“This year, social standards will increase by 12% to compensate the growth of prices and tariffs,” said the Prime Minister of Ukraine Arseniy Yatsenyuk during An Hour of Questions to the Government on Friday, February 19, at the Verkhovna Rada.

“This year, we should maintain price stability first of all. In other words the anchor of inflation for us is 12%, that is what the Government should be responsible,” PM noted.

Arseniy Yatsenyuk said that objectively the inflation rate is linked with the ten parameters. "The first and foremost for us is the rate of national currency. And I hope that the National Bank will do everything to ensure currency stability in the country," he said.

“We should cooperate in the framework of the program with our Western partners including the program with the IMF in order that the National Bank managed to do it [ensure currency stability]. And to take the decisions inked by the President of Ukraine, Prime Minister which are approved by the Action Program of the Cabinet of Ministers of Ukraine,” stressed the Prime Minister.

At the same time the expected inflation will be compensated to the citizens, Arseniy Yatsenyuk noted: “We are increasing this year, social standards as well by 12%, to compensate the growth of prices and tariffs”.

“Now we have no additional resource at this stage. It will be very, very difficult to carry out the state budget due to the significant decline in oil prices, substantial collapse of world prices for main export positions of Ukraine. Like last year, I declare: if the execution of the budget to be better than we expect, this means that these funds will be spent on social payments,” said the Prime Minister.