Slovenia has the poorest president in Europe. Relative to average salaries, the presidents of Ukraine and Serbia follow closely as the second and third poorest on the continent. Across Europe, heads of state earn 4.1 times as much as the average earner and cost taxpayers €49.62 per hour.
This is according to a new study by Slot.Day, who analysed the average gross salaries, GDP per capita and presidents’ earnings across 31 countries in Europe. The researchers used the latest available data from national statistics offices and the Organisation for Economic Co-Operation and Development (OECD), ranging between 2022 and the third quarter of 2023. GDP data is sourced from the International Monetary Fund’s (IMF) World Economic Outlook, published in October 2023. Head of state income estimates are based on independent media reports, national legislation, government and presidency websites, income statements and official government communication.
Europe’s poorest president lives in Slovenia. The president earns almost as much as any average employee in the country. The head of state has an estimated gross annual income of €44,701, only 3% higher than the current average salary in Slovenia – €43,342. An hour of the president’s time costs taxpayers €23.41 before deductions – one of the top 10 cheapest hourly pays for presidents in Europe. Slovenia is a country of medium wealth, whose GDP per capita (US$32,350) is slightly below the European average of US$34,710 for 2023, according to IMF estimates. The Slovenian president’s work is worth 1.5 of the country’s GDP per capita.
Ukraine has the second lowest-paid president in Europe, relative to other average earners in the country. Based on official government communication, the Ukrainian president’s gross annual salary in 2023 was only €8,134, which is 1.63 worth of any average earner in the country. This is the lowest pay of any president in Europe, costing Ukrainian taxpayers only €4.26 per hour, before deductions, to carry out all their duties as head of state. Ukraine’s current GDP per capita is also the lowest in Europe, estimated at €5,245 for 2023. The president earns only 70% above that.
Serbia’s president is the third poorest in Europe. With an hourly compensation of just €10.77, before tax, the head of state earns €20,564 per year. This is worth only 1.68 of the average salary in Serbia, estimated at €12,258. Serbia’s GDP per capita is the eighth lowest in Europe (US$11,301), and the president’s salary is almost double this amount.
The presidents of Lithuania and Montenegro earn under two average salaries in their countries, while those in Croatia and Moldova earn just above this level. Finland, Latvia and Bosnia and Herzegovina complete the top 10 poorest presidents of Europe. Finland is the only country in Slot.Day’s ranking whose GDP per capita (US$54,507) is well above the European average (US$34,710).
The richest presidents in Europe live in Bulgaria, Slovakia and Ireland when comparing their official incomes to average salaries.