The national Bank released a forecast on the growth of salaries of Ukrainians and overall inflation in the country until 2021, which the citizens had prepared the disappointing news
It is reported that the growth rate of salaries of Ukrainians will decrease compared with 2018 year until the return to the level of 9%, but experts believe that the real wage growth could fall to 4%.
“The negative contribution of the labor force will remain a deterrent to the growth of potential GDP in the forecast horizon. This is due to the shortage of skilled workers, especially workers professions together with a natural decline in the population. At the same time, the negative contribution of the labor force will be less than in previous years”, — stated in the report of the NBU.
At the same time, the unemployment rate is forecast at about 8.7%. A fairly high level of unemployment explain such natural causes as the compliance of employers with qualifications Ukrainian workers and migration processes.
“The slowdown in migration processes (incl. due to the gradual saturation of the labor market of Poland on the background of a cooling economy in the EU) and the correction of the imbalances in the labour market will gradually reduce the pressure to increase wages” — calm in the Department.
At the same time, as noted in the NBU, the fall in the rate of growth of salaries of Ukrainians may not like it by the citizens, but will benefit the country. Because such conditions will help to more rapidly develop the economy and of Ukrainian origin, however, will not create pressure on inflation, as it usually happens with the growth of incomes.
In addition, due to migration processes, the level of salaries of inhabitants of Ukraine and neighboring countries began to improve, which also indicates the economic development of the country.
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