Page 24 - UKRRptOct22

Ukraine overtook Moldova and started to grow.
With at least a third of Ukraine’s business in limbo due to the ongoing military operations, average wages are likely to have fallen. However, Ukrstat has not released any fresh data on incomes since January.
In January the average wage in dollar terms was $521, up from $445 a year earlier. As bne IntelliNews reported, by 2021 Zelenskiy’s reforms had resulted in Ukraine rapidly closing the gap with Russia, where real incomes have been stagnating since 2014. In Russia the average wage in January was $727, only slightly up from $666 a year earlier.
Even if you assume that the nominal salaries have remained unchanged, the hryvnia has fallen from UAH28.4 on average in January to UAH37 as of the end of July after the NBU devalued the hryvnia by 25% on July 21.
That means January’s nominal salary dropped to $394 in dollar terms following the devaluation, assuming no hryvnia pay rises or decreases since the start of the year. (chart)
4.5.3 Retail sector dynamics
Retail Sales in Ukraine increased 18 percent in January of 2022 over the same
24 UKRAINE Country Report October 2022 www.intellinews.com