KIEV, April 21 – The ruling Regions Party is seeking to amend legislation to restrict foreign funding of civic groups in Ukraine amid fears the groups may be used to ignite street protests against the government.

The plans come as protest sentiment has been growing sharply in Ukraine due to steeply rising cost of living and fears that more sacrifice will be needed before the economy starts to improve.

President Viktor Yanukovych, whose popular support has been dwindling fast, on Thursday admitted there was a problem with confidence. But he accused his political rivals for mismanaging the economy for so long, and bringing in discord within domestic politics.

“The people have stopped trusting anybody. Today they don’t trust the authorities. I know this well,” Yanukovych said in Cherkassy.

The plans to amend the legislation seek to restrict grants issued by foreign entities, such as financier and philanthropist George Soros, to Ukrainian civic groups.

This come days after Oleksandr Yefremov, the leader of the Regions Party in Parliament, said that Soros and other unidentified people have drafted plans for igniting the protests in Ukraine to overthrow the government.

“We created an informal working group that will work on these issues. We and Yefremov discussed this issue and we both are working on options that would solve the existing problem,” Vadym Kolesnichenko, a senior member of the Regions Party, told Kommersant daily. “The point is that we clearly need to know what goals the money provided by foreign countries are spent on the territory of our country.”

“If the money goes to charity then it should go to charity or other democratic institutions, but not on revolutions,” Kolesnichenko said.

Amid fears of growing public anger, the Yanukovych government postponed plans of hiking natural gas prices by 50% from April 1, and also postponed for several month a pension reform that calls for increasing the retiring age.

Both measures are demanded by the International Monetary Fund as conditions for resuming at least $1.5 billion in lending to Ukraine later this year.

The delays of the crucial reforms come as opinion polls have been showing signs of growing anxiety and anger among the people 12 month after Yanukovych had assumed the office of the president.

At least 63.8% of respondents said events in Ukraine are developing in the wrong direction, while only 14.2% of the respondents appeared to be happy with the course, Some 22% said it was hard to answer, according to Razumkov Center, a leading Kiev-based think-tank.

At least 53.9% of respondents said they were ready to go on public protest action to stop or to slow down the implementation of reforms, according to the center. At least 22.8% said they would not join the protests, and 23.2% said they were not sure, according to the poll.

Among possible triggers of future protests, respondents mostly named major price increases, wage arrears and low salaries.

“The dynamic is obvious: Yanukovych has wasted the credit of trust it had been given,” Iryna Bekeshkina told reporters. “Yanukovych began with the level of trust at 53% after winning the presidential election in February 2011.

“As a result, there may be either apathy or an uncontrolled explosion,” Bekeshkina said. (tl/ez)