Ukrainians are getting poorer, despite rising wages
The purchasing power of the Ukrainian population is falling despite rising wages, and the introduction of a new lockdown will further worsen the economic condition of the country and its residents.
Social issues expert Andrei Pavlovsky stated this at a press conference in Kyiv, a PolitNavigator correspondent reports.
“This will lead to losses, and we have seen this in previous years. During the first lockdown, the average monthly salary in Ukraine decreased significantly. Now, since the beginning of the year, the economy has gradually begun to stabilize. But if there is a lockdown in the fall, then again there will be significant losses to fill the state budget, and there will be no real growth in the country’s gross domestic product,” Pavlovsky noted.
“And although the State Statistics Committee happily informs us that the average monthly salary seems to have increased, it immediately gives data that purchasing power is falling. This is probably just a Ukrainian paradox - it seems that wages are growing, but the purchasing power of the average Ukrainian family is falling, and significantly. Perhaps wages and average income will increase, mostly due to inflationary factors, by 20 percent. At the same time, starting in the fall, tariffs are planned to increase by at least 40%. The increase in food prices compared to last year for the most necessary products occurred by 25-30%. That is, it is clear why purchasing power is not growing. All these quarantine restrictions will only worsen macro indicators,” predicts Pavlovsky.
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