Today, June 10, at its meeting the Government has decided to provide the Unemployment Insurance Fund with an additional UAH 2,972 billion resource to pay unemployment compensation on a non-refundable basis.
"The Government is doing everything possible to preserve jobs. But the reality is that quarantine measures negatively affect the labor market and the unemployment rate is increasing. In order to ensure a timely and full amount of assistance provided by law, today's decision of the Government on additional funding is of critical importance," commented the Minister of Economic Development, Trade and Agriculture of Ukraine Ihor Petrashko.
It should be recalled that under the Government's decision of April 27, 2020, a UAH 1,277 million financial assistance to the Unemployment Insurance Fund was provided for the payment of unemployment compensation. To date, a financial resource worth UAH 1,198 million has been received, which is 94% of the planned sum. This has allowed the timely payment of unemployment benefits for April-May.
It is worth noting that at the time the Government provided financial assistance, the number of recipients of unemployment benefits exceeded last year's figures by 43%. Today, 78% more people receive unemployment benefits as compared to last year.