President says average salary in Ukraine may grow to UAH 10,000 in Q1, 2019

President says average salary in Ukraine may grow to UAH 10,000 in Q1, 2019

Ukrainian President Petro Poroshenko has said he is confident that the average wage in Ukraine may grow to UAH 10,000 (about $350) in the first quarter of 2019.

He said this at a meeting with business representatives as part of his working visit to Ivano-Frankivsk region on Tuesday, December 4, the presidential press service reported.

"The head of state also emphasized the importance of reporting real salaries. According to him, in the first quarter of 2019, Ukraine has every chance of setting an average salary at UAH 10,000," the report says.

The president noted that such a pace of growth in salaries should be kept in order to win competition for labor.

He also said that it was necessary to increase wages and productivity within the country so that people did not go to work abroad.

"On the one hand, it is protection in terms of security. On the other hand, it is protection in terms of living standards. It is not only solvent demand, but also restoring justice. When they ask me what to do now when, as a result of the alleged opening of borders, a large number of Ukrainians go to work abroad, I always say that there are two ways out - to return to the USSR and establish the Iron Curtain, or to raise salaries along with labor productivity within the country," Poroshenko said.

At the same time, he noted the important role of business in developing a strategy for economic reform. He said that at first meetings with entrepreneurs there were complaints about problems with VAT refunds and there were talks about the need to reform the currency market and protect against unreasonable inspections.

At the same time, Poroshenko recalled that as a result, decisions were made to settle VAT refunds and the foreign currency market, and laws were adopted on the termination of unreasonable inspections, the so-called "stop masks-show" law.

According to the head of state, new initiatives are now being worked out on exit capital tax and the introduction of a financial investigations body.


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