IMF asks to freeze the minimum wage for three years, which will increase the deficit of the Pension Fund, – Reva

Andriy Reva, archive photo

The Memorandum of the international monetary Fund provides for the freezing of minimum wage for three years, however, this may cause the deficit of the Pension Fund. This was stated by Minister of social policy Andrei Reva in an interview with Realist.

“If we raise the minimum pension by 10%, we at least 15% should increase the minimum wage. What we read in the draft Memorandum? Wage freeze for three years. What does it mean? That the minimum pension will grow, and the contribution to the Pension Fund will fall. Once again we are going to increase the deficit of the PF, for which we are abusing the IMF. Guys, explain to me this phenomenon that I realized. But the answer is no,” said Reva.

As reported, from January 1, 2017 the minimum wage in Ukraine amounted to UAH 3200. The national Bank said that due to the increase in the minimum wage, inflation is expected at 9.1% in 2017 .

Related news: In 2017 the deficit of the Pension Fund will be allocated 71 billion UAH

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