Ukraine's Cabinet of Ministers on Wednesday approved a poverty reduction strategy, which foresees that the share of the poor in Ukraine will be reduced almost by a half, to 15% by 2020.

"We expect the poverty rate by absolute measure in Ukraine will be reduced from 28% to 15% in 2020 as a result of the implementation of this program and poverty reduction strategy, which will later be complemented by detailed plans," Social Policy Minister Pavlo Rozenko said at a meeting in Kyiv on Wednesday.

He also said that once implemented, the strategy would be conducive to a reduction in the poverty rate among the employed from 18.5% to 11% with a decline in the unemployment rate to 9%.

Moreover, Rozenko forecasts that targeted social assistance would be enhanced. The share of the poor engaged in social protection program will be increased from 55% to 65% in the next five years.

The minister pointed out the problem of the growing poverty rate in the country in the next three to four years, especially among the employed. At the same time, he said that international practice demonstrates that such trends could be changed if necessary measures of social and economic support are used.

According to Rozenko, the strategy outlines the government's major poverty reduction efforts. It is based on the sustainable development goals adopted at the UN Summit in September 2015, and is part of a program for the adaptation of Ukrainian legislation to the EU's laws.