Ukraine's PM calls benefits of raising minimum wage.

At the same time raising the minimum wage will not significantly affect inflation and rising unemployment.

Photo from UNIAN

Photo from UNIAN

Ukrainian Prime Minister Denys Shmyhal says the growth of the minimum wage will stimulate consumer demand for Ukrainian products and help bring wages to a real subsistence minimum.

Read alsoUkraine will need US$22 bln in 2021 to repay and service its sovereign debt

At the same time, as he wrote on Facebook, raising the minimum wage will not significantly affect inflation and rising unemployment.

Earlier, Shmyhal announced a preliminary schedule for raising the minimum wage: to UAH 5,000 (US$184) (+UAH 277 (US$10)) from September 1, 2020, to UAH 6,000 (US$221) from January 1, and to UAH 6,500 (US$239) from July 1, 2021.

The law on the 2020 state budget established a minimum wage of UAH 4,723 (US$174).

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