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Monetization of subsidies: Ukraine’s Cabinet of Ministers gives details

The government launched the monetization of subsidies process at the end of December
17:16, 13 February 2019

Hennadiy Zubko, the Deputy Prime Minister of Ukraine
Open source

The government reported when and how Ukrainians will be able to get cash within the monetization of subsidies process. Hennadiy Zubko, the Deputy Prime Minister said this, as 112.ua reports.

According to Zubko, today over 4.2 million households have the right to get subsidies, about 70% of them are retired people. Another 1.2 million are working population although they need the state to help them in paying utilities.

Related: Shadow economy level in Ukraine reduces to 32% during 2018

“The schedule when and how the pensioners can withdraw money is still in the process, those, who have bank accounts in “Oshchadbank”, will get the money on time. Those who get their pensions through the post office “Ukrposhta” will get the pension with subsidies during 4-25 of March. Those who have not opened accounts in the bank yet, should open them and quickly pay for the services”, - Zubko added. 

As we reported earlier, Ukraine would suspend the introduction of elements of the funded second pillar to the pension system for the period when the new Stand-By Arrangement (SBA) with the International Monetary Fund (IMF) is in effect. 

IMF published the text of the Memorandum on the economy and fiscal policy within the new program for 2018-2020.

Related: How to freshen way of Ukraine's economy to 5-10% growth annually?

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