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UKRAINE Socio-Economic and Market Review 2018

HIGHLIGHTS

  • Ukraine's economy continued its gradual growth for the third year in a row after the crisis in 2014-2015. Ukraine's Gross Domestic Product accelerated to 3.3 percent compared to 2017, the highest rate since 2011.
  • Remittances to Ukraine in first nine months 2018 increased by 22.7 percent over the same period of pervious year, following an overall 23 percent growth rate in 2017.
  • Real salary in the country increased significantly during 2016-2018 reaching pre-crisis level of 2013. People with average salary in the country as of December 2018 could cover minimum costs of living for three persons, while people with minimum pension or minimum unemployment payment cannot cover more than half of the needs of one person.
  • Ukraine's economy is growing, but vulnerability and poverty rates remain high, especially in Donbas oblasts. The most vulnerable socio-demographic groups of people could be elderly people living alone or in couple, especially with minimum pension payment, as well as unemployed people, especially without breadwinner in the HH.
  • Consumer price inflation weakened to 9.8 percent in December 2018 year on year from 13.7 percent in December 2017, while food inflation fell down from 17.7 to 7.8 percent. The actual food basket costs in Ukraine reached the highest historical level of UAH 1043 in December 2018, which is 13 percent higher year on year.
  • People with average salary in 2018 could buy 9 WFP monitored food baskets, while person with average pension can buy 2.5 and with minimum pension only 1.5. Terms of Trade for average salary in 2018 surpassed 2014 level, while pension is 20-25 percent less.
Webspace(s): 
Organization(s): 
World Food Programme
Cluster(s)/Sector(s): 
Original Publication Date: 
28 Feb 2019
Document type: 
Analysis Report