New political arithmetic: which ministers became richer in 2024
23 April 11:03
Last year, Ukrainian ministers saw an increase in their income and cash assets, reflecting both higher salaries and other sources of income. The total declared income of the members of the Cabinet of Ministers amounted to almost UAH 108 million, which is 11% more than in 2023, "Komersant Ukrainian" reports, citing a study by analysts at the YouControl R&D center.
The amount of ministers’ monetary assets reached approximately UAH 219.4 million, up 13% over the previous year .
Leaders in terms of income
Oleksiy Chernyshov, Deputy Prime Minister for National Unity, topped the list with an income of UAH 37.5 million. The bulk of this amount was made up of salary at Naftogaz of Ukraine, which amounted to over UAH 25 million. He also received UAH 6 million in bank interest, UAH 747 thousand from domestic government bonds, and UAH 3.4 million from the sale of movable property. His cash assets amounted to about UAH 137 million.
Denys Shmyhal, the Prime Minister of Ukraine, declared UAH 1.16 million of income, which consisted exclusively of salary. His wife, Kateryna Shmyhal, received UAH 8.5 million, of which UAH 7.46 million was income from entrepreneurial activities. The total monetary assets of the family amounted to UAH 16.4 million, including $140 thousand for Denys Shmyhal and $242 thousand for Kateryna Shmyhal.
Herman Smetanin, Minister of Strategic Industries, declared UAH 7.4 million in income. In 2023-2024, he held senior positions in state defense enterprises. His cash assets increased to UAH 4.4 million, which is three times more than in the previous year.
Rustem Umerov, the Minister of Defense of Ukraine, declared UAH 4.9 million of income, of which UAH 1.6 million was salary. Other income included UAH 3.3 million from the sale of securities and corporate rights. His cash assets amounted to UAH 4.4 million, which is 23% less than in 2023.
Mykhailo Fedorov, Deputy Prime Minister for Innovation, Education, Science and Technology, declared UAH 1 .13 million in income, of which UAH 1.13 million was salary. His wife, Anastasiia Fedorova, received UAH 4.84 million from business activities. The family’s monetary assets amounted to over UAH 900 thousand.
General trends
In 2024, the average annual salary of government members amounted to UAH 1.3 million, which is 24% more than in 2023. For 13 out of 21 ministers, salaries accounted for more than half of their total income.
The growth of ministers’ monetary assets was due to both the exchange rate difference in foreign currency savings and an increase in hryvnia assets. Six ministers more than doubled their cash assets.
In 2024, four ministers demonstrated a significant increase in income, more than doubling it:
Oleh Nemchinov, Minister of the Cabinet of Ministers of Ukraine, increased his income by 15% due to a 15% increase in salary and income from the alienation of his wife’s property.
Andriy Sybiga, Minister of Foreign Affairs, increased his income mainly due to a salary increase.
Yulia Svyrydenko, First Vice Prime Minister and Minister of Economy, received a fee and other payments from the Kyiv School of Economics worth over UAH 3 million, and increased her salary by 19%.
Oleksiy Kuleba, Vice Prime Minister for Restoration of Ukraine and Minister of Community and Territorial Development, increased his income by almost 32% due to an increase in his salary and income from his wife’s business.
Svitlana Hrynchuk (71%), Rustem Umerov (65%), Andriy Sybiga (55%), and Natalia Kalmykova (52%) recorded thehighest salary increases . For most of these officials, the main source of income is salary.
The analysis of ministers’ declarations for 2024 shows an overall increase in income and monetary assets of government officials. This is due to both salary increases and other sources of income, such as business activities, bank interest, and property sales.
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