Ukraine’s economy is showing resilience, despite the war, and one of the key factors in this is rising wages. According to inflationary according to the report of the National Bank of Ukraine, the lack of personnel stimulates salary growth for the second year in a row.
Businesses are forced to offer higher wages to attract and retain skilled workers. Real wages are expected to surpass pre-war levels as early as 2025. The unemployment rate is forecast at 14.2% in 2024 and 10-12% in 2025-2026. The minimum wage increase of 6% from January and almost 13% from April 2024 also affects the overall income level.
Forecasts for 2025-2026:
Minimum salary:
- UAH 8,370/month from January 1, 2025.
- UAH 8,956/month from January 1, 2026.
Cost of living:
- UAH 3,183/month per person in 2025.
- UAH 3,431/month per person in 2026.
- Rising wages are driving consumer demand, which is expected to grow by 5-9% annually.
In general, the forecast for 2024-2026 is positive: wages are expected to rise, the unemployment rate will decrease, and the economy will recover.
