The increase in wages brought out of the shadows 212 billion hryvnia – Ministry of social policy

Due to the increase in the minimum wage doubled to 3.2 thousand UAH from 1 January 2017 from the shadows managed to get 212 billion. Increased contributions to the state budget, Pension Fund.

This was said by Minister of social policy Andrei Reva.

“In the first five months of this year, the wage Fund in Ukraine grew by 37%, that is, was the increase in average wages. Last year we planned that at the present average wage will reach UAH 6300, however, in April it was $ 6,700 USD. The government revised forecast figures for 2017 and calculated that at the end of the year, the average wage will not 6500, and 7104 of the hryvnia,” – said Reva.

It was planned that the payroll will increase by 88 billion UAH and will amount to 666 billion in 2017. But the performance improved and now it is expected that the wage Fund will grow by 130 billion UAH – up to 796 billion.

“The money was in the economy, but hiding in the shadows. Law number 17741, which is also called the 3200 (UAH) helped to clear up 212 billion. And if last year the Pension Fund received subsidies of UAH 145 billion and revenue of 112 billion, then the – 141 – billion subsidy and 142 billion hryvnia – own revenues. Exceeding $ 20 billion. In fact, we get no 142, and 162 billion. To date, of the 20 billion we are already five months received 14 billion. If extrapolated to the second half of the year, when traditionally, rising wages, this indicates that we freely reach the necessary numbers,” – said Minister of social policy.

So thanks to the increase of salaries and deductions from them, and will increase pensions from 1 October.