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Ukraine recognized as poorest country in Europe in 2019, study reveals

Ukraine takes last place in a 42-member list with a per capita purchasing power of 1.830 euros

Kiev, Ukraine AP Photo/Alexander Zemlianichenko

Kiev, Ukraine

© AP Photo/Alexander Zemlianichenko

KIEV, October 23. /TASS/. Ukraine has been placed last in a list of countries by purchasing power among the 42 countries in Europe, a study carried out by the GfK (Growth from Knowledge) company among European states for 2019 suggests.

"Sixteen of the countries considered by the study have above-average per capita purchasing power, while twenty-six fall below the European average. Ukraine takes last place with a per capita purchasing power of 1.830 euros," the study results show.

Meanwhile, the study demonstrates that Europeans on average have 14.739 euros per person to spend and save in 2019. Liechtenstein tops the 2019 list, showing a per capita purchasing power of 67.550 euros. "This far exceeds the values of the other countries and is more than 4.5 times the European average," the study underlines. Switzerland comes second (42.067 euros), while Luxembourg closes out the top three (35.096 euros). The company’s study put Moldova, Kosovo and Ukraine last in the list.

The company explained its findings and methods of research in the following way, "purchasing power is a measure of disposable income after the deduction of taxes and charitable contributions and including any received state benefits. The study indicates per-person, per-year purchasing power levels in euros and as an index. GfK Purchasing Power is based on the population's nominal disposable income, which means values are not adjusted for inflation. Calculations are carried out on the basis of reported income and earnings, statistics on government benefits as well as economic forecasts provided by economic institutes.".

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