The temporarily enlargement of powers of the Ukrainian president to fight corruption in the judicial system and Prosecutor General's Office and their reformation is acceptable, and a compromise with the Ukrainian parliament should be achieved on the issue, famous philanthropist George Soros has said.

The powers of the Ukrainian president for a period of only two years to conduct the reform should be extended, and then the presidential powers will be terminated and the new Constitution will start working, he said at the Ukrainian Breakfast in Davos (Switzerland) organized by Victor Pinchuk Foundation on January 22.

He said that parliamentarians significantly resist to enlarging of the presidential powers.

He said that he discussed the necessity of the judicial reform with Ukrainian President Petro Poroshenko at a meeting in Davos on January 21.

The philanthropist, whose International Renaissance Foundation (IRF) has been operating for 25 years in Ukraine, said that the Venice Commission made a decision that is beneficial for Ukraine: the comprehensive judicial reform and amendments to the Constitution are required.

Soros welcomed the statement of German Finance Minister Wolfgang Schauble that a new Marshall plan for Europe is needed for the problem of migration and the plan for Ukraine should be part of it.

Ukraine is one of the most valuable assets the EU has both from the point of military protection and restoration of values and principles used to built the EU's idea, Soros said.

He said that if Ukraine loses in fight against Russian President Vladimir Putin's aggression and conducting reforms, it will be another source of migration and instability in Europe.

Ukraine must fulfill its part of work in conducting reforms that would justify the necessity of further support of the country.

Soros said that the additional support would make sanctions against Russia more efficient.