President of Ukraine imposed a raise to import duties of several commodities

The FINANCIAL — Viktor Yushchenko, the President of Ukraine, signed the Law of Ukraine #923-VI "About the alternation to several laws of Ukraine in order to improve the conditions of balance of payment of Ukraine because of the global financial crisis".

The law imposes a 13% temporary raise to the existing rates of import duties for a six-month term. The raise is imposed due to reestablish equilibrium of the balance of payment of Ukraine, which was characterized as critical.

The law determines that the raise should be imposed only in cases of the critical conditions of Ukrainian balance of payment in future. The term of the raise totals six months, but the government has abilities to prolong the term by another six months.