The norm on the necessity of raising the pension age is absent in the draft memorandum of economic and financial policy, preparation of which Ukraine finalizes for obtaining the third tranche in February under Extended Fund Facility (EFF) program, said Minister of Finance Natalia Yaresko, Interfax-Ukraine reports.

“Now the document does not have it. But the pension reform will continue, we need to do this either way, but we do not have any specific obligation,” she said  to Interfax-Ukraine on Friday behind the scenes of “Ukrainian breakfast” in Davos, organized by the Fund of Pinchuk.

Natalia Yaresko commented that there is no necessity to introduce amendments to the tax and budget package, approved at the end of 2015, before approval of the third tranche, because its provisions satisfied IMF.

According to her, before the management board meeting the government approved the strategy on state banks.  The Minister could not indicate the estimated amount of capital increase of state banks, however she noted that it will not be considerable so to pose threat to approved indicators of state budget deficit in 2016.  

The Minister noted that she expects the IMF decision on the third loan tranche under EFF program to be in February. “We still do not have the exact date,” – Natalia Yaresko said.

There was reportedly a provision on introduction of a new beacon – adoption of the new legislation on gradual raise of pension age to 62 years in May 2016: for men – from July 1, 2016, and for women – January 1, 2021, in the draft memorandum, published by the “Ukrainian truth”, dated November 2015.