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"The previous government publicly boasted about achievements, whereas in reality it concealed the fact that the country is on the brink of a financial catastrophe," the newly appointed finance minister said. Ukraine's total pension fund deficit is Hr 29.8 billion, Finance Minister Fedir Yaroshenko said at a briefing in Kyiv.

"The total pension deficit in the first quarter is Hr 29.8 billion, required funding - Hr 44.5 billion, the balance at the beginning of the month -Hr 2.2 billion, revenues - Hr 24.6 billion, and covering from state budget - Hr 12.1 billion," he said.

"The previous government publicly boasted about achievements, whereas in reality it concealed the fact that the country is on the brink of a financial catastrophe," the newly appointed finance minister said.

The Finance Ministry is able to ensure the timeliness of all necessary social payouts, he also said. "We will not let a single disruption occur in the public finance system, and our citizens will always get their salaries and pensions on time," the minister said.