You're reading: Finance Ministry offers to raise minimum wages in 2012 by 9.4%

Ukraine's Finance Ministry has offered to raise the minimum monthly wage in Ukraine in 2012 by 9.4%, according to Oleksandr Shnypko, the director of the ministry's social finance department.

"This is a subject for negotiations between the trade unions and employers’ associations. At the current stage we could discuss a figure of UAH 1,098.1 ($137.75 at the current forex rate). This is the minimum [monthly] wage. This is the figure which is accepted by the employers’ association," he said at a briefing on Tuesday.

Shnypko also said that the trade unions did not agree to such a proposed figure, considering it to be an underestimate, and that it could be adjusted following further talks.

He also said that the minimum monthly wage until the end of the current year is set at UAH 1,004 ($125.95) and its considerable increase would require the ministry to find additional sources to finance the corresponding budget outlays.