President of Ukraine Volodymyr Zelensky on Thursday will submit a bill to raise the minimum wage to UAH 5,000 this year to the Verkhovna Rada, Deputy Head of the President's Office Yulia Kovaliv has said.

"Today, the president will submit a bill, which provides for an increase in the minimum wage to UAH 5,000 from September 1, to the Verkhovna Rada. This is the first step to improve social and economic guarantees for Ukrainian employees," Kovaliv said at a briefing on Thursday.

She said that the parliament may consider the document at an extraordinary meeting in August.

"In accordance with the proposed changes to the budget, the main source for financing this increase in the minimum wage will be, first of all, savings on servicing the public debt," the deputy head of the President's Office said.

She recalled that the macroeconomic forecast approved by the government provides for a two-phase increase in the minimum wage in 2021 to UAH 6,000 and UAH 6,500.

"On this basis, the budget for 2021 will be planned, which, in accordance with the law, the government will submit to parliament before September 15 of this year," Kovaliv said.