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    RT: IMF Aid Package Pushes Ukraine Gas Prices Up 280%

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Summary

The IMF will require Ukraine to raise its gas prices by 280% and its heat prices by 66% in exchange for a financial aid package, its National Bank head has said

by: Erica Mills

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RT: IMF Aid Package Pushes Ukraine Gas Prices Up 280%

Ukraine has agreed to increase the cost of gas to consumer by 280 percent, and 66 percent for heating, as part of the IMF terms for getting extra financial aid, says Valery Gontareva the head of the National Bank of Ukraine.

"From now on, in accordance with our joint program with the IMF, the tariffs will see rather a sharp increase of 280 percent for gas and about 66 percent for heat," said Gontareva Wednesday during the 11th Dragon Capital investment conference in Kiev. She added that as a result inflation will be 25-26 percent by the end of 2015.

The tariff rises are part of the amendments to the 2015 budget the government has had to introduce in order to receive an $8.5 billion loan from the IMF by the end of the year.

Read the full article HERE.

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