KYIV, Aug 1 – Raising taxes is unavoidable since all other sources of increasing defense funding are exhausted. However, the Ministry of Finance is ready to find a compromise with businesses on the design of tax measures, Finance Minister Serhiy Marchenko has said.

"We are discussing the proposals of all interested parties and are ready to seek a compromise on the design of tax measures. The key issue now is timing. A decision must be made by September," he wrote on Facebook on Wednesday evening following a meeting of the Council for Business Support in Wartime Conditions under the President of Ukraine (the Council of Seven) chaired by Head of the President's Office Andriy Yermak and Prime Minister Denys Shmyhal.