How will raising the minimum wage on inflation in Ukraine: the NBU said

Как повлияет повышение минимальной зарплаты на инфляцию в Украине: в НБУ поделились прогнозом

The NBU reported that the sharp increase in wages may affect macroeconomic indicators and inflation in General. This was told by Deputy Chairman of the national Bank Dmitry Sologub.

During the briefing Sologub noted that if there is a fairly substantial increase in the minimum wage, it will have an impact on unemployment and on inflation and on the macroeconomic indicators and budget figures.

He stressed that at the moment without an increase in wage inflation will hold in the current range.

Earlier it was reported that in Ukraine the minimum wage is planned to increase from September up to 5 000 UAH, and from 1 January 2021 — up to 6 000 UAH, and from 1 July 2021 — up to 6 500 UAH.

Smegal: Ukraine has signed a loan agreement with the EU at €1.2 billion

As reported, the NBU revised the forecast decline in real GDP this year from 5 to 6% in Ukraine. This was reported on the website of the national Bank.