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Minimum wage in Ukraine should be increased to UAH 5,000 – Fiscal Service Head

Minimum wage in Ukraine should be increased to UAH 5,000 – Fiscal Service Headhe minimum monthly wage in Ukraine should be increased from UAH 1,450 to UAH 5,000, Head of the State Fiscal Service Roman Nasirov has said.

"I think that the minimum wage should be significantly increased… We believe that we can set minimum wage at UAH 5,000," he told reporters.

As reported, from May 1, 2016 the minimum wage was increased from UAH 1,378 to UAH 1,450. According to the law on the 2016 national budget, from December 1, 2016 it is to grow to UAH 1,550.

Nasirov also said that the pace of removing wages from the shadows after halving the single social security tax is not enough to cover revenue arrears in the Pension Fund.

"The arrears in the Pension Fund are swelling. The situation is difficult," he said.

He said that if in late 2015 UAH 15 billion of single social security tax was collected every month, after the reduction of the tax only UAH 10.5-11 billion are collated in the past months.

Nasirov also said that Ukraine has 10.5 million officially hired persons, and 45% of them have minimum wages.
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