REUTERS
Ukrainian Social Policy Minister Andriy Reva says that the budget of the Pension Fund of Ukraine (PFU) in 2018 will grow by 25%, to UAH 355 billion (US$13.2 billion).
"We will need to handle payments worth approximately UAH 30 billion [$1.1 billion] per month [in 2018]. That is, the Pension Fund's own income should be about UAH 214 billion [$8 billion]. Subsidies from the state budget remain unchanged – at UAH 141.5 billion [$5.3 billion]. The total figure is UAH 355 billion [$13.2 billion]," Reva said in an interview with UNIAN.
In his words, the Pension Fund's revenues have grown by 37% in 2017, while its net savings are expected to have grown by nearly UAH 15 billion ($558 million) by the end of the year.
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He also stressed that UAH 87 billion ($3.2 billion) would be allocated monthly in October-December 2017. Thus, the amount will be higher, as the incomes were higher than planned.
As UNIAN reported earlier, on October 3, the Verkhovna Rada of Ukraine introduced amendments to the Budget Code of Ukraine in connection with passing a bill on pension reform. According to the social policy minister, the purpose of the draft law is to clarify the provisions regarding the relevant expenditures of the State Budget of Ukraine, as well as to cover the PFU budget deficit.
According to the PFU, the fund's budget revenue in January-October of 2017 exceeded the projected figure by 13.9%, or by UAH 15.5 billion ($577 million), totaling UAH 126.9 billion ($4.7 billion).
According to Ukrainian Deputy Prime Minister Pavlo Rozenko, the PFU revenue from the single social security tax since the beginning of 2017 has grown by 40%, or by UAH 34 billion ($1.3 billion), year-over-year, to UAH 130 billion ($4.8 billion).