The failure of our society to enhance the skills of a significant segment of our workforce has left a disproportionate share with lesser skills. The effect, of course, is to widen the wage gap between the skilled and the lesser skilled.
This will also help decrease production costs in Ukraine. Underlying inflationary pressures will also gradually ease, due to, among other things, the expected slower growth in wages next year, and the sustained effect of the monetary policy tightening by the NBU. What were the other considerations behind today’s decision?