Oligarch Poroshenko’s personal wealth jumps to $1.3 billion. 80% of Ukrainians now live below poverty line

Here is what happens when the US / EU bring their “democratic values” and “anti-corruption” dogma to a country. Welcome to the western “exceptional” side of life people of Ukraine.

Ukraine President and uber-rich Oligarch Petro Poroshenko (via Sputnik News Agency)…

According to public data, Poroshenko’s 2013 income of 52 million hryvnia (approximately $6.3 million) skyrocketed to 369 million hryvnia (over $17 million) in twelve months. The income has largely come from selling securities, dividends, interest and real estate.

The Ukrainian president, dubbed the Chocolate King for owning a major sweets company, is estimated to be one of the wealthiest people in the country. His massive business empire also includes banking, agriculture, energy, auto and shipbuilding, as well as mass media.

The Roshen Confectionery Corporation is the crown jewel of Poroshenko’s assets, which the politician promised to sell should he win the 2014 presidential election. The company is one of the largest confectionery corporations globally, with the Candy Industry Top 100 pacing it 18th three years ago.

Poroshenko secured 54.7 percent of the vote grabbing the victory in the first round held on May 25, 2014. One year on he still controls the majority of his assets, including Roshen. Hence, the impressive income.

Keep in mind that state officials are prohibited from owning a business under Ukraine’s constitution.

Meanwhile, Roshen continues to thrive unlike the ever fragile national economy. In 2014, Roshen’s profits increased nine-fold, while Ukrainia’s GDP fell 15 percent, not to mention the $42.5 billion debt the country has to pay.

Forbes put Ukraine’s president net worth at $1.3 billion.

According to the United Nations, more than 80 percent of Ukrainians live below the poverty line.

By the standards of the United Nations, if a person spends on lodging and meals less than $5 a day, and in a month less than $150, he or she lives in poverty.

That is, in Ukraine, at the rate of the National Bank, the minimum wage should be about 3750 UAH, says the People’s Deputy Andrei Shipko.

“Today the average wage in Ukraine is 1176 hryvnia, or about $ 50 a month, which is a dollar and a half a day.What is a living wage? It’s not just food, it’s public transportation, and personal services, and utilities, and clothing. Not taken into account in the subsistence minimum health services and education. If we analyze these factors, it is possible to understand that the majority of Ukrainians are beyond the threshold of absolute poverty, ” says Shipko.


Help us grow. Support The Duran on Patreon!


The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.

What do you think?

Notify of
Newest Most Voted
Inline Feedbacks
View all comments

“Corruption”, America’s new calling card. After FIFA, here is a list of some more “corrupt” organisations the US can hunt down

As if ISIS, Ukraine, Russia, Syria, Iraq, FIFA, Libya and Yemen was not enough. US is now looking to pick a fight with China