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Accountancy Chamber head warns of increasing Pension Fund deficit
Journal Staff Report

KIEV, March 3 – The significant deficit of the Ukrainian Pension Fund's budget has led to an increase in the fund's debt on loans borrowed from the state treasury, to UAH 22 billion as of the beginning of 2010, Accountancy Chamber head Valentyn Symonenko said.

"The government has not found any other way but to lend funds to the Pension Fund almost unlimitedly with the use of assets from the single treasury account," he said in Parliament on Wednesday. “Thus, the amount of outstanding debts on the credits taken by the Pension Fund from the state treasury exceeded UAH 22 billion over 2009."




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