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Real wages in Ukraine grow by 19% in 2017

Source : 112 Ukraine

According to Ukraine's Prime Minister, the government aims to ensure that income grows faster than prices
13:40, 16 February 2018

Open source

The Prime Minister of Ukraine Volodymyr Groysman says the real growth of wages in Ukraine in 2017 reached 19%, whereas their nominal growth was higher, UNIAN reports.

Related: Real wages in Ukraine 18.9% up in Dec 2017 – statistics

“We managed to reach a 19% real growth of wages in the previous year, their nominal growth was higher. Nevertheless, we realize the effect of inflation. Hence, the real growth of wages stood at 19%,” the Prime Minister said during a government meeting on Wednesday, 14 February.

Related: New economic distortion: Why wages grow in Ukraine?

According to Volodymyr Groysman, the government seeks to ensure that the household incomes increase faster than prices do. Inflation is evident in any economy, but in our country this issue is particularly sensitive,” the Prime Minister said.

The average nominal salary of an average full-time employee in Ukraine rose by 17.4% in December 2017 against the figure exhibited in November 2017. At the same time, it increased by 35.5% in year-on-year terms and reached UAH 8,777 ($328 per month).

Related: Hugely increased wages - Ukraine's only way to reduce shadow economy

The Cabinet of Ministers of Ukraine, under the policy for economic growth and rising social standards, seeks to ensure the average salary in Ukraine reaches UAH 10,000 ($374) by the end of 2018.

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