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Average salary in Ukraine to reach $382 till end of year
16:06, 11 May 2018

Average salary in Ukraine to reach $382 till end of year

Oleksandr Saienko, the Minister at the Cabinet of Ministers, stressed that the minimum wage increase twice is an important step towards the economic unshadowing

16:06, 11 May 2018

www.obozrevatel.com

The representatives of Ukraine’s Government expect that the average salary can reach $381,5 till the end of the year, as Oleksandr Saienko, the Minister at the Cabinet of Ministers, said, the press office of the Government reports.

“The increase of real earnings of the population is one of the priorities for our government. We expect that the average salary can each $381,5 till the end of the year,” he stated.

The Minister stressed that the minimum wage increase twice is an important step towards the economic unshadowing. On the other hand, it has to comply with the level of economic growth so that it would not be a burden for business, a small business in particular.

Related: Ukraine sees average salary rise to $289 in January

”We have reached the growth of last year GDP by 2,5%, and the economic growth remains the priority this year. The PM has set a goal – GDP growth by 5-7% - and has offered a series of concrete initiatives to reach t. We are working towards implementing it,” Oleksandr Saienko said.

Besides, he stressed that the Government is a partner of a legal business and it important to measure the amount of the salary in relation to the business capability pay it.

“The minimum wage increase has to be correlated with the economic growth and workforce productivity. The main aspect here is the introduction of new technologies and innovations in particular. The Innovation Committee formed not a while ago, was instructed with this task,” Saienko added.

Related: Poroshenko, Lukashenko discuss economic, cultural cooperation

The Minister relies on the Ministry of Social Policy of Ukraine in terms of the establishing the level of the minimum wage:

“Primarily, we are interested in the wage increase, but we need to realize how this will affect the macroeconomic. If there is a minimum opportunity to move further, we will use it,” the Minister concluded.

Earlier, the average wage of a regular employee in December 2017 was around $343, which is 35,5% more than in December of 2016.

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