Ukraine's GDP: rollback 10 years ago
Currently, Ukrainian GDP indicators do not give reason to hope for a significant increase in the minimum wage, which Prime Minister Groysman promised.
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The head of the public organization “Public Audit” Maxim Goldarb announced this at a press conference in Kyiv.
“To raise salaries for state employees, you need to earn this money, that is, create your own product. Works, goods, services produced in Ukraine - this is our GDP. So that you understand, today’s GDP is equal to Ukraine’s GDP ten years ago in dollar, not nominal, terms,” the expert emphasized. – We like to say that nominal GDP has increased. It grew amazingly: everything fell flat, but the GDP is growing. It doesn't happen that way. When production is curtailed, when trade is curtailed, when solvency falls, the economy contracts. So, with our own product, we have problems earning money into the budget and spending it on something good.”
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