Society, Economics

 Social Policy Minister says real earnings of population grew by 19.1 percent over year

Wages and pensions of Ukrainians continue increasing with price growth easing.

This was said by Minister of Social Policy of Ukraine Andrii Reva on air of 112 Ukraine TV channel Censor.NET reports.

"There is a 37 percent increase in wages compared to the last year. That is, in 2017 wages increased by 37 percent compared to 2016," he said.

The minister stressed that not only the nominal wages, but the real ones grew.

"Setting aside inflation index, statistics show that the real earnings of the population grew by 19.1 percent. This is not as much as we would like it to be, but this happened the first time in three years. That is, if this trend continues for several more years, the people will start feeling that the situation is changing for the better. In the first five months, I'm talking about real wages, not nominal one - the nominal one rose by 31 percent in five months - and as for the real one, [it increased] by almost 11 percent," Reva said.

"The pensions grew as well - the Pension Fund revenue increased by almost 50 billion hryvnia due to the increase in salaries. Average pension in Ukraine increased by 37 percent," he said.

At the same time, the price growth rate decreased. The minister expressed hope that the prices have reached their high taking into account the lack of government interference.

"And if we continue pursuing a policy of outstripping growth of wages and pensions, the gap between the rate of price growth and increase in wages and pensions will be considerable and people's welfare will begin to improve," Reva summed up.

Источник: https://censor.net.ua/en/n3072636