What happened? Nominal salaries of Ukrainians will decrease by 12% in 2022, and in real terms, taking into account inflation, by 27%.
Source. The inflation report of the National Bank of Ukraine for July 2022.
Details. The National Bank of Ukraine predicts that nominal salaries will further grow rapidly and will exceed the pre-war level as early as 2023. However, taking into account inflationary processes, even at the end of 2024 real salaries will still be lower than the pre-war level.
The survey of the National Bank proves that some enterprises tried to pay salaries, and some of them made additional payments or provided financial assistance, even in case of shutdown of the enterprise itself.
However, with the continuation of hostilities, companies dismiss staff more often and are mostly unable to pay pre-war salaries.
Large companies, especially international ones, are dominated by those that paid full salaries. However, even such companies optimise personnel expenses.
According to various surveys, the drop in salaries in the private sector in May was 25-50% compared to pre-war times. In the budget sector, the loss of the population's income from work was partially compensated by social benefits, increased pensions and a significant increase in payments to the military.
Previously. Mind reported that half of the working people received salaries lower than before the war – the salaries had decreased by 10% or more, 39% of Ukrainian citizens had lost their jobs since the beginning of the russian invasion of Ukraine.