The National Bank of Ukraine predicts that in 2024 real wages, given inflation, will increase by 14% and will exceed the pre -war level. The main factor contributing to the increase of salaries is increasing competition for workers in the labor market, which now faces staff shortages.
The National Bank noted that the high rates of growth of nominal salaries were stored in the third quarter of 2024 (July-September), but the increase in inflation pressure led to a certain slowdown in real wage growth. Despite this, the pace remains quite high, which has a positive effect on the purchasing power of the population.
It is expected that at the end of 2024 real salaries will exceed the pre -war level and continue to increase. The National Bank is convinced that significant competition for employers for qualified labor, together with a soft fiscal policy, will further increase consumer demand, which will become an important factor for economic recovery.
