reduction of gas prices for households. Minister of Finance Serhii Marchenko stated this during the The Right to Power TV program, Ukrainian News Agency reports. "Thanks to the cooperation with the IMF and the tranche of USD 5 billion that was disbursed, Ukraine will be able to cover about 8% of the state budget deficit and finance payment of salaries, pensions, bonuses to doctors, and payments to socially vulnerable categories of the population," Marchenko said. According to him, the loan from the International Monetary Fund will not only have a positive effect on the country’s economy, it will also open the door for Ukraine to obtain macro-financial assistance from the European Commission and a loan from the World Bank, which will allow the government to meet this year’s budgetary targets. “There is now every reason to believe that we have passed the difficult phase of crisis in the economy. A market mechanism will be established for determining gas prices. The price is currently more than UAH 4,000 while the market price is UAH 2,275. The gas price for households will thus be lowered during the heating season," the minister said. As Ukrainian News Agency earlier reported, Minister of Finance Marchenko earlier stated that the Memorandum of Cooperation between Ukraine and the International Monetary Fund did not provide for raising the retirement age.