Ukrainian President Viktor Yanukovych president.gov.ua Ukrainian Prime Minister Mykola Azarov has said he is confident that the government will cope with the tasks set by President Viktor Yanukovych on Wednesday, March 7.

"Of course, we have a great deal of work to do, Viktor Fedorovych [Yanukovych], but I'm confident that the government will cope with the tasks that you've set," he said at an extended meeting of the Cabinet of Ministers on Wednesday.

Azarov said the government would start fulfilling these tasks in the near future due to economic growth, the reduction in the shadow economy, and by improving productivity at domestic enterprises.

In order to take a number of measures to improve the welfare of citizens, the government will introduce the necessary amendments to the state budget for 2012 and take into account the necessary funding while planning the state budget for 2013, Azarov said.

In addition, he said that the government would closely monitor the work of local authorities on the implementation of social reforms.

As reported, at an enlarged meeting of the Cabinet of Ministers on Wednesday dedicated to the government's new social initiatives, Yanukovych instructed the government to increase by at least Hr 100 the pensions to nine million retirees who retired before 2008, ensure the payment in June through December 2012 of up to Hr 1,000 to each of the six million depositors of the former Soviet Sberbank as compensation for depreciated deposits, conduct from April 2012 a re-calculation of insurance benefits to people who became disabled as a result of industrial accidents, take steps to intensify the affordable housing program, introduce a European approach to the regulation of prices for medicines, and take a number of other measures.