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 Ukrainian Politics, Economics
  2403

 Parliament passes only one third of laws necessary for rapid and efficient reforms. It's unacceptable, Ukraine’s PM says

The prime minister stated that only a third part of the laws designed for fast and efficient reforms are voted in the Verkhovna Rada of Ukraine.

Prime Minister of Ukraine Arsenii Yatseniuk said at a meeting of the Financial Stability Board on Monday, Sept. 7, Censor.NET reports citing the official website of the government.

"Despite various political commitments and political flags, the country should demonstrate unity in the need to adopt and implement laws aimed at ensuring financial and economic stabilization, Ukraine's prosperity, creation of jobs, new businesses, growing income, and, accordingly, increase in wages, pensions and other social standards in the country," the PM said.

The prime minister appealed to the members of the parliament: "For the first time in the history of Ukraine we have had the program with the International Monetary Fund reconsidered twice. And we expect the arrival of an IMF mission for a third revising. It is unacceptable that only a third part of the laws designed for fast and effective reforms are voted in the parliament while the country is pursuing reforms."

Arsenii Yatseniuk stressed the importance of vote on several bills in the parliament within the following plenary week, including those directly relating to Ukraine's liabilities to foreign investors and debt holders.

Read more: "We have managed to stabilize economic situation in the country," - Yatseniuk

Yatseniuk stressed these were "first clear signs that the financial system of the country was actually on the way towards stabilization."

He recalled that there were just 108,000 hryvnia on the accounts of the State Treasury as of Feb. 27, 2014 (about $12,000 at the currency exchange rate of the time). "There are 45 billion hryvnia (about $1.956 billion) on the State Treasury accounts today, excluding foreign currency."

"It evidences that we have managed to settle the economic situation", the head of government stressed, adding that much was still to be done.

"We manage to maintain the financial sector stable due to the joint actions of the Government and the National Bank. Much has been done in the banking sector, thus providing us an opportunity to allocate unprecedented funds for national security and defense in the amount of almost 100 billion hryvnia (about $4.347 billion)," Arsenii Yatseniuk said.

Read more: "Ukraine's government is not controlled by oligarchs": Yatseniuk and Saakashvili debated on reforms

According to him, the funds accumulated on the accounts of the Treasury will afford the Government to finance national security, defense, army, and social benefits: "The funds accumulated over the current year have created a reserve that will be used to cover the expenditures on state order as well as all expenditures on national defense and security and payment of increased salaries and pensions".

He recalled that the Government decided to increase salaries, pensions and social benefits effective Sept. 1, 2015 within the measures to solve the economic and financial problems in the country. "I expect that the parliament will support the appropriate amendments," the head of the Government said.

Besides, Arsenii Yatseniuk expects the parliament to approve the law on debt writing-off and restructuring.

The prime minister noted that the further action plan to balance the financial system and "lay the basis for economic growth" would be discussed at the meeting of the Financial Stability Board.

 
 
 
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