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The Ukrainian government has to speed up the indexing of wages and pensions, but do this in a way that does not cause hyperinflation, Ukrainian President Petro Poroshenko said on Thursday during his annual address to the Verkhovna Rada "On the internal and external situation of Ukraine in 2015."
"We have already received some additional revenues, partially of inflationary origin and due to de-shadowing," Poroshenko said.
"I ask the government to accelerate the indexation of salaries and pensions at least for a few months. But this must be done carefully so as not to provoke, as happened before, hyperinflation," he said.
"The government may consider increasing the threshold for taxable pensions. You also need to meet all the requirements of the law on the termination of any special pensions for MPs, ministers, judges, prosecutors, customs officers and other officials from June 1, 2015.
“Thirdly, it is necessary to adopt a law on common principles for calculating pensions. And, fourthly, we should give people the opportunity to use a funded system and at their request the services of private pension funds.”