KIEV, Feb. 6 – The growth of Ukraine's unemployment rate could accelerate as a result of the country's doubling of its monthly minimum wage (to UAH3,200 from UAH1,600) at the beginning of the year, the National Bank of Ukraine warned.

"According to the NBU, growth of expenses on remuneration of labor, especially for small and medium businesses would result in a larger reduction of employment than it was predicted earlier," the central bank said in its inflation report.