IMF: Nominal wage growth in Ukraine poses inflation risks

IMF: Nominal wage growth in Ukraine poses inflation risks

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Ukrinform
The International Monetary Fund believes that the nominal wage growth in Ukraine poses inflation risks.

This is stated in the Regional Economic Outlook for Europe of the International Monetary Fund.

"In Ukraine, nominal wage growth has averaged 35 percent in 2017— reflecting a doubling of the minimum wage and very strong growth in public sector wages, which has triggered large increases in unit labor costs and poses a risk of second-round effects on inflation," the report reads.

As reported, the National Bank of Ukraine expected the inflation rate to drop to 12.2% by the end of 2017.

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