How quarantine affected the financial condition of Ukrainians

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In the third month of quarantine, the most common negative financial consequence of quarantine in Ukraine is a general decline in household income.

Photo: Finance.liga.net

With the onset of quarantine in Ukraine due to the epidemic of coronovirus Kovid-19, the issue of reducing the income of citizens and deteriorating financial situation immediately became an acute issue. According to official figures, the average salary as a whole decreased by 1000 UAH in March in Ukraine compared to March.

As the results of the next wave of All-Ukrainian survey Research and Branding GroupIn the third month of quarantine, the most widespread negative financial consequence of quarantine in Ukraine is the general decline in household income, which was noted by every other defendant (52%). In addition, difficulties related to timely payment of utility bills and other bills (10%), loss of financial assistance to relatives (4%), loss on investment made (2%), and payment for housing rent / mortgage. Difficulty in doing (1%))

At the same time, more than a quarter (27%) of Ukrainians did not feel the negative financial consequences of the current situation. By the way, compared to the middle of the second month of quarantine, the number of those who did not feel the negative financial consequences of the current situation has increased markedly.

Representatives of the old age category and rural residents often refer to the absence of negative financial consequences of the current situation; Urban residents and Ukrainians under the age of 50 refer to a decrease in income. It should also be noted that women, instead of men, face difficulties with the payment of rent / mortgage.

Despite a slight increase in the number of people not affected by financial problems due to quarantine, nearly half (48%) of Ukrainians today speak of complete lack of savings. Every tenth of them cannot last more than two weeks (10%) or four months (10%), another 13% – for one month, 9% – for two months, 6% – for three months.

Compared to the start of quarantine, the number of people who have no savings has increased significantly, while the number of enough savings for a month has been the lowest.

Compared with the onset of quarantine, women, older age representatives, and residents of southern and eastern regions often miss the absence of savings. But those who have savings over four months are relatively higher among men, middle-aged representatives, and residents of the Western region.

The survey was conducted from May 27 to June 2, 2020. A total of 1,005 respondents aged 18 and above were interviewed. The sample represents Ukraine’s population by gender, age, type of settlement, and region of residence. Survey method is CATI survey (telephone interview using computer).

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It was previously reported that banks are slowly ending. Today, 89% of branches and 97% of ATMs are functioning normally.

Read: Trade, Taxes and Migration: How Quarantine Changed Ukraine’s Economy


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