Ukraine has reached a compromise with the International Monetary Fund (IMF) on natural gas tariffs adjustment after about a year of negotiations, the Ukrainian government said on Friday.
Starting from Nov. 1, 2018, the gas price for Ukrainian households will rise by 23 percent, said a statement on the government's website.
The gas price hike is one of the main reforms Ukraine must implement for receiving the next tranche from the IMF's 17.5-billion-U.S.-dollar bailout program.
The global lender has required Kiev to bring the gas tariffs to the market level for helping the economy to maintain stability amid internal and external risks.
Since 2015, the East European country has received about 8.7 billion dollars from the IMF, which helped prevent the collapse of the Ukrainian economy. The disbursement of the aid was suspended in April 2017.
Editor:Cherie
