Real disposable income rises 16.0% yoy in 5M08

The State Statistics Committee reported that Ukrainian’s real disposable income increased 16.0% yoy in 5M08, down from 17.7% yoy in 4M08. Nominal income was up 45.9% yoy in the first five months of the year, down from 46.5% yoy in 4M08. Polina Khomenko: The high pace at which real disposable income has been growing since the beginning of the year is starting to abate. The most significant incremental boost in social payments and wages took place in January and the main part of USSR Savings Bank compensations (66% as of mid-April) were paid out, so the effect of these drivers is now less noticeable. Though, if socially-oriented amendments, currently on the table, to the state’s 2008 budget are adopted, they would be an additional booster to disposable income growth.