: :inin Kyiv (EET)

Ukraine`s draft budget assumes minimum wage at UAH 3,200, additional costs at UAH 28 bln

Ukraine`s draft state budget for 2017, submitted by the Cabinet of Ministers to the Parliament for a second reading on Wednesday, assumes a twofold increase from January 1 of the minimum wage to UAH 3,200.

”To set in 2017 the minimum wage: a monthly amount: from January 1 – UAH 3,200, an hourly rate: from January 1 – UAH 19.34,” reads the updated draft, published on the parliament website.

According to the explanatory note to the document, for this purpose, the additional costs in the amount of approximately UAH 28.3 billion are provided, which will ensure the payment of increased salaries to public sector employees.

The government plans to provide additional revenues by increasing deductions from profits of the National Bank of Ukraine by UAH 4 billion, dividends – by UAH 1.6 billion, and tax revenues as a result of de-shadowing wages – by UAH 9.4 billion to the state budget and by UAH 10.9 billion to the local budgets.

As UNIAN reported earlier, the Cabinet of Ministers tabled in the Verkhovna Rada amended state budget 2017, setting increase of revenues, expenses by UAH 15 billion

According to the draft published on the parliamentary website, the state budget revenues are set at UAH 721.4 billion, which is 15.1 billion more than in the previous draft.

Expenditures in the updated project are laid at UAH 790.4 billion, which is also UAH 15.1 billion more than the previous figure. The deficit ceiling remains at UAH 77.5 billion. As in the previous draft, the limit of the country`s public debt as of December 31 2017 is set at UAH 1.717 trillion, and publicly guaranteed debt – at UAH 579.4 billion, which totals UAH 2.296 trillion.

The Rada adopted the draft budget for 2017 in the first reading on October 20. The main indicators were calculated based on the macroeconomic outlook, forecasting real GDP growth at 3%, growth of nominal GDP up to UAH 2.585 trillion, and consumer inflation at the end the year at 8.1%.


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