Real disposable income in Ukraine grew 13.7% yoy in 7M08

According to the State Statistics Committee, Ukrainians’ real disposable income rose 13.7% yoy, while nominal personal income added 43.9% yoy in 7M08. Polina Khomenko: As we expected, growth in real household income is decelerating further from its high in January. The only significant rise in social payments until the end of the year will be a 77% increase in scholarships from September 1. This will, however, only have a negligible impact on the total nominal income, and will not contribute to growth in inflation. We stick to our forecast of 12.5% yoy growth in real disposable income in 2008.