The first increase of the minimal salary up to 3723 UAH is planned from 1 January 2018.
The project of the Cabinet of Ministers provides for a gradual increase of the minimum wage, bringing it to a level above 4 thousand hryvnias in 2019. This was announced by Vice Prime Minister of Ukraine – Minister of economic development and trade Stepan Kubiv in Facebook.
“The draft Cabinet of Ministers provides for a gradual increase (the minimum wage level – ed.) and for future years. From 1 January 2018 the expected size of the minimal salary will amount to UAH 3723, in 2019 this amount will reach UAH 4173, and in 2020 – 4425 UAH. At the same time, the Cabinet of Ministers of Ukraine shall ensure a transparent system of payment of these salaries,” he said.
He also noted that in particular due to the increase in the minimum wage succeeded in reducing the level of shadow economy in Ukraine.
“I believe that the de-shadowing of wages must continue. The overall level of the shadow economy of Ukraine according to preliminary calculations in the first quarter of 2017 accounted for 37% of official GDP, which is 6 percentage points less than in I quarter of 2016. The government is continuing this positive trend,” he said.
We will remind, the Prime Minister V. Groysman stated that the pension reform introduces automatic indexation of pensions.
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