How much did Ukrainians' salaries increase in 2023?
The State Statistics Service has released a report on the nominal salary of Ukrainians in 2023. Find out what forecasts the NBU and the government are making and where Ukrainians are currently paid the most
According to official data from the State Statistics Service, the nominal salary of Ukrainians increased by a quarter in 2023. Thus, the average salary in the second quarter of 2023 amounted to UAH 17,176, which is 25.2% more than in the same period of 2022.
What are the government and the National Bank of Ukraine's forecasts for the next year and where the highest salaries are paid now - we will tell you further in the article.
Where are the highest salaries in Ukraine?
According to the State Statistics Service, the highest salary for full-time employees in 2023 was in the Information and Telecommunications sector - UAH 36,604, which is 30.1% more than last year.
The second place is taken by Financial and Insurance Activities, where the average salary of an employee is UAH 32,801, which is 34.7% more than last year.
The third place is occupied by Professional, scientific and technical activities - UAH 22,871, which is 21.4% more.
How salaries have changed in other industries:
● Public administration and defense; compulsory social insurance - UAH 21,929 (13.3%);
● Wholesale and retail trade; repair of motor vehicles - UAH 20,662 (69.9%)
● Industry - UAH 17,866 (16.2%);
● Other services - UAH 17,576 (39.8%);
● Transportation, warehousing, postal and courier activities - UAH 16,225 (33.6%);
● Real estate transactions - UAH 15,644 (51.3%);
● Agriculture, forestry and fishing - UAH 14,791 (14.9%);
● Health care and social assistance - UAH 14,565 (9.2%);
● Administrative and support services - UAH 13,984 (21.4%);
● Arts, sports, entertainment and recreation - UAH 13,856 (41.4%);
● Education - UAH 13,026 (9.4%);
● Temporary accommodation and catering - UAH 12,221 (51.5%);
● Construction - UAH 11,837 (39.9%).
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What salaries will be in 2024: NBU and government forecasts
In the draft state budget for 2024 for the second reading, the Cabinet of Ministers improved its forecasts for the growth of nominal wages of Ukrainians. Thus, according to the government, in 2024, the level of average nominal wages will be UAH 21,809, and inflation-adjusted wages will grow by 8.5% (previously expected to grow by 6.0%).
At the same time, the NBU predicts that the average nominal salary of Ukrainians in 2024 will grow by 15.8%, and the real (inflation-adjusted) salary by 6.9%.
We remind you! As of October 2023, the residential rental market in Ukraine continues to show some important changes and trends. In particular, there has been a significant rise in rental prices in some regions. Read more about the volume of apartment rental offers in Ukraine and the current price dynamics.
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