One-Third of Ukrainians to Live Under Poverty Line by Year End

The poverty rate in Ukraine is expected to reach 32 percent in 2015, a joint study conducted by the UN under its Millennium Development Goals (MDGs), Ptoukha Institute for Demography and Social Studies of the National Academy of Sciences in Kiev and Ukraine's Ministry of Economic Development.

For a long time the number of people living below the poverty line in Ukraine was gradually decreasing. However, due to the conflict in the eastern part of the country this number is expected to increase again.

The war in Donbass brought the Ukrainian economy to its knees. A significant part of the population became poorer due to soaring inflation and loss of jobs caused by the war, the study said.

Families with children are the most vulnerable group, making up the largest and the poorest segment of the society. One third of households with children currently live below the poverty line. Every child increases the chance of a household being poor by 17 percent; 42 percent of families with three or more children live below the poverty line, according to the study.

Fitch Ratings Inc. predicted that the hryvnia, Ukraine's currency, will devalue by 97 percent compared to 2014.

Meanwhile, the World Bank predicted that the Ukrainian economy will shrink by almost 8 percent in 2015.