KIEV, May 7 – Ukraine plans to raise end-user gas and heating tariffs by 40% on average, effective May 1, 2015, and thereafter the country will raise these tariffs by 20% on average in each of 2016 and 2017, effective May 1, according to an April 22 International Monetary Fund report.

According to the document, the tariffs will be increased through 2017 until losses of national joint-stock company Naftogaz Ukrainy are eliminated by 2018. Naftogaz’s financing gap this year is large - UAH 62 billion.