Currently the minimum wage in Ukraine is 4,723 hryvnia (USD 177) per month, but according to a new proposal by President Vladimir Zelensky in 1 year it should reach the level of 6,500 UAH (USD 244).
Average monthly wage in Ukraine in the first quarter of 2020 was USD 440.
Proposed raises of the minimum wage in Ukraine in 2020-2021
According to press service of the Office of the President of Ukraine, there is a plan to raise the level of minimum monthly wage in the near future to the level of 6,500 UAH from the current level of 4,723 UAH.
- For that, the next raise should occur on 1 September 2020 (up to the level of 5,000 UAH).
- On 1 January 2021 this should be raised to 6,000 UAH.
- On 1 July 2021 the next raise comes into effect, bringing the lowest monthly pay check to 6,500 UAH (about USD 244 as per today’s exchange rate).
The amount may seem low, but only a few years ago the minimum wage in Ukraine was only USD 50. It is now 3.5 times higher.
At the same time, the exchange rate of the US Dollar to Ukrainian hryvnia remained stable. The previous giant drop of the exchange rate followed 2014 takeover of Crimea by Russia and the start of the armed conflict with separatists in the East of the country.
In some countries of the former Soviet Union people earn much lower salaries than Ukrainians. For instance, in Tajikistan the average salary is only $135 per month, while in Uzbekistan workers earn $270 and in Kyrgyzstan $245 (1 quarter 2020 data).
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