Economy

Thursday, October 31

What will happen Ukraine’s agricultural land prices?

What will happen Ukraine’s agricultural land prices? Despite the war, prices for agricultural land in Ukraine continue to grow, according to market experts. Weighted average prices have been gradually increasing by up to 10% since the beginning of the y...

Bankers do not expect a change in the key policy rate by the end of the year, but there are risks.

Bankers do not expect a change in the key policy rate by the end of the year, but there are risks. Ukrainian bankers believe that the Board of the NBU will leave the discount rate at the current level of 13% per annum at a meeting on Thursday. “However, a return to tightening monetary policy ...

France is unhappy with the increase in Ukrainian sugar imports to the EU.

France is unhappy with the increase in Ukrainian sugar imports to the EU. Jordan Guitton, a member of parliament from the right-wing populist National Unity party, is demanding that the French government comment on what he believes is the harmful impact of Ukrainian sugar a...

Businesses have named key conditions for participation in Ukraine’s reconstruction projects.

Businesses have named key conditions for participation in Ukraine’s reconstruction projects. Olena Shulyak, the head of the Parliamentary Committee on Regional Development, said that Ukrainian businesses are willing to join the reconstruction and restoration processes in Ukraine. The most com...

Ukraine is looking for investors interested in the Zaporizhzhia Titanium Institute and a Prykarpattya oil refinery.

Ukraine is looking for investors interested in the Zaporizhzhia Titanium Institute and a Prykarpattya oil refinery. On November 7, the State Property Fund of Ukraine (SPFU) is re-exhibiting an online auction of the state-owned stake, in the amount of 100%, of the Titanium Institute in Zaporizhzhia. The starting pri...

Wednesday, October 30

The yield on deposits will continue to decline, but commercial lending conditions have softened for the first time since 2021.

The yield on deposits will continue to decline, but commercial lending conditions have softened for the first time since 2021. Ukrainian banks expect a further reduction in deposit rates for both individuals and businesses. A survey on lending conditions showed that in the third quarter, the largest share of respondents since...

The EU countries have helped Moscow to finance 1.5 years of war by buying Russian energy sources.

The EU countries have helped Moscow to finance 1.5 years of war by buying Russian energy sources. Although the EU countries began to reduce their dependence on Russian energy products after the start of the full-scale invasion, they continued to import them. In total, the money Russia earned from ...

Ukraine has introduced a new regulation of the export of grain, honey, and nuts to combat the shadow economy.

Ukraine has introduced a new regulation of the export of grain, honey, and nuts to combat the shadow economy. The Cabinet of Ministers introduced an export support regime for operations involved with exporting certain agricultural goods during martial law in Ukraine. This regime will establish minimum export ...

UMAEF launched a $50M investment program for Ukrainian businesses.

UMAEF launched a $50M investment program for Ukrainian businesses. Ukraine-Moldova American Enterprise Fund (UMAEF) has announced the launch of a new $50M direct investment program to support small and medium-sized enterprises (SMEs) in Ukraine and Moldova. The progr...

Turkey expects an increase in bilateral trade volume with Ukraine after the entry into force of the Free Trade Agreement.

Turkey expects an increase in bilateral trade volume with Ukraine after the entry into force of the Free Trade Agreement. One expert believes that with the Free Trade Agreement between Turkey and Ukraine going into effect, bilateral trade volume will increase from $6.1B in 2023 to $10B quickly, and logistical movements w...

The World Bank predicts a historic oil surplus that will cause prices to fall in 2025.

The World Bank predicts a historic oil surplus that will cause prices to fall in 2025. The World Bank predicts that in 2024-2025 global oil supply will exceed demand by an average of 1.2 million barrels per day. This surplus will likely limit the price effects from an even wider conflic...

Tuesday, October 29

Ukraine is working to involve international partners in financing the agricultural land demining market.

Ukraine is working to involve international partners in financing the agricultural land demining market. Potential partners are interested in Ukraine’s pilot project to establish the demining market for agricultural land through Prozorro auctions. And now the task is to involve them in financing th...

German businesses contemplate their options as the suspension of military reservations threatens companies working in Ukraine.

German businesses contemplate their options as the suspension of military reservations threatens companies working in Ukraine. The suspension of the reservation of Ukrainian workers, despite the millions of dollars invested by German companies to support Ukraine’s economy during the war, threatens the business community...

The price of real estate on the primary market is rising despite low demand.

The price of real estate on the primary market is rising despite low demand. The key problem of the primary real estate market is the drop in demand: Ukrainians postpone the purchase of housing until victory if there is no extreme need for it. Also, buyers now prefer the secon...

Monday, October 28

How did Russia’s destruction of energy infrastructure affect the IMF’s forecast for Ukraine’s economy?

How did Russia’s destruction of energy infrastructure affect the IMF’s forecast for Ukraine’s economy? The IMF’s latest forecast for Ukraine’s economic growth in 2024-2025 was significantly lowered, primarily due to Russia’s destruction of the Ukrainian energy infrastructure and uncertainty...

Ukraine is strengthening its trade and economic cooperation with Portugal and involving participation in reconstruction projects.

Ukraine is strengthening its trade and economic cooperation with Portugal and involving participation in reconstruction projects. Bilateral trade between Ukraine and Portugal increased by $29.2M (+15.1%) for eight months of 2024 compared to last year. Positive dynamics have been observed since 2023, when turnover reached $293.7M...

October shelling of port infrastructure has caused tens of millions in damages, but Ukrine’s ports have still exceeded last year’s cargo transshipment figure by 29%.

October shelling of port infrastructure has caused tens of millions in damages, but Ukrine’s ports have still exceeded last year’s cargo transshipment figure by 29%. As a result of Russian shelling in October, Ukraine’s port infrastructure sustained $30-40M in damages, Deputy Minister of Agrarian Policy Taras Vysotskyi said. As well, the agricultural sector&...

Rheinmetall gives updates on the construction of several arms factories in Ukraine.

Rheinmetall gives updates on the construction of several arms factories in Ukraine. The Rheinmetall defense concern’s first plant is already operating in Ukraine, and the second is close behind it. The company plans to build several more enterprises, Rheinmetall director Armin ...

Friday, October 25

The IMF encourages Ukraine to make profound tax changes but not to raise rates.

The IMF encourages Ukraine to make profound tax changes but not to raise rates. IMF experts unveiled their proposals for reducing Ukraine’s national debt as part of their recommendations. The IMF’s Deputy Director of the Fiscal Affairs department, , noted that their r...

Since the beginning of the year, Ukrainians have increased hryvnia deposits by more than ₴54B.

Since the beginning of the year, Ukrainians have increased hryvnia deposits by more than ₴54B. As of October 1, the total amount held in individual deposits (including individual entrepreneurs) in Ukrainian banks amounted to ₴1.3257T. Over the month, it increased by ₴24.7B ($625M), according to...

Over the last two years, small-scale privatization has replenished the Ukrainian budget by almost ₴10B.

Over the last two years, small-scale privatization has replenished the Ukrainian budget by almost ₴10B. In the two years since the restoration of small-scale privatization, the State Property Fund has held 839 successful online auctions, which have provided ₴6.65B in direct revenue to Ukraine. As specif...

Ukraine records a business boom despite the war, but challenges remain.

Ukraine records a business boom despite the war, but challenges remain. One in six Ukrainian entrepreneurs started their current business after the start of the full-scale war. As well, 66% of them had no previous business experience, according to the Mastercard SME Index...

Most Ukrainian businesses invest in building their energy independence.

Most Ukrainian businesses invest in building their energy independence. According to EBA research, this summer’s power outages affected the operations of 87% of companies in Ukraine. Among the companies surveyed, 67% had to suspend work, 60% had increased production...

An Azerbaijani investor reveals plans for Ukraine’s largest and newly purchased titanium mining company.

An Azerbaijani investor reveals plans for Ukraine’s largest and newly purchased titanium mining company. The Azerbaijani holding Neqsol, which privatized Ukraine’s largest titanium enterprise, United Mining and Chemical Company, for ₴3.9B, plans to look for new deposits, as the reserves operated by...

Ukraine has exceeded its drone production plan and brought more than 900 new models of military equipment into service.

Ukraine has exceeded its drone production plan and brought more than 900 new models of military equipment into service. Deputy Minister of Defense Ivan Gavryliuk said that Ukraine exceeded planned drone production, which former Minister of Industry Oleksandr Kamyshyn spoke about at the end of last year. Then, Kamyshyn ...

Half of Ukraine’s largest IT companies have reduced revenues due to the war and the need to relocate.

Half of Ukraine’s largest IT companies have reduced revenues due to the war and the need to relocate. In 2023, 15 of the 30 largest IT companies in Ukraine recorded a decrease in revenue compared to 2022. This is due to the redistribution of business between legal entities of the same group, relocatio...

Ukrainians bought 7,700 apartments in Poland last year, although Polish real estate is 200% more expensive than in Ukraine.

Ukrainians bought 7,700 apartments in Poland last year, although Polish real estate is 200% more expensive than in Ukraine. According to the Polish Central Bank, last year Ukrainians bought real estate in Poland with a total area of almost 380,000 square meters. This is despite the fact that in Poland, due to a real esta...

Thursday, October 24

What EU business programs are available to Ukrainian entrepreneurs in 2024?

What EU business programs are available to Ukrainian entrepreneurs in 2024? In 2024, Ukrainian entrepreneurs can take advantage of several support programs, including: EU4Business provides grants of up to €10,000 for businesses in manufacturing, the creative industries, and l...

The annual export of Ukrainian agricultural products increased by almost 10 million tons, their value by $1.4B.

The annual export of Ukrainian agricultural products increased by almost 10 million tons, their value by $1.4B. During the first nine months of 2024, Ukraine exported 48.9 million tons of agricultural products worth $10.5B. The volume farm product exports for the year increased by 9.9 million tons, or by $1.4B....

Ukrainian refugees have integrated into the EU labor market faster than their predecessors from other countries.

Ukrainian refugees have integrated into the EU labor market faster than their predecessors from other countries. According to the IMF’s New World Economic Survey (WEO), after a downturn during the pandemic immigration to the EU reached an all-time high in 2022, mainly due to the migration of more than four milli...

Which regions of Ukraine provide the greatest tourism profits?

Which regions of Ukraine provide the greatest tourism profits? In the first half of 2024, the tourism sector achieved a net income of ₴5.8B, almost 29% (in nominal terms) higher than the results for the same period in 2023. According to experts, such an increase ...

OKKO starts construction of an all-season ski resort worth $1.5B.

OKKO starts construction of an all-season ski resort worth $1.5B. The largest gas station network in Ukraine, OKKO Group, is building an all-season mountain resort, the GORO Mountain Resort in the Lviv region. Construction was planned to begin in the spring of 2022,...

Wednesday, October 23

The EU cannot eliminate its Russian dependence; purchases of metal products and LNG are increasing.

The EU cannot eliminate its Russian dependence; purchases of metal products and LNG are increasing. The results of January-August 2024 show that the EU imported 3.9 million tons of metallurgical products of Russian origin. Analysts note that import costs reached €1.87B, and predict that by the end o...

The renewal of Russian attacks on Ukrainian ports has led to a 6% increase in wheat prices.

The renewal of Russian attacks on Ukrainian ports has led to a 6% increase in wheat prices. Assistant UN Secretary-General Miroslav Jenča stated at a meeting of the UN Security Council: “In recent weeks, we have witnessed renewed attacks by Russia on Ukrainian Black Sea ports.” H...

Ukraine and France sign a €200M grant agreement to support Ukrainian infrastructure and the economy.

Ukraine and France sign a €200M grant agreement to support Ukrainian infrastructure and the economy. Ukraine and France signed a grant agreement in support of Ukraine’s recovery and critical infrastructure and priority sectors of the economy. Companies in France will be able to access this gran...

Ukraine loses a record number of citizen due to the Russian war.

Ukraine loses a record number of citizen due to the Russian war. Ukraine’s population has decreased by more than 10 million since the beginning of the full-scale war, said the head of the Eastern European branch of the UN Population Fund, Florence Bauer. She ...

Tuesday, October 22

The EU is waiting for the US presidential election and the end of Hungary’s presidency before discussing new Russian sanctions and reassessing Ukraine’s Victory Plan.

The EU is waiting for the US presidential election and the end of Hungary’s presidency before discussing new Russian sanctions and reassessing Ukraine’s Victory Plan. In January, EU countries plan to resume discussions about new restrictions designed to damage the Russian economy. That is when Hungary, Moscow’s closest ally in the EU, will complete its six-mo...

Who and how could destroy the economy of the Russian Federation?

Who and how could destroy the economy of the Russian Federation? According to President Zelenskyy, the Russian Federation’s economy will not survive if influential countries stop supporting its energy sector, in particular, by ceasing to buy Russian energy re...

A Ukrainian airline has added to its fleet of cargo planes and will operate in a new market segment.

A Ukrainian airline has added to its fleet of cargo planes and will operate in a new market segment. Ukrainian Constanta Airline has added a Boeing 737-300 Cargo model to its fleet of cargo planes. The new aircraft’s purpose is medium-haul cargo transportation for Constanta’s traditional ...

Ukrainian businesses are ready to work in the EU: What forecast do entrepreneurs give regarding the terms of Ukraine’s accession?

Ukrainian businesses are ready to work in the EU: What forecast do entrepreneurs give regarding the terms of Ukraine’s accession? 31% of the member companies of the EBA believe that they are fully ready to operate in the EU currently, 38% are primarily ready, 26% are partially prepared, and only 5% are not ready. 71% of companie...

Ukraine’s subsoil exploitation industry needs $250B in investment to reveal its full potential.

Ukraine’s subsoil exploitation industry needs $250B in investment to reveal its full potential. The American International Development Finance Corporation (DFC) believes that Ukraine needs to attract $250B in investment to maximize its subsoil use. Attracting investment is necessary to diversify...

Polish businesses want protection against Ukrainian steel imports.

Polish businesses want protection against Ukrainian steel imports. Polish metallurgical plants fear competition with Ukraine and demand that the domestic market be protected from Ukrainian steel. Polish steel manufacturers hope that Ukraine’s output will mainly...

The Land Bank reports on the latest auctions in the Volyn, Lviv, and Cherkasy regions: Prices have increased by 600-700%.

The Land Bank reports on the latest auctions in the Volyn, Lviv, and Cherkasy regions: Prices have increased by 600-700%. At the end of last week, the state conducted seven auctions to sublease state agricultural land in the Volyn, Lviv, and Cherkasy regions, with a total area of 670.6 hectares. The Land Bank reports t...

Monday, October 21

The IMF adds more beacons to Ukraine’s updated memorandum.

The IMF adds more beacons to Ukraine’s updated memorandum. The National Anti-Corruption Bureau audit was postponed from the end of September to the end of January 2025, and changes to the Criminal Procedure Code were delayed from the end of October 2024 to th...

Ukraine will receive about $5B to produce drones; the opening of defense product exports is under consideration.

Ukraine will receive about $5B to produce drones; the opening of defense product exports is under consideration. President Volodymyr Zelenskyy said that by the end of the year Ukraine will receive another $4-5B for domestic drone production. Zelenskyy specified that the state spent about ₴120B ($3B) on domestic ...

A Ukrainian online taxi service will continue its expansion to foreign markets.

A Ukrainian online taxi service will continue its expansion to foreign markets. Ukrainian online taxi service Uklon will continue its export direction. It plans to return to Moldova and is studying the markets of Eastern Europe, the company’s co-founder Dmytro Dubrovskyi sa...

Friday, October 18

The EU’s refusal to buy Russian gas will deprive the aggressor of $6.5B annually.

The EU’s refusal to buy Russian gas will deprive the aggressor of $6.5B annually. The European Union’s willingness to abandon Russian gas and the cessation of its supply to the EU benefit Ukraine, as it deprives the aggressor country of annual budget revenues of $6.5B, noted ...

Ukraine has already cleared mines from 35,000 square kilometers of land; economic losses are estimated at $11.2B annually.

Ukraine has already cleared mines from 35,000 square kilometers of land; economic losses are estimated at $11.2B annually. Currently, 174,000 square kilometers of land in Ukraine have been mined. Since 2022, thanks to the joint efforts of Ukraine and its partners, sappers have surveyed and returned 35,000 square kilometer...

Ukraine offers new schemes and conditions for supplying the EU’s gas.

Ukraine offers new schemes and conditions for supplying the EU’s gas. Ukraine has offered Slovakia and Azerbaijan a new scheme for gas supplies through its territory to the EU. Discussions are centered on the option of storing gas in Ukrainian underground storage facili...

The government is not giving up on trying to find an investor for the Bilhorod-Dnistrovskyi Seaport and has announced a new auction.

The government is not giving up on trying to find an investor for the Bilhorod-Dnistrovskyi Seaport and has announced a new auction. The Bilhorod-Dnistrovskyi seaport in the Odessa region has been put up for auction again, this time on October 31. The starting price is almost ₴178M ($4.32M). The winner must also pay 20% VAT and rep...

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