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. Last Updated: 07/27/2016

Kiev Pension Bill Axed

KIEV -- Ukrainian President Leonid Kuchma vetoed a bill that would have raised the minimum pension from the current level of $4.20 a month, arguing Monday that the country could not afford the increase.

Parliament voted last month to raise the minimum pension from 16.6 hryvna ($4.20) to 55 hryvna ($14).

However, Kuchma said the move would further increase the government's already high pension debt, the president's office reported.

Also Monday, Kuchma spited parliament by vetoing a law that banned price hikes for utilities.