Business news from Ukraine

Most citizens do not have bank deposits or have significantly reduced them over past year – survey

The survey, conducted by Active Group in cooperation with the Experts Club think tank, revealed citizens’ attitudes to various aspects of social and economic life in Ukraine, including the initiative to refund part of the cost of Ukrainian goods, the government’s influence on business, the level of trust in law enforcement, financial stability of citizens, and forecasts for the hryvnia exchange rate.

A significant proportion of respondents (44%) have heard of the initiative to refund the cost of purchasing Ukrainian goods, with opinions divided on its impact on living standards. Most respondents believe that the government will increase taxes to finance this initiative.

According to Andriy Yeremenko, founder of the sociological research company Active Group, this raises concerns among the population, as most are not ready for an increase in the fiscal burden.

The study also revealed a deep distrust of government institutions (57% of citizens) and law enforcement agencies (62%) in the context of relations with business, in particular due to the lack of transparency and efficiency of their work. The majority of respondents believe that the state hinders rather than helps business to develop, and this trend has increased compared to previous months.

A significant number of Ukrainians (up to 60%) are experiencing financial difficulties, including increased debt and lack of savings for a rainy day. Respondents also expressed concern about the future of the hryvnia exchange rate, with the majority (55%) expecting it to fall.

In the context of utility bills, the vast majority (67%) of respondents believe that the level of tariffs is too high, which further emphasizes the general dissatisfaction with the financial situation and government policy in this area.

According to Oleksandr Poznyi, Director of Active Group, these results demonstrate the serious challenges faced by Ukrainian society in the context of the war and the current economic situation.

Earlier, Maksym Urakin, the founder of the Experts Club think tank, noted that in 2024 Ukraine’s public debt may exceed GDP for the first time, which poses significant risks to economic stability in the country.

For more details, please see the video at the link:

https://www.youtube.com/watch?v=8hkvHhyzGLQ

You can subscribe to the Experts Club channel here:

https://www.youtube.com/@ExpertsClub

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