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National Bank of Ukraine expects raise of average salary by 15 percent in 2021

Source : 112 Ukraine

The raise will not affect the exchange rate of hryvnia much
15:01, 25 September 2020

Ukrainian hryvnias
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Next year, the National Bank of Ukraine expects a raise in the minimal and average salary by 30 percent and 15 percent, respectively. Deputy Head of the Bank Dmytro Solohub said so in his interview with Interfax news agency.

"The economy will still be weak, and it will just begin to recover after the crisis. By our estimates, in case of 30-percent growth of the minimal salary, the average will grow by 15 percent or so", Solohub said. 

According to the official, the NBU expects that the raise of the minimal salary would not affect the exchange rate of hryvnia much. However, there still could be minor influence on the inflation course.

The new value of the minimal salary will be counted in the October forecast of the National Bank.

Currently, the minimal salary in Ukraine makes UAH 5,000 (approximately USD 178).

Related: Cabinet of Ministers approves salary increase for medical workers from September 1

Meanwhile, the government expects that by 2022 the average salary in the country would be at the level of $600. Prime Minister of Ukraine Denys Shmygal stated this on his Facebook page.

"In June, the average real wages exceeded the pre-crisis level and amounted to $450. The economy began to recover, and people are returning to work. We expect that by 2022 the average salaries in the country will be at the level of $600,” the head of government stated.

Related: Salary of doctors in Ukraine should be at level of $700-800, - Healthcare Minister

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