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Tigipko: Pension Fund's deficit to be raised by Hr 7 billion

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June 19, 2012, 10:18 a.m. | Ukraine — by Interfax-Ukraine

The deficit of the Pension Fund will be raised by Hr 7 billion, to Hr 16 billion, Ukrainian Deputy Prime Minister and Social Policy Minister Sergiy Tigipko has said.
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The deficit of the Pension Fund will be raised by Hr 7 billion, to Hr 16 billion, Ukrainian Deputy Prime Minister and Social Policy Minister Sergiy Tigipko has said.

"This year, the Pension Fund's deficit was planned at Hr 9 billion. Now we will increase it by Hr 7 billion, the amount that we will practically take from the budget," he said live on the ICTV Channel on Monday.

Tigipko also said that Ukraine should not speed up the introduction of the second level of the defined contribution pension system.

He said that it was necessary to talk about the introduction of this level after the Pension Fund's budget is balanced. He said that this would most likely happen in 2014.

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