Prices in Ukraine this year will grow at the same pace as last year. In 2023, it should not be expected to see a slowdown in the growth of consumer prices because inflation in Ukraine will be similar to the previous year’s rate, when it reached 26.6%, according t... #InflationinUkraine #pricesinUkraine #UkraineEconomy
Another Ukrainian seaport has been put up for sale. On March 3, the State Property Fund will hold a privatization auction to sell the Bilhorod-Dniester Sea Trade Port. This will be the second privatization of the port in Ukraine’s entire history. The s... #PrivatizationAuctions #PrivatizationinUkraine #UkrainianSeaPorts
Russian and Belarusian mineral fertilizers worth UAH 100M were seized in a Ukrainian Seaport. The court seized a bulk shipment of mineral fertilizers of Russian and Belarusian production, with a total value of almost UAH 100M ($2.7M). The products were found in 170 wagons in the Mykolaiv seapo... #Belaruskali #DmytroFirtash #RussianFertilizers #Uralkali
Ukraine’s economic integration into the EU will take up to four years. Ukraine’s full economic integration into the European Union may take two to four years, said Ukrainian trade representative Taras Kachka. He explained that Ukraine has made great progress in the... #AssociationwithEU #TarasKachka #UkraineEU
Ukraine signs an agreement on participation in the EU single market. According to the results of a joint meeting of the Ukrainian government and the European Commission in Kyiv on Thursday, an agreement on Ukraine’s participation in the EU Single Market program ... #DenysShmyhal #SingleMarketEU #UkraineEU
Ukraine presents its reconstruction plan to the G7 ambassadors. At a meeting with the ambassadors from the Big Seven countries, Minister of Infrastructure Oleksandr Kubrakov presented the strategic recovery directions for 2023. The restoration of critical infrastr... #OleksandrKubrakov #UkraineReconstruction
Despite a 16% drop last year, agricultural exports were the second largest total in Ukraine’s history. Last year, Ukraine exported $23.4B worth of farm food products, 16% less than in 2021. However, this indicator is the second largest in the independent history of Ukraine, despite the full-scale war. ... #agricultural #agroexportukraine #UkraineForeignTrade
Ukraine fell to 25th place in the world ranking of steel producers. Last year, Ukrainian metallurgists smelted 6.3 million tons of steel, compared to 21.4 million tons in 2021. As a result, Ukraine moved from 14th to 25th place in the global ranking of steel producers... #MetallurgiaUkraine #SteelProductionUkraine #Worldsteel
Ukrainian businesses predict layoffs and rising prices. Despite adapting to current conditions, Ukrainian businesses have worsened their expectations regarding economic activity. The index of expectations of business activity in January 2023 decreased to 3... #businessinukraine #UkraineBusinessActivity #UkraineLaborMarket
Ukraine’s exports fell by 30% and imports by 4%. Ukraine’s export of goods and services decreased by 29.9% in 2022, while imports decreased by only 3.9%, according to the NBU Balance of Payments Review. The export of goods decreased by 35.1% l... #UkraineExport #UkraineForeignTrade #UkraineImport
Ukraine has fulfilled almost all the requirements of the IMF. Ukraine has already fulfilled four of the five structural checkpoints provided for in the IMF’s monitoring program, which the state undertook to fulfill by the end of January. National Bank Chairman A... #AndriyPishnyi #IMFandUkraine #IMFrequirements
Last year, the share of agricultural products in Ukrainian exports was 53%. In 2022, the share of products of the agro-industrial complex in the overall structure of exports of goods from Ukraine was about 53%, said the Deputy Chairman of the All-Ukrainian Agrarian Council, D... #agroexportukraine #DenysMarchuk #UkraineExport
Half of Ukraine’s business regulatory procedures will be canceled. The interdepartmental working group conducting an accelerated review of the state’s regulatory instruments for economic activity recommended that the Cabinet of Ministers cancel a significant amount o... #BusinessDeregulation #UkraineEconomicFreedom #UkraineEconomy
The war damaged 83% of companies’ business in Ukraine. About 83% of EBA members experienced a drop in business performance last year. Compared to October 2022, the number of companies whose operations have been affected by missile attacks has almost doubl... #BusinessduringWar #businessinukraine #BusinessLosses
Ukraine opened 12 new export markets in the livestock sector. Last year, the country received 22 international veterinary certificates for product export by Ukrainian agricultural companies. In 2022, Ukraine started exporting to Albania, Georgia, the Dominican R... #agroexportukraine #UkraineExport #UkraineForeignTrade
Ukrainian titanium will help the Western allies to deter Russia and China. The Western allies are working on locating, developing, and using titanium from Ukraine as a source for the critical metal that plays a leading role in developing the most advanced Western military te... #MiningTitaniumUkraine #Russiantitanium #TitaniumUkraine
Processing enterprises in Ukraine will be financed through the economic recovery fund. The Cabinet of Ministers has allowed the use of money from the Economic Recovery and Transformation Fund to finance grants for the eRobota business, Prime Minister Denys Shmyhal said. He clarified tha... #DenysShmyhal #eRobota #GrantsForBusiness
Ukrainian business losses from the war are estimated at $13B. As well, $24.9B will be needed to restore damaged or destroyed enterprises, KSE Institute experts calculated. About $9B of the mentioned amount are from large and medium-sized enterprises. At least 10... #UkraineBusinessDuringWar #UkraineDamages #UkraineLossesDuringWar
The UN estimates Ukraine’s economy decreased by more than 35%. According to a UN report, Ukraine’s economy shrank by more than 35% and had a monthly budget deficit of $5B as a result of the full-scale Russian invasion. The organization paid particular atten... #UkraineEconomy #UnitedNations #WarinUkraine
The NBU’s 2023 GDP growth forecast has decreased from 4% in October to 0.3% in January. The head of the National Bank, Andriy Pyshnyy, explained that the lowered estimate is due to the consequences from energy terrorism and a revision of the primary assumption regarding the duration of s... #AndriiPyshnyi #nbu #UkraineEconomy #UkraineGDPforecast
The EuroChambres predicts difficult times for the global economy. The international business community expects a challenging year in 2023, according to the association’s website. In the European Parliament’s global economic survey based on the responses from t... #EuroChambres #GlobalEconomy #Globalinflation
Poland pushes for the tenth package of EU sanctions to be the most severe. Poland’s Deputy Foreign Minister Pawel Jablonski said the diplomatic process regarding the new sanctions package is ongoing. Poland hopes it will be as strict and harsh as possible. Previous san... #EUsanctions #PawelJablonski #SanctionsAgainstRussia
Ukrainian furniture manufacturers exported $806M in products in 2022. The volume of furniture exports by Ukrainian manufacturers in 2022 reached $806M, which is 23% lower than the pre-war 2021 figures, said a member of the Ukrainian Association of Furniture Makers, Oks... #FurnitureExport #UkraineFurnitureProduction #UkrainianFurniture
Only 6% of foreign companies have left Russia, and 40% do not plan to do so. 177 companies with foreign capital have left the Russian market, which is 6% of the total number. Another 1,156 businesses (38%) have closed operations and are in the process of exiting the market. Ho... #ForeignCompaniesInRussia #RussianMarket
The tax rate in Ukraine exceeds the European rate and leads to shadow wages. The actual income tax rate for Ukrainians today reaches 51.5%. To pay a salary of UAH 20,000, you need to pay about UAH 11,000 in taxes, said Rostislav Shurma, deputy head of the President’s Off... #IncomeTaxationUkraine #RostyslavShurma #TaxesinUkraine
Ukraine increased sea export of agricultural products due to large-tonnage ships. During the 25th week of the grain corridor’s operation, 894,000 tons of agricultural products were exported through the seaports in the Odesa region, which is 82% more than in the previous week. Accor... #GrainCorridors #UkraineExport #Ukrainiangrainexport
The demand for Ukrainian-speaking workers in Poland has increased 10 times. Since the second half of 2022, the demand for workers with knowledge of the Ukrainian language is steadily growing in Poland. In the pre-war period, such employer requests averaged 200-250 per year, b... #GremiPersonal #ukrainiansinpoland #UkrainianSpeakingWorkers
The European Union will extend trade liberalization with Ukraine. The EU is leaning toward prolonging full trade liberalization with Ukraine in order to support its economy in the face of industrial concerns. The bloc is likely to expand those measures because they ... #UkraineEUtrade #UkraineForeignTrade #ValdisDombrovskis
Fitch Ratings forecasts the growth of Ukraine’s economy in 2023. The American rating agency Fitch forecasts Ukraine’s GDP will grow by 2% in 2023, as the war prevents the return of large numbers of refugees or large-scale investment, and power outages create ... #FitchRatings #InflationinUkraine #UkraineEconomy #UkraineGDP
According to 2022 results, prices for rolled metal increased by 26%, according to the Ukrainian Center of Steel Construction association. According to the head of the association, Hanna Gontarenko, the price increase occurred due to the occupation of the production fac... #HannaGontarenko #MetallurgiaUkraine #UkraineRolledMetal
Fitch confirmed Ukraine’s likely default. Fitch Ratings has confirmed the long-term default rating of the issuer of Ukraine in foreign currency at the CC level, the agency’s website says. This reflects Fitch’s view that further re... #defaultinukraine #FitchRatings #UkraineEconomy
Ukraine is close to enacting the €4.2B Single Market program with the EU. The government has approved a draft presidential decree, which creates a Ukrainian delegation for negotiations with the European Commission to conclude an agreement with the EU on Ukraine’s part... #EUmarket #SingleMarketProgram #SupportBusiness
Ukraine and the EU are already working on resuming air travel after the war. Ukraine and the European Union have agreed to launch the Aeronautical Solidarity Fund, which will help train personnel and infrastructure for the post-war resumption of flights, the Ministry of Infras... #AirTravelUkraine #Ukraerorukh
The night is darkest before the dawn: the IMF predicts economic recovery soon. Despite the global economy’s disappointing forecasts for 2023, it will still rebound from its lowest level and begin to grow moderately, said Kristalina Georgieva, managing director of the IMF. Speaki... #imf #KristalinaGeorgieva #worldeconomy
Ukraine plans to sell another seaport. The State Property Fund plans to privatize the Bilhorod-Dniester Sea trade port by the end of winter, said the head of the local branch of the State Property Fund, Oleksandr Slavskyi. The port’s priva... #PrivatizationinUkraine #SeaPortsUkraine #StatePropertyFund
In Ukraine, grain rail transportation has become cheaper. The average cost of transporting grain by Ukrainian Railways (UZ) owned wagons decreased by 36% from December 2022 to January 2023, says Valery Tkachev, the company’s top manager. He specified t... #exportbyrail #RailTransportation #UkrainianRailways #ValeryTkachev
Ukraine will begin production of railway products that have been historically manufactured in Russia. The Ukrainian multidisciplinary industrial and investment group Aurum, which exports products to Eastern Europe and the Middle East, plans to mass-produce products for the railway industry in 2023. Th... #AurumGroup #RailwayProducts
A Ukrainian seaport was privatized for triple the starting price. The Ust-Dunaisk seaport was sold at auction on Tuesday, January 17, for UAH 201M ($5.5M). The privatization of a seaport took place for the first time in the history of Ukraine, reported the State Pr... #PrivatizationinUkraine #StatePropertyFund #UkraineSeaPorts
Davos expects a global recession in 2023. Two-thirds of leading private and public sector economists surveyed by the World Economic Forum (WEF) expect a global recession in 2023. The current high inflation, low growth rates, high indebtedness... #GlobalRecession #SaadiaZahidi #worldeconomicforum #worldeconomy
This year’s Davos Forum will see no Russian or Chinese participants. There are roughly 116 billionaires registered to attend this year’s event, 40% more than a decade ago. However, Russian billionaire oligarchs and Chinese businesspeople will not participate in the Wor... #Davos #WEF #worldeconomicforum
People around the world are losing economic optimism. At the end of 2022, only 40% of the planet’s inhabitants believed that their families would live better in the next five years. This is a 10% decline compared to 2021, according to a survey by t... #EconomicOptimism #Globalinflation #worldeconomy
The world’s labor market will collapse due to the war in Ukraine. Global employment growth will slow sharply to 1% this year, compared to 2% in 2022, due to the economic consequences of Russia’s war against Ukraine, leading to high inflation and tightening mon... #LaborMarket #RichardSamans #UnemploymentRate
Ukraine will stimulate its systematic production of drones. The state will focus on the systematic stimulation of the development and production of unmanned aerial vehicles in Ukraine, said the Minister of Economy of Ukraine, Yulia Svyridenko. According to the... #DroneProduction #MykhailoFedorov #UkrainianDrone #YuliyaSvyridenko
A newly created state agency will manage Ukraine’s reconstruction. The government has created a new entity associated with the Ministry of Infrastructure called the State Agency for Reconstruction and Development of Infrastructure of Ukraine. As Prime Minister Denys... #DenysShmyhal #InfrastructureofUkraine #UkraineReconstruction
The Ukrainian government has decided to speed up business deregulation. The government has created an interdepartmental group, which will rapidly revise state regulatory instruments for business to improve the country’s business climate, said Prime Minister Denys Shmyhal.... #BusinessDeregulation #DenysShmyhal #UkraineEconomy #YuliyaSvyridenko
Ukraine needs a new funding mechanism and expansion of existing financial support because the war is dragging on. As the war continues, a new tool similar to the Rammstein format is needed, according to the Minister of Finance of Ukraine, Serhiy Marchenko. According to him, grants from the US and the new microfin... #FinancialRamstein #FinancialSupportforUkraine #SerhiyMarchenko
The World Economic Forum begins in Davos and Ukraine is the main focus. The annual World Economic Forum (WEF) program in Davos includes several events related to Ukraine. On January 19, the head of the Office of the President, Andriy Yermak, will present the Ukrainian pea... #AndriyErmak #WEF #worldeconomicforum
The state will help 20 Ukrainian enterprises with export to Poland. The Ministry of Digital Transformation and its partners selected 20 winners in the export support program for entering the Polish market. Brands will receive an individual assistance trajectory: basic... #PolishMarket #UkrainePolandTrade #UkrainianExport
Ukraine and Ghana have discussed the creation of food storage logistics hubs. During the meeting, the Minister of Agrarian Policy of Ukraine, Mykola Solskyi, and the Minister of Food of the Republic of Ghana, Owusu Afriyie Akoto, discussed the issue of launching a joint project... #LogisticsHubAfrica #MykolaSolsky #OwusuAfriyieAkoto #Ukrainiangrain
Ukrainian mining and metallurgical enterprises are operating at only 15-20% capacity. According to Ukrmetallurgprom, problems in the industry began in 2014, when Ukraine lost industrial enterprises in the east due to the Russian occupation of the region. It forced the industry to rerou... #UkraineMetallurgicalProduction #Ukrmetallurgprom
