A snap parliamentary election will lead to the collapse of Ukraine's economy, Ukrainian Prime Minister Arseniy Yatseniuk has said.

"What will it [the early election to the Verkhovna Rada] bring? Nothing but the failure of reforms, nothing but the real collapse of the economy and it won't improve the system of public administration," Yatseniuk said on TV Channel 1+1 last week.

Ukraine presently needs economic and political stability and "there will be time for elections then," he said.