The government has issued a three-year forecast of Ukraine’s economic and social development: What will happen to GDP, inflation, and salaries?

Next year, GDP will grow by 4.6%, in 2025, the growth rate will accelerate to 6.8%, and in 2026, it will slow to 6.6%. The growth of consumer prices (inflation), comparing December to December of the previous year, is expected to be at the level of 9.7% in 2024, 8.1% in 2025, and 6.9% in 2026, according to the main forecast of macro indicators that was approved by the Cabinet of Ministers of economic and social development of Ukraine for 2024-2026.

At the same time, in 2024, the average gross monthly salary of employees (before taxes) will be ₴21,809 ($596), in 2025 – ₴25,732 ($703), and in 2026 – ₴30,260 ($826).

Legislation establishing the State Budget for 2024 increases the minimum wage beginning January 1 to ₴7,100 ($194) and from April 1 to ₴8,000 ($219). As of the end of 2023, the figure is ₴6,700. The average salary will also increase next year. By the end of the current year, the indicator in nominal terms will be ₴18,527 ($506).