You're reading: Yanukovych cancels Independence Day parade

Ukrainian President Viktor Yanukovych has signed a decree to cancel this year's Independence Day military parade in Kyiv, Kerch, Odesa, Sevastopol, and cities hosting the headquarters of the branches of the Ukrainian army.

Yanukovych also decided to cancel the production of the "20 years of Ukrainian independence" medal, the presidential press service reported on Friday.

According to the decree on the president’s website, Yanukovych instructed the government to allocate the saved budgetary funds to finance measures to boost the social security of the population.

The document was adopted in order to reduce the expenditures of the national budget of Ukraine and "raise the financing of social security measures."

Decree No 752/2011 on the organization and implementation of the preparations for and celebration of the 20th anniversary of Independence of Ukraine was signed, published and came into effect on Friday.

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