From 1 January 2018 expected minimum salary will be UAH 3723.
Average salary of a Ukrainian in November 2017 increased by 21.4% compared to the same month last year – up to UAH 7479.
This is evidenced by the State statistics service (gosstat).
It is noted that real wages in November 2017 rose 0.5% compared to the previous month this year.
Recall that real wages in Ukraine in October 2017 increased by 19.9% in comparison with October of last year. Thus, in comparison with September 2017 this figure has decreased by 0.8%.
The Cabinet said earlier that from January 1, 2018, the expected size of the minimum salary will be UAH 3723, in 2019 this amount will reach UAH 4173, and in 2020 – 4425 UAH.
Nominal wages include tariff rates (salaries), bonuses, additional payments, allowances, payment for unworked time, and also obligatory payments of the tax to incomes of physical persons, military training.
Real wage characterizes purchasing power of nominal wages under the influence of changes in consumer prices for goods and services and the level of taxes and mandatory payments.
The real wage index is calculated by dividing the index of nominal wages accrued (excluding tax on income of physical persons and military training) to the consumer price index.
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