Ukraine's government plans to raise minimum wage to UAH 5,000 from Sept 1 - Shmyhal

Ukrainian Prime Minister Denys Shmyhal said this at a government meeting on Wednesday, July 1, according to an Ukrinform correspondent.

"There are economic calculations for today, there are grounds, and raising the minimum wage has a positive effect on the economy of our country, so we plan to set the minimum wage at 5,000 hryvnias from September 1 this year," Shmyhal said.

He noted that the minimum wage would grow to UAH 6,000 from January 1, 2021, and to UAH 6,500 from July 1, 2021.

Shmyhal added that such growth amid declining imports "should ensure an increase in the consumption of domestic producers."

"It will have a positive effect on businesses, the budget, the country as a whole, and every citizen of Ukraine," he said.

Shmyhal added that the government plans to attract funds from foreign partners to help Ukrainian businesses.

The law on Ukraine's state budget for 2020 set the minimum wage for this year at UAH 4,723 (as of January 1).

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