• 23/07/2024 23:59

Why in March pensions were indexed by 8%, although 13% were discussed: the Ministry of Social Policy explained

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Starting March, millions of pensioners will receive increased pensions. However, Ukrainians expected the previously announced increase in payments by 13%.

This information was reported to the Ministry of Social Policy, URA-Inform reports.

The Ministry of Social Policy explained how indexation calculations are carried out. In particular, the Department noted that the indexation amount is calculated according to a formula defined by law, taking into account two indicators:

— inflation for the previous year;

— growth in average wages over the past three years.

The Ministry of Social Policy explains that in August 2023, when work was underway on the state budget for 2024, they took into account the forecast inflation rate of 14.7%.

< p>However, the economy showed better performance and therefore the indexation was calculated taking into account the final official values:

— inflation 5.1%;

— an increase in average wages for 2021–2023 by 10.81%.

Consequently, due to these indicators, the indexation amount has been changed and is now 8%.

“Despite the fact that increasing pensions will cost the state budget three billion hryvnia per month, the state has money for such payments,” assured the Minister of Social Policy of Ukraine Oksana Zholnovych.

We recall that it was previously reported that in Ukraine they are thinking about “giving up” the dollar: what currency can the hryvnia exchange rate be calculated by?

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