This year, the minimum wage will increase by UAH 500, an increase is also expected next year. This was announced by Prime Minister Denys Shmyhal during a media conference on September 14.
The Head of Government noted that last year the minimum wage had almost doubled. At the same time, according to him, it is critical to preserve the balance in order to avoid the negative impact of inflation and not to create a burden on business.
"The increase in the minimum wage has a greater impact on the budget sphere. But it also creates an additional burden on businesses that pay salaries transparently. Therefore, it is important to choose the right moment to up the minimum wage so that it gives results," said Denys Shmyhal.
The Prime Minister stressed that such a result is currently being observed: "First, the state budget revenues are increasing. Due to the receipt of SSC, the pension fund is balanced. Certain companies have started paying by 70% more income tax, in fact at the same level of income. This means that they get to work into a transparent environment," the Prime Minister stressed.
In addition, Denys Shmyhal noted that the Government, together with the relevant committees of the Verkhovna Rada, is now looking for the best option for reforming the subsistence level in Ukraine and increasing the minimum wage.