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Thursday, October 27, 2016

Ukrainian Minister admitted in the bankruptcy of the pension Fund of the country

The Minister of social policy of Ukraine Andriy Reva said about the catastrophic hole in the Pension Fund of the country. The deficit has already reached 145 billion (5.8 billion dollars).

photo: youtube.com

Photo: Andrew Reva

In interview to the edition “Economic truth” Reva said that we are talking about the actual bankruptcy Department. “The entire budget of the Pension Fund – 257 billion (10.3 billion USD billion), of which 145 (5.8 billion dollars) subsidy from the state budget”, – he said.

In this situation, according to Reva, blame his predecessors. They decided to reduce the deficit of the Fund, first imposed income tax “wealthy” pensioners, and then, in his words, he defended the “oppressed” – big business.

For it lowered the single social contribution, giving $ 2.6 billion. Exactly the same amount increased and the deficit in the Pension Fund, previously amounting to 3.2 billion dollars.

Reva said that in the future, the hole in the Fund will only grow as the majority of Ukrainian pensioners receive too little of the benefit, which will eventually have to increase.

The reduction in social spending is one of the conditions of granting to Kiev of the new loans from the IMF.

The Ukrainian crisis. Chronicle of events

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