Business news from Ukraine

UKRAINIAN PRESIDENT SUGGESTS GIVING PEOPLE OF UKRAINE RIGHT OF LEGISLATIVE INITIATIVE

The right of legislative initiative in the Ukrainian parliament, which previously belonged to the president, the Cabinet of Ministers and members of parliament, may be given to the people of Ukraine, according to the text of bill No. 1015 changing Article 93 of the Constitution of Ukraine (on the people’s legislative initiative), submitted by Ukrainian President Volodymyr Zelensky on August 29.
The text of the document was posted on the Ukrainian parliament website on Friday.
The bill proposes including in Paragraph 1 of Article 93 of the Constitution the words that “the right of legislative initiative in the Verkhovna Rada belongs to the people, the president of Ukraine, the Cabinet of Ministers of Ukraine, members of parliament of Ukraine and is exercised by them in the situations and in accordance with the procedures determined by the Constitution and laws of Ukraine.”
The document proposes added to the Constitution a paragraph stating that “the law is adopted in accordance with the legislative procedure requirements determined by the Constitution and laws of Ukraine.”
According to the explanatory note attached to the bill, the purpose of the changes proposed by the bill is to ensure an effective mechanism of legislative initiative in Ukraine by broadening the list of its subjects.
The bill needs to be adopted because the list of subjects of the right of legislative initiative determined by the Constitution “is narrow and makes it impossible for the people of Ukraine as the only source of power to be such subject.”
Ukraine currently does not have a legislative mechanism for implementing the proposal to give the right of legislative initiative to the people.

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YULIA TYMOSHENKO: DRAFT NATIONAL BUDGET THREATENS WELL-BEING OF PEOPLE AND UKRAINIAN ECONOMY

Leader of the Batkivschyna party Yulia Tymoshenko believes that the draft national budget for 2019 submitted by the authorities is a budget for the destruction of the economy, since it envisages raising tariffs and freezing minimum wages and pensions, which will lead to the total impoverishment of the population and the destruction of the middle class, according to the official website of the party.
“For the first time in the history of Ukraine, wages and pensions are equal to 43% of the subsistence level. This is the budget of total poverty, saving the tariff policy that is crushing for Ukrainian families – they are increasing by 23%. This is a corrupt and destructive budget for the economy,” Tymoshenko told journalists in the parliament.
According to the leader of Batkivschyna, the minimum wages and pensions provided in the estimates in U.S. dollar terms are 1.7 times less than they were at the beginning of 2014, health care financing has been reduced by 1.6 times.
According to Tymoshenko, it is unacceptable that the budget for 2019 is based on the old tax base, with twice the higher rates than in developed countries, which significantly slows down the development of the economy.
The politician noted that if the government draft budget is adopted, “the economy’s falling, emigration of people to other countries, the destruction of the middle class will continue.”
“This budget, in essence, is a verdict to the country. I hope that the deputies will not risk voting for it,” Tymoshenko stated.

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