Thursday, March 18, 2010

President expects local budgets to be adopted in May

Viktor Yanukovych called on local authorities to take active part in drafting State Budget 2010. "Participation of regional authorities in elaboration of the budget is mandatory", he said, adding also that the principal financial document in the state, of course, should reflect the interests of the regions.

The President described current financial situation in Ukraine as very difficult. "But, of course, we will not sit idly by", he said.

Viktor Yanukovych also informed that he plans to hold a consultative meeting dedicated to pension reform next week.

"Pension reform was stopped, and during last five years nothing has been done in this area. I think next week I will conduct such a meeting ", said Viktor Yanukovych, explaining that present Pension Fund deficit amounts to about 22 billion UAH and pensions in Ukraine are about 40% lower than, for example, in Russia.

"In the nearest optimal time we will at least try leveling Ukrainian pensions with those in Russia", said Viktor Yanukovych and emphasized that he is for fair payment of pensions, in particular, with strict regard to length of service and working conditions. In addition, he said, during preparation and implementation of the pension reform the state would study world experience and take into account the impact of the recession.