Ukraine is Europe’s poorest nation with $220 average monthly wage
The latest research shows the people of Ukraine have the worst living standards among all of Europe.
An average Ukrainian earns just €190 per month, or just a little over $220, according to the study by Texty.org.ua. The highest average net salary, according to the analysts, is in Switzerland. An average Swiss earns no less than $5,000 per month after taxes.
© Valentyn Ogirenko / Reuters
In November, Ukrainian Economy Minister Stepan Kubiv admitted the economy lost $15 billion annually after Russia closed its borders to consumer goods from Ukraine, almost a fifth of the country’s GDP.
The current gross domestic product of Ukraine is $93 billion. Before the Maidan revolution at the end of 2013, Ukraine’s GDP was $183 billion.
In 2016, the free trade zone between Ukraine and Russia ceased to operate within the CIS trade block. In addition, both countries imposed embargos on the import of some consumer goods. At the moment, Kiev has a free trade zone with the European Union.
Starting this Monday, Russian Railroads have begun routing long-distance train service around Ukraine. The railroad link was finished in August and has only been used by freight trains until now. The new 137 kilometers stretch runs entirely within Russian territory in the Voronezh and Rostov regions and is set to ensure the security of freight and passenger traffic. Direct flights between Russia and Ukraine have been halted since fall 2017.
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