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Ukrainian govt allocates $221,3 million for unemployment benefits

Source : 112 Ukraine

The Cabinet of Ministers has decided to provide real assistance to people and business
11:23, 28 April 2020

Ukraine's Cabinet of Ministers
24 Channel

Ukraine's Cabinet of Ministers adopted a resolution on the allocation of funds in order to provide financial assistance to the Compulsory State Social Insurance Fund of Ukraine in case of unemployment. This was reported by the press service of the Ministry of Economic Development, Trade, and Agriculture.

The ministry specified that the resolution implies the allocation of 221,3 million dollars, as well as approval of the procedure for the use of these funds.

"The resolution will allow two goals to be solved. The first is to provide real help to those people who, unfortunately, have already lost their jobs. The second is to help employers pay wages to their employees and thus prevent layoffs," the statement reads.

Related: Lockdown doubles unemployment rate in Ukraine, - report

The allocated funds will be used to: repay unemployment benefits – 47,11 million dollars; raise the minimum amount of unemployment benefit from 24 dollars to 37 dollars; assist the released on their own accord from the first day, not from the 91st day; pay the money out to all unemployed from the first day of registration, not from the seventh; pay off partial unemployment benefit – 174.2 million dollars; make payments to small and medium-sized businesses for quarantine to cover wage costs for part-time workers.

As we reported earlier, Ukraine's state budget deficit amounted to 1.18 billion dollars in January-March 2020, which is 1.25 times higher than in the same period last year. 

Related: Fall of Ukraine’s economy to be deeper than in world, - Economy Ministry

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