Ukraine’s Social Policy Minister Andrii Reva believes that about 40 percent of the Ukrainian economy works off the books, so its unshadowing at this stage could bring more income to the budget than rapid economic growth.
The Ukrainian government may increase the minimum wage up to 4,100 hryvnia (about $150) by the end of Q1 2018.
Ukraine’s Vice Prime Minister Pavlo Rozenko says that the next increase in the minimum wage is scheduled for 2018.
President of Ukraine Petro Poroshenko considers feasible the increase in minimum wage in Ukraine up to 4,100 hryvnia (about $152) in 2018.
Ukraine's Deputy Prime Minister Pavlo Rozenko announced that the state budget has topped its planned target by 42 billion hryvnia ($1.63 billion) over seven months of 2017.
Average salary in Ukraine will reach 7,000 hryvnia ($269 monthly). Next year, the minimum wages will go up as well.
The minimum wage and subsistence level for able-bodied persons went up by 150 hryvnia or 10.3 percent, up to 1,600 hryvnia (about $60) on Dec. 1.
The minimum wage of a teacher with the lowest occupational qualification will be 5,266 hryvnia ($202 monthly) starting from Jan. 1, 2017.
Hroisman said the salary increase will take the minimum monthly paycheck to the living wage level for the first time in Ukraine's independence.
Finance Ministry proposes to set a zero tax rate to the entire size of the minimum wage from January 1, 2016.
The Cabinet of Ministers of Ukraine is currently seeking opportunities to raise the minimum wage in the country.