In Ukraine, during the war, the prices of food, fuel, and services rose dramatically. The cost of some items has increased by 50%.
The poverty rate in Ukraine increased from 5.5% to 24.2% in 2022, leaving 7.1 million people below the poverty line. This is related to the report of the World Bank on Sunday, April 30, wrote the British newspaper The Guardian.
It was noted that there is a large gap between the city and the countryside and the most visible consequences of poverty are in the rural areas.
“With unemployment unofficially at 36% and inflation hitting 26.6% by the end of 2022, more Ukrainians may fall below the poverty line in the future,” said Arup Banerjee, the institute’s regional director from Eastern Europe. .
According to the newspaper, food, fuel, and services have risen sharply in price in Ukraine. The cost of some items has increased by 50%.
Economist Elena Bilan told reporters that without a large package of financial support from the international community, the situation would be even worse.
“We see a 30% drop in GDP mainly because Ukraine exports 80% of its goods through ports it no longer has access to. We have had inflation of 26% – again, that could be worse – but people’s salaries remained unchanged, and the currency fell by 20% against the dollar,” he said.
The expert added, the biggest problem in this situation is the issue of people’s work.
Earlier it was reported that the consumer sentiment index in Ukraine in February increased by 2.7 points and reached 86.5 points. In addition, indices of the usefulness to make large purchases, expected changes in the financial situation and expected economic development have increased.
Ukraine’s GDP may grow more than forecast
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.