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A twofold increase of the minimum wage shall provide an additional GDP growth by 0.5%, says Volodymyr Groysman
10.02.2017 | 13:29

The Government expects the twofold increase of the minimum wage will ensure an additional 0.5% GDP growth. This was stated by Prime Minister of Ukraine Volodymyr Groysman at a press point in Brussels.

"It [increased minimum wage] will definitely affect positively the economy and ensure fairness principle in remuneration of labour. We predict that only from this decision, we will have an additional 0.5% of GDP growth", opined Volodymyr Groysman.

The Head of Government noted that the National Bank of Ukraine forecast inflation in 2017 in the range of 7-9%. It would have no impact on the development of the national economy, he said.

 "We will be witnesses to the fact that real wages grow in the country, the minimum wage is paid at the appropriate level. We will reduce the Pension Fund deficit that can be the beginning of the creation in Ukraine of a fair pension system. We expect this decision to have a great impact on the national economy", he stressed.

Moreover, the Prime Minister noted that Ukraine sees a growing trend in the employment rate. "This is due to the fact that in the fourth quarter of 2016 we improved our performance in the economy. We forecast further economic growth in 2017", said Volodymyr Groysman.


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