: :inin Kyiv (EET)

Ukraine Cabinet approves draft budget for 2017 with raised minimum wage

The Cabinet of Ministers of Ukraine at its extraordinary meeting Thursday, November 3, approved the draft state budget for 2017, without any changes to the macro indicators, to be tabled in Parliament for its second reading.

Macroeconomic indicators of the draft budget had been approved in June. They provide for GDP growth in 2017 at 3-4%, inflation at 8.1%, the unemployment rate of 8.6%, the forecast level of government debt at 66.8% of GDP, and the hryvnia exchange rate at UAH 27.2 per U.S. dollar.

The key change to the draft budget is the increase in the minimum wage from January 1, 2017 up to UAH 3,200.

At the same time, the Cabinet has approved a number of related draft laws and also forwarded them to the Parliament consideration.


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