Salary, business and debts: How much did Pervomaisk Mayor Demchenko earn?

In his declaration, Pervomaisk Mayor Oleh Demchenko disclosed a significant amount of family property, with most of the assets registered to his wife. This includes residential and commercial real estate, as well as land plots. Against this background, expensive cars, significant amounts of cash, and a large loan that is still outstanding are particularly noteworthy.

This was reported by the Center for Public Investigations.

The documents contain a wide range of real estate - from apartments in Kharkiv to commercial facilities and land in Pervomaisk. Most of them are registered in the name of his wife Iryna or are jointly owned with other persons.

The oldest property is a 36.2 m² apartment in Pervomaisk, which Demchenko bought back in 2004 for UAH 9,000. Later, in 2015, the family received a much larger apartment in Kharkiv with an area of 113.1 m². It is jointly owned by several people, including the mayor's wife, but its value is not indicated in the declaration.

In 2017, the family actively expanded its assets: Iryna Demchenko bought another apartment in Kharkiv with an area of 91.2 m² for 378 thousand hryvnias, as well as three parking spaces. The cost of one of them is UAH 101 thousand, while the price of the others is not specified.

At the same time, commercial real estate in Pervomaisk was being formed. A large store with a basement of more than 1285 m² was built, divided among four co-owners. Each owns 25%, including the wife of the mayor. The situation is similar with the 1552 m² land plot acquired the same year, which is also divided among the same co-owners.

Separately, the declaration mentions land plots that the family leases. Since 2013, the wife has been using a small plot of 21 m² owned by the city council. In 2024, they signed a lease for another plot, a much larger one with an area of 210.3 m².

The declaration also includes a residential building with an area of more than 210 m², which formally belongs to another person but is used by the family for free. In addition, his wife owns a non-residential property purchased back in 2010, but its value is not indicated.

As for transportation, Demchenko himself owns an old 1964 GAZ car valued at 3 thousand hryvnias. At the same time, the family uses a much more expensive car - a 2013 PORSCHE Cayenne, purchased in 2019 for 400 thousand hryvnias.

The main source of the mayor's income is his salary - he received more than UAH 1.29 million last year. In addition, he declared a pension of over UAH 336 thousand and a small income from a bank. In total, his annual income exceeded UAH 1.6 million. His wife's income is less significant, but diverse: over UAH 415 thousand from business, a pension and a government benefit.

The family's financial assets listed in the declaration are mostly concentrated in cash, with a significant portion of funds kept outside banks. The mayor himself declared UAH 200 thousand in cash and another USD 10 thousand. For comparison, last year his cash savings in hryvnia amounted to 100 thousand, which means that this amount has actually doubled.

In addition, he has funds in bank accounts: more than UAH 52 thousand in Raiffeisen Bank and about UAH 26 thousand in Oschadbank. At the same time, last year he had much more in his accounts - 231,441 hryvnias.

His wife's financial resources are even greater. She declared 300 thousand hryvnias in cash, as well as 15 thousand US dollars and 5 thousand euros. In addition, she has several bank accounts with relatively small amounts: in FUIB, she has a total of more than 25 thousand hryvnias in two accounts, and in PrivatBank, she has more than 11 thousand hryvnias and about 264 dollars. Last year, her bank savings amounted to more than 80 thousand hryvnias and 2,394 US dollars.

In the section of debts, they mentioned his wife's loan for UAH 5 million received in 2023. As of the end of the reporting period, it had not been repaid, nor had interest been paid.

In October last year, law enforcement officers served Oleh Demchenko with a notice of suspicion. According to the investigation, he may have entered false information in his 2023 declaration and failed to declare more than UAH 5.3 million.

Анна Бальчінос