Party of Regions to forgo their own law to up wages and pensions – Paskhaver

October21200919:14

PR-initiated law to raise pensions and wages is to be incorporated in the 2010 budget. Lawmakers themselves will cancel the law when they see that it puts the budget out of balance, a noted Ukrainian economist and head of the Center for Economic Development, Oleksandr Paskhaver told ZIK Oct. 21.

“The hypocrisy of the law initiators, the opposition and the president, lies in the fact that, on the one hand, they demand higher wages and pensions and, on the other hand, decry any budget deficit.

Paskhaver believes when the 2010 budget is approved by the Rada, it will be a balanced one. “Therefore, it is quite probable, that the new law will be cancelled. All the present fuss about the law is a trick by the opposition to demonstrate how they care about the people and then to forgo the bill in a quiet way,” the expert claims.

Therefore, the expert advises not cry wolf that the economy won’t stand the new law as the law won’t be implemented.

“The economy can stand every thing. The point is – what the damage will be done,” he added.

Comment by ZIK

On Oct. 20, Verkhovna Rada passed the 1^{st reading on the bill to raise a minimum wage from UAH699 to UAH922 in 2010.}

The law sets a monthly subsistence level at UAH710 as of Nov. 1, 2009, UAH825 as of Jan. 1, 2010, UAH839 as of Apr. 1, UAH843 as of July 1, UAH861 as of Oct. 1, and UAH875 as of Dec. 1. [One US dollar trades at UAH8.3]

The law also sets a minimum wage at UAH744 as of Nov. 1, 2009, UAH869 as of Jan. 1, 2010, UAH884 as of Apr. 1, UAH888 as of July 1, UAH907 as of Oct. 1 and UAH922 as of Dec. 1.