News agency 'Vchasno'

The Poverty Rate Has Declined in Ukraine — World Bank

The poverty rate has decreased by several percents in Ukraine.

The World Bank notes the decline of poverty in Ukraine. This is stated in the report of the World Bank «Europe and Central Asia Economic Update, Spring 2019: Financial Inclusion».

The bank estimated that the poverty rate fell to 4.0% in 2018 compared to 4.9% in 2017 and 6.4% in 2016.

The World Bank believes that a 22.2% increase in pensions in Ukraine in 2018, after four years of actual decline has contributed to a reduction in poverty.

Also, the study notes that real wages also increased in Ukraine in 2018 due to further increases in minimum wages and pressures from outward labor migration.