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Antony Blinken supports Ukraine’s peace proposal.

Today’s News

Wednesday, March 29

Antony Blinken supports Ukraine’s peace proposal. The US supports Ukraine’s peace framework, which demands the withdrawal of all Russian forces from Ukrainian territory, and opposes alternate proposals that would advantage Moscow, Secretary of State Antony Blinken ...

Europe believes in a non-military path to Ukraine’s victory through prospects for EU membership.

Tuesday, March 28

Europe believes in a non-military path to Ukraine’s victory through prospects for EU membership....

The Ukrainian government has fulfilled 72% of its obligations under the Ukraine-EU Association Agreement.

Monday, March 27

The Ukrainian government has fulfilled 72% of its obligations under the Ukraine-EU Association...

NATO says Ukraine already has enough weapons for a counteroffensive, but analysts disagree.

Friday, March 24

NATO says Ukraine already has enough weapons for a counteroffensive, but analysts disagree.

Russia carried out two massive strikes on residential buildings in the last 24 hours.

Thursday, March 23

Russia carried out two massive strikes on residential buildings in the last 24 hours.

Morning Economic Digest

Straight, factual, timely and investable business news and economic trends from Ukraine, Europe’s next Frontier Economy.

Today’s News

Wednesday, March 29

Ukraine will receive a second installment of budget aid from the US.

Ukraine will receive a second installment of budget aid from the US. Ukrainian Prime Minister Denys Shmyhal said the government will receive an additional $2.5B from the United States as a grant to help with state services such as salaries and benefits. The budgetary s...

Germany launches the National Platform for the Reconstruction of Ukraine.

Germany launches the National Platform for the Reconstruction of Ukraine. On March 27 during an event dedicated to the platform’s opening Germany discussed its potential contribution to Ukraine’s post-war reconstruction. It considered options for possible cooperation ...

Germany wants to increase spending on military aid to Ukraine fivefold.

Germany wants to increase spending on military aid to Ukraine fivefold. The plan for the coming years foresees an increase in aid from €3B to more than €15B, writes Spiegel. The Bundestag budget committee must approve the funds allocation. As the publication writes, its m...

The WB is considering additional assistance to restore Ukraine’s agricultural sector.

The WB is considering additional assistance to restore Ukraine’s agricultural sector. At a meeting with the Minister of Agricultural Policy of Ukraine, Mykola Solskyi, and the leadership of the World Bank, discussions were held regarding both the creation of new programs and financing ...

The NBU encourages banks to raise interest rates on household deposits.

The NBU encourages banks to raise interest rates on household deposits. To encourage this, beginning May 11 the National Bank of Ukraine will equate the standards for the formation of mandatory reserves by banks with individual deposits for up to three months to the crite...

The Global Wind Energy Council predicts a breakthrough for the industry in 2023.

The Global Wind Energy Council predicts a breakthrough for the industry in 2023. Wind energy this year will reach a historic milestone with one TW of installed capacity worldwide, the Global Wind Energy Council said in its annual report. It is noted that 2023 will be the beginning...

Ukraine’s coal production at state mines decreases by half while the price of coal has increased four times,

Ukraine’s coal production at state mines decreases by half while the price of coal has increased four times, said the general director of Centrenergo, Volodymyr Egorov. He specified that coal production now amounts to about two million tons per year, and the price of coal has increased from UAH 1,800 to UAH ...

Ukrainian business says that unblocking the ports will provide Ukraine 10% to GDP and $18B in revenue.

Ukrainian business says that unblocking the ports will provide Ukraine 10% to GDP and $18B in revenue. According to the Ukraine Federation of Employers, this would allow the restoration of more than 500,000 jobs and provide UAH 135B in annual tax revenue. In addition, the restoration of the ports’...

Dollar bond sale adds UAH 17.4B in state budget revenue.

Dollar bond sale adds UAH 17.4B in state budget revenue. On March 28, the Ministry of Finance sold military bonds of the domestic state loan and attracted UAH 17.39B to the state budget. According to the Ministry, UAH 28.15M was received from selling annual...

Agriculture and the metal industry remained the export leaders in 2022.

Agriculture and the metal industry remained the export leaders in 2022. According to the last year’s results, Metinvest, ArcelorMittal, and Ferrexpo became the leaders among the largest exporters of the metal industry during the war year. As Forbes reported, despite...

Ukraine decides to sow more vegetables this year due to rising prices.

Ukraine decides to sow more vegetables this year due to rising prices. The increase in planted area will help to achieve a bigger harvest than last year, Deputy Minister of Agricultural Policy Taras Vysotskyi said. He added that the ministry is working to fill the market...

Tuesday, March 28

Europe believes in a non-military path to Ukraine’s victory through prospects for EU membership.

Europe believes in a non-military path to Ukraine’s victory through prospects for EU membership. The President of Serbia, Aleksandr Vucic, believes it will be almost impossible for Ukraine to defeat Russia in a military capacity. Therefore, he thinks Ukraine’s optimal path is through gaining mome...

World Bank: The global economy is at risk of a “lost decade”.

World Bank: The global economy is at risk of a “lost decade”. Between 2022 and 2030, the potential average global GDP growth will slow to 2.2%, below the zero-year rate, the bank said. For developing countries, the decline will be just as steep, from 6% in 2000-...

In 2023, the government will pay the NBU more than UAH 80B in bond interest payments.

In 2023, the government will pay the NBU more than UAH 80B in bond interest payments. The National Bank of Ukraine expects to receive UAH 81.7B in coupon payments for military bonds purchased from the Ministry of Finance in 2022 if the discount rate remains at 25%, the bank said. From ...

Ukraine has significant demand for dollars, and the foreign exchange market still depends on interventions.

Ukraine has significant demand for dollars, and the foreign exchange market still depends on interventions. This conclusion was reached by the members of the Monetary Policy Committee of the National Bank of Ukraine on March 15, when they decided to keep the discount rate at 25%. It is noted that the high l...

The Ministry of Environment insists on closing all waste landfills and investing in the construction of waste management facilities.

The Ministry of Environment insists on closing all waste landfills and investing in the construction of waste management facilities. According to the Minister of Environmental Protection, Ruslan Strelets, Ukraine must stop using waste landfills and start building waste management facilities, such as waste incinerators and processin...

Canadian experts will advise Ukraine on the reconstruction process and help attract investment.

Canadian experts will advise Ukraine on the reconstruction process and help attract investment. The Support Ukraine’s Reforms for Governance (SURGe) project, funded by the Government of Canada, will provide expert support to the Ministry of Reconstruction. The parties concluded a correspon...

Poland will increase the ammunition production for the Armed Forces, and the EU demands immediate transfer to Ukraine.

Poland will increase the ammunition production for the Armed Forces, and the EU demands immediate transfer to Ukraine. Polish state and private enterprises of the military-industrial complex will increase the production of ammunition, which will go to both the Polish army and the Armed Forces of Ukraine, Prime Ministe...

Ukraine exported 3.8 million tons of agricultural products in the first half of March.

Ukraine exported 3.8 million tons of agricultural products in the first half of March. As the Ministry of Agrarian Policy notes, this is 100,000 tons more than in the last 15 days of February. The volume of agricultural exports for the first 15 days of March is comprised of 53.3% corn, ...

The Dutch Development Bank lost €137M in Ukraine due to war.

The Dutch Development Bank lost €137M in Ukraine due to war. Of this amount, €82M is a loan loss, and €50M results from capital investments. The bank’s annual report notes that the Dutch Development Bank (FMO) has been actively working in Ukraine for deca...

The war has changed the housing rental market in Ukraine.

The war has changed the housing rental market in Ukraine. Kyiv has lost its status as the most expensive city in the country regarding housing rent prices and now stands in third place. At the end of 2022, Lviv overtook the capital in terms of the cost of re...

Ukrainian startup Promin Aerospace has received their first pre-orders for $6.5M.

Ukrainian startup Promin Aerospace has received their first pre-orders for $6.5M. The Promin Aerospace team is developing a rocket that should be many times cheaper than its counterparts. The rocket does not have stages that burn out during flight and require the empty element to s...

Monday, March 27

The Ukrainian government has fulfilled 72% of its obligations under the Ukraine-EU Association Agreement.

The Ukrainian government has fulfilled 72% of its obligations under the Ukraine-EU Association Agreement. The government presented a report on its implementation of the Association Agreement for 2022, stating that Ukraine has fulfilled 72% of its obligations under the agreement with the EU. The overall pr...

The EU removed Ukraine from its blacklist of countries that are not fighting corruption.

The EU removed Ukraine from its blacklist of countries that are not fighting corruption. The Group of States of the Council of Europe Against Corruption (GRECO) recognized Ukraine’s progress in preventing corruption among deputies, judges, and prosecutors. The corresponding report a...

The EU will use frozen Russian assets for the benefit of Ukraine.

The EU will use frozen Russian assets for the benefit of Ukraine. The EU is studying its legal options for the use of frozen Russian currency reserves, including their investment to obtain profits that will be directed to Ukraine’s restoration, writes Politico. Unde...

The EU supports the creation of an international mechanism for registering losses in Ukraine, limiting Russian oil prices, and strengthening sanctions.

The EU supports the creation of an international mechanism for registering losses in Ukraine, limiting Russian oil prices, and strengthening sanctions. According to the EU summit results, the European Council has supported the creation of an international mechanism that will document the damage caused by Russia during the war in Ukraine. The EU also ...

The Government of Ukraine approved a memorandum with the IMF and its G7 creditors – loan guarantees and postponement of debt payments until 2027.

The Government of Ukraine approved a memorandum with the IMF and its G7 creditors – loan guarantees and postponement of debt payments until 2027. The Cabinet of Ministers of Ukraine approved the government’s and the National Bank’s draft letter of intent to the IMF and the draft Memorandum on Economic and Financial Policy. Minister ...

The IMF predicts a challenging year for the global economy.

The IMF predicts a challenging year for the global economy. According to the Fund, risks to financial stability have increased. 2023 will be another difficult year, where global growth will slow to below 3% due to the pandemic’s consequences, the war in Ukrain...

The government has provided conditions for the mass production of drones in Ukraine.

The government has provided conditions for the mass production of drones in Ukraine. The Cabinet of Ministers adopted a resolution that will significantly speed up the creation and supply of domestic drones to the front and will create conditions for the rapid development of Ukrainian...

Ukraine will have a direct railway connection with the port of Reni through Moldova.

Ukraine will have a direct railway connection with the port of Reni through Moldova. The government approved a draft protocol on amendments to the agreement between the governments of Ukraine and the Republic of Moldova on the operation of railway transport, as announced by the Prime ...

Qatari investors remain in Ukraine despite the war.

Qatari investors remain in Ukraine despite the war. The Qatar company QTerminals, which took over the concession of the Olivia seaport in Mykolaiv, has continued jobs for its Ukrainian workers even though the port is not functioning, and intends to con...