Shadow salary fund in Ukraine estimated at 0.5 trillion UAH per year – Liubchenko

The First Deputy Prime Minister, Minister of Economy Oleksii Liubchenko, estimates the virtual wage fund in Ukraine at 0.5 trillion UAH per year.

Liubchenko said this at the Ukraine 30 forum. Labor Resources, reports the Ukrainian News Agency.

“The shadow wage fund is estimated at nearly 0.5 trillion UAH per year. It is money through which we can develop strategic projects, increase wages and pensions, social standards,” he said. he declared.

According to Liubchenko, in Ukraine today, one officially employed person supports two unemployed people.

“In 2020, according to the register of individual-taxpayers, 11.3 million Ukrainian citizens received an official salary, almost 11 (million) received no income, and we have more than 11 million pensioners whose amount of the pension depends on the law That is to say that we have to the detriment of an official worker two unemployed ”, declared the Deputy Prime Minister.

He stressed that all these categories of citizens benefit equally from public goods, medical care, education, subsidies and benefits.

Liubchenko also noted that the Ministry of Economy does not have precise data on the number of Ukrainians working abroad, according to experts, there are two to three million per year.

“How many of them are – young, active, educated, who create economic growth for our neighbors? Unfortunately, it is impossible to name the exact number of our citizens who did not end up in Ukraine. experts, it is two to three million stable per year. We are leaders in Europe, but leaders in terms of the number of people of working age who work abroad “, he declared.

Liubchenko noted that systemic imbalances and contradictions in the labor market have been highlighted by the coronavirus crisis.

According to him, it is an imbalance between demand and supply of labor, the inconsistency of the quality of education with the demands of employers, and the disparity in wages.

Liubchenko added that Ukraine and the whole world have been living in new realities for over a year now: digitization and a pandemic are the main factors now shaping new rules of the game in the labor market.

As the Ukrainian news agency reported earlier, the European Business Association had previously warned that an increase in the minimum wage during the crisis could lead to an increase in the number of wages “in envelopes”.

In May 2020, the National Bank noted that after the gradual lifting of quarantine restrictions, Ukrainians began to actively seek work abroad.

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