: :inin Kyiv (EET)

Finance Ministry insists on implementing pension reform this year

Ukraine`s Finance Ministry insists on carrying out a pension reform as early as in 2016, along with introducing changes to the budgetary process, said Ukrainian Finance Minister Oleksandr Danylyuk at the annual meeting of the European Bank for Reconstruction and Development in London.
”It is very important that we start a pension reform. In addition, it is important for me and for the country to change the budgetary process. And we will do it this year,” Danylyuk said, adding that it was necessary to make public finance more transparent.
As UNIAN reported earlier, the pension and the budget reforms in Ukraine are part of a reform program which was approved by the International Monetary Fund in March 2015. The regulatory framework for carrying out the pension reform was developed in 2015, and it should have started at the beginning of 2016. However, due to a number of political and economic reasons, the reform`s implementation has been postponed. A newly formed Ukrainian government led by Prime Minister Volodymyr Groysman has named the pension reform one of its priorities.
With respect to the budgetary process, the new government suggested that it was necessary to shift to a three-year budget planning, which envisages the identification of key areas of public finance and insurance of transparency and real-time information on public spending. 


Submit a Comment

Your email address will not be published. Required fields are marked *

Pin It on Pinterest

Share This

Share this post with your friends!