Finance ministry sees no opportunity for reviewing upwards minimum wage to Hr 4,200

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The Finance Ministry of Ukraine does not see an opportunity for reviewing the size of minimum wage in Ukraine upwards to Hr 4,200, Deputy Finance Minister of Ukraine Serhiy Marchenko has said.

“Today, the operational data of the State Treasury for the first quarter of 2018 indicate that there is no possibility to raise the minimum wage. At the end of three months, the national budget received Hr 193.6 billion, which is 96.9 percent of the target for the first quarter of 2018 (Hr 199.7 billion) That is, the national budget has received Hr 6.1 billion less,” he said in an interview with

According to the deputy minister, if the minimum wage increased to Hr 4,200 per month from April, it would be necessary to expand the expenditures of the budget for a year by at least Hr 13 billion. At the same time, this amount does not take into account the expenses for raising the official salary of an employee, the tariff category and a single tariff system. With this in mind, the Ministry of Finance estimates the additional need for spending for the current year at Hr 30 billion.

Marchenko said that the tough monetary policy of the National Bank of Ukraine (NBU) influences the possibilities of the Finance Ministry.

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