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Ukraine sees average salary rise to $289 in January
12:31, 2 March 2018

Ukraine sees average salary rise to $289 in January

Real wages in Ukraine increased by 12.3% in year-on-year terms.

12:31, 2 March 2018

Alamy

The average nominal salary of a full-time worker in Ukraine rose by 12.1% in January 2018 against the previous month. At the same time, in year-over-year terms, it grew by 28.4% to reach UAH 7,711 ($289), UNIAN reports.

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

In January 2018, real wages in Ukraine dropped by 13.4% compared to December 2017, however, they did grow by 12.3% in annual terms, the State Statistics Service has informed. The minimum wage was raised from UAH 3,200 ($120) to UAH 3,723 (140), starting from 1 January 2018.

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

The government of Ukraine aims to look into the possibility of a further increase to UAH 4,200 ($157) in the second quarter of the current year, given the country’s economy is performing as forecast. Full-time workers who received between UAH 6,000 ($225) to UAH 10,000 ($375) in December 2017 accounted for almost half (49.6%) of the entire workforce, indicating a 2.7 percentage point hike compared to March 2017. The government of Ukraine aims to ensure the average wage rises to UAH 10,000 ($374) over the course of the present year.

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

Earlier the Prime Minister of Ukraine Volodymyr Groysman said the real growth of wages in Ukraine in 2017 reached 19%, whereas their nominal growth was higher, UNIAN had reported. “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.

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