Salaries shrank in the first quarter of 2009 by 20% in real terms in Ukraine, potential presidential candidate and banker Serhiy Tihipko has said.
“The authorities have led the economy into deadlock, and it will be very difficult to escape it,” the politician said.
“And this is a very conservative estimate, as the Chamber of
Accounts operates information only about “white,” officially paid
salaries. In reality, the salary drop was at least 20%, taking into
account salaries in envelopes [unofficial salaries],” Tihipko said.
According to him, the Ukrainian crisis is a result of government
policy. The public’s purchasing capacity has been reduced by high
inflation and revenues cut, sales of enterprises are falling, employees
are working on a part time basis, and salaries are falling, Tihipko
said.
“Such a spiral only has one end – economic collapse,” he said.
