Pinchyk, also a congressman and a millionaire, made the remark in an interview with New York Times, Interfax reported.

He said the coming week would be a decisive period for both the Ukrainian people and Kuchma himself, adding that Kuchma was ready to make compromise with Yushchenko.

"Kuchma should save the country," he was quoted as saying.

Pinchyk said there was no doubt that frauds had taken place in the elections, adding that fraudulent acts take place in any elections held in former Soviet Union countries.

He noted that both camps had made frauds in the elections, and what matters is that the fraudulent acts committed by the camp of Prime Minister Viktor Yanukovich were more effective than the opposition.

Pinchyk predicted that if a new round election is held, Yushchenko would possibly be elected as president, for the opposition has successfully erected an image of "seeking democracy" and "opposing corruption."

On Thursday, Kuchma paid a short visit to Moscow and met with Russian President Vladimir Putin. The two leaders vowed to favor an entire new election instead of a revote for the second round ofelection.