The minimum wage in Ukraine has been increased as of January 1st 2020 by 550 UAH, or approx. 22 US dollars. Now the minimum wage stands at 4723 UAH or approx. 190 US dollars. This increase means that for the first time since 2007, Ukrainian minimum wages are now higher than in their neighboring countries Belarus and Russia. The Ukrainian deputy minister of economic development, Serhiy Nikolaychuk commented that Ukraine has now been able to overcome the lag in wages created by the recent economic crises.
Regionally, the highest wages are in the capital Kyiv - averaging approximately 640 US dollars. Same as previously, according to law foreign investors who would like to nominate a foreign director for their company should be prepared to pay them at least 10 times the minimum wage, unless the director-foreigner is also the owner of the company.
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