Next year, basic social standards in Ukraine will increase by 12%

Next year, basic social standards in Ukraine will increase by 12%.

This is stated in the draft Law on state budget for 2016 developed based on the Ministry of Finance tax reform.

In particular, the draft budget for 2016 envisages a gradual increase ofthe minimum wage in 2016. It is proposed to set it from January 1 at 1,378 UAH, from May 1 – at 1,450 UAH (+5.2%), from December 1 – at 1,550 UAH (+6.9%).

The cost of living will amount to an average per one person from January 1 – 1,330 UAH, from May 1 – 1,399 UAH (+5.2%), from December 1 – 1,496 UAH (+6.9%).

Thus, in general, the increase the cost of living and the minimum wage in 2016 will increase by 12.1%.

Ekonomichna Pravda