Real wages in Ukraine may grow by 10% in 2020 – economy ministry
Wages in Ukraine have been growing for the fourth year in a row, the minister says. REUTERS
Ukrainian Minister of Economic Development, Trade and Agriculture Tymofiy Mylovanov says real wages in Ukraine in 2020 may grow by 10%. Read also Minimum wage up in Ukraine “Given the high business activity and demand on the labor market, we expect the growth rate of real wages will remain high in 2020 – about 10%,” he wrote on Facebook on December 31.
The minister added that wages in Ukraine had been growing for the fourth year in a row. In 2019, they grew by 9.6% from 2018. Mylovanov believes that those who have the required qualification for the industries with developing investment will benefit from this. The growth in wages will also reduce the migration of workers abroad.
Moreover, they will be returning to Ukraine with regard to certain sectors and regions where there is the greatest demand for such workers. As UNIAN reported earlier, the average nominal salary of a full-time employee rose by 16.6% in Ukraine in November 2019 year-over-year (y-o-y), to UAH 10,679, or US$451.
Ukrainian enterprises’ wage arrears before workers in November 2019 shrank by 6.3% from October 2019, to UAH 3.221 billion (US$136 million) as of December 1, 2019.
On December 27, Ukraine’s Cabinet of Ministers passed a bill on labor, which is designed to preserve and expand the social rights of employees, increase the number of legal jobs, provide equal opportunities for men and women, raise employees’ incomes, and harmonize Ukrainian legislation with the European one.