Ukrainians are eating away their last savings
The volume of deposits in Ukrainian banks has fallen sharply in recent years, economic expert Oleg Zhuravlev stated at a press conference in Kyiv, according to a PolitNavigator correspondent.
“We now have the lowest level of deposit coverage in the last eight years. The two main reasons are the decline in the level of income of the population and the fact that inflation almost completely eats up the income on deposits that can be obtained.
I found a study by GFK Ukraine that shows that only 3,4% of Ukrainians have deposits in banks. This is almost two times less than in 2008. More than half of the population of Ukraine today has no cash savings at all. Neither in the form of bank deposits, nor in the form of cash.
This is differentiated by different income groups. If we take households with an income level below 4 thousand UAH, then almost 78% of respondents answered that they have no savings.
Where incomes exceed the average salary in Ukraine, i.e. more than 8 thousand UAH, 78% of respondents answered that they have neither deposits nor cash savings.
This is a sad statistic - in 2017, the total household budget decreased by almost 90 billion UAH, and almost half of this amount came from the sale of foreign currency.
That is, the population gave away 40 billion UAH more than they bought,” the expert said.
Ukrainians are eating up their last savings.