Deputy Prime Minister, Minister of Social Policy Serhiy Tihipko states acceleration of Ukraine's economic recovery.

"Together, the government and businesses ensured accelerated post-crisis recovery of the economy. Industrial production this year increased by 8.5%. This means reduction of unemployment, increased demand for skilled labor, wage growth and greater contributions to the Pension Fund," he said commenting on the performance of the Pension Fund in the first half of the year, UKRINFORM reported.

Tihipko said that the growth of the fund's own receipts was 21.1% compared to the same period last year, while revenues exceeded 66 billion hryvnia, which is even larger than originally planned.

"The measures to combat underground economy were not in vain either. In particular, VAT is now automatically compensated only to enterprises where average salary is more than two and a half times higher than the minimum. This prompted many owners to raise official salaries of their employees," the Deputy Prime Minister said.

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