Economy

Monday, December 2

Ukraine has approved a state property policy to improve state asset management and attract investment.

Ukraine has approved a state property policy to improve state asset management and attract investment. According to Minister of Economy Yulia Svyrydenko, the new property policy defines the state’s role in managing state-owned companies, outlining which are strategically crucial for the country a...

ITF Results: logistical ties with the EU, increased port capacity, and an infrastructure recovery fund.

ITF Results: logistical ties with the EU, increased port capacity, and an infrastructure recovery fund. Deputy Prime Minister for Recovery Oleksiy Kuleba stated during the International Transport Forum (ITF) that Ukraine is doing everything necessary to integrate into the European transport space and is...

The Rome Conference on the Reconstruction of Ukraine will focus on four areas.

The Rome Conference on the Reconstruction of Ukraine will focus on four areas. These are the private sector’s involvement, the regional dimension, European integration, and human capital development, said the Italian Ambassador to Ukraine Carlo Formosa. According to him, I...

Finland is ready to join Ukraine’s reconstruction: which sectors are considered priorities?

Finland is ready to join Ukraine’s reconstruction: which sectors are considered priorities? The Ministry of Economy reported that “Finland has been playing an important role in supporting Ukraine since February 2022, allocating €3.1B for defense and humanitarian assistance. FinlandR...

Zelenskyy signs tax increases into law: How much more will the budget receive?

Zelenskyy signs tax increases into law: How much more will the budget receive? President Volodymyr Zelenskyy signed a law on tax increases that are necessary to finance defense spending. The increases came into force on December 1. The total tax increases in 2024 will be about ₴...

European wood-based panel manufacturers invest €200M in woodworking plants in the Rivne region.

European wood-based panel manufacturers invest €200M in woodworking plants in the Rivne region. European wood-based panel manufacturer Kronospan has invested €200M in a new production line for oriented strand board (OSB) in the Rivne region. Over the past 20 years of operation in Ukraine, the co...

Friday, November 29

Alterra Group plans to build seven industrial parks after it completes one in Lviv.

Alterra Group plans to build seven industrial parks after it completes one in Lviv. The development company Alterra Group, which is currently implementing the Formatsia.Lviv industrial park project, intends to build a network of seven such parks, the company’s top manager, Olen...

In Ukraine, more than 1,200 agricultural enterprises have closed since the start of the full-scale invasion.

In Ukraine, more than 1,200 agricultural enterprises have closed since the start of the full-scale invasion. At the beginning of 2022, businesses had almost ceased hiring, and people were not looking for work. According to IMF estimates, Ukraine’s total losses amounted to 35% of GDP, and many companies...

The new European Commissioner for Agriculture names the Ukrainian agricultural sector the elephant in the room regarding its impact on EU agriculture.

The new European Commissioner for Agriculture names the Ukrainian agricultural sector the elephant in the room regarding its impact on EU agriculture. Christoph Hansen from Luxembourg has become the new European Commissioner for Agriculture and Food. Hansen comes from a family that owns a large farm in Luxembourg. Hansen has been working in the Euro...

Even under a baseline scenario, Ukraine’s public debt will exceed 100% of GDP.

Even under a baseline scenario, Ukraine’s public debt will exceed 100% of GDP. Ukraine’s public debt is already approaching 100% of GDP, and financing needs for recovery are currently around $600B. Even under the baseline scenario, the peak value of public debt is 103.9% of GDP,...

Ukrainian IT exports may decline by 6% this year.

Ukrainian IT exports may decline by 6% this year. The decline in exports of Ukrainian IT services continues. Even under an optimistic scenario, by the end of 2024 the decrease in volume will be at least 4% compared to last year, and this figure could...

Thursday, November 28

Russia is preparing to stop gas transit through Ukraine, while its oil and gas revenues have increased by 26% over the year.

Russia is preparing to stop gas transit through Ukraine, while its oil and gas revenues have increased by 26% over the year. In its internal plan for 2025, Russian Gazprom assumes that gas will no longer flow to Europe via transit through Ukraine. This is the base scenario that Russia is considering, writes Reuters. It is p...

Piraeus Bank opened its fifteenth branch in Zhytomyr as part of its strategy to expand its network across Ukraine.

Piraeus Bank opened its fifteenth branch in Zhytomyr as part of its strategy to expand its network across Ukraine. Despite the war’s challenges, Piraeus Bank remains a reliable partner for Ukrainian businesses with over 100 years of history and steadfast European values. This marks the fifteenth branch openi...

Ukraine and Denmark will introduce an investment acceleration mechanism.

Ukraine and Denmark will introduce an investment acceleration mechanism. The Ukrainian Ministry of Economy, following the Danish-Ukrainian Business Forum, reported: “Ukraine needs to increase private investment for the rapid recovery of our economy. Today, we signed ...

Wednesday, November 27

Trump is preparing a sweeping plan to strengthen the US’ role in the global hydrocarbon market.

Trump is preparing a sweeping plan to strengthen the US’ role in the global hydrocarbon market. Donald Trump’s transition team is preparing a package of large-scale energy measures that will be presented within days of his inauguration. The package will include approving export permits for...

The hryvnia continues to weaken under the National Bank’s control.

The hryvnia continues to weaken under the National Bank’s control. Last week, the National Bank kept the intervention volume below this year’s average weekly figure. It allowed the hryvnia exchange rate to weaken slightly. The market’s total foreign excha...

Despite the war, the West trades titanium with Russia; interdependence does not allow ties to be severed.

Despite the war, the West trades titanium with Russia; interdependence does not allow ties to be severed. In the first seven months of 2024, Russian titanium exports amounted to over $120M, with 33% of supplies going to France and the rest being shipped to the UAE, Turkey, Azerbaijan, Estonia, and Singapo...

The US has provided another $40M in lending guarantees for Ukrainian businesses.

The US has provided another $40M in lending guarantees for Ukrainian businesses. The US Development Finance Corporation (DFC) and USAID have signed an agreement with Lviv Bank to provide $40M in portfolio guarantees. The agreement enables Ukrainian entrepreneurs to receive loans o...

One of Ukraine’s largest agricultural holdings increased its sugar exports by 400%, increasing profit by €20M.

One of Ukraine’s largest agricultural holdings increased its sugar exports by 400%, increasing profit by €20M. In the first nine months of 2024, Astarta agroholding increased revenue by 13%, to €441M, and profit by €20M (+35%), to €75.6M. Revenue from sugar production increased by 19% to €169M. The volume of s...

Two more factories will begin construction in a Kyiv region industrial park in 2025.

Two more factories will begin construction in a Kyiv region industrial park in 2025. According to the Business Development Director of the Bila Tserkva industrial park in the Kyiv region, Oleksandr Protsyuk, five factories are currently operating there, three are still under construct...

Tuesday, November 26

The number of internally displaced persons in Ukraine is rapidly increasing, but the population is also returning to the occupied regions.

The number of internally displaced persons in Ukraine is rapidly increasing, but the population is also returning to the occupied regions. The number of internally displaced persons (IDPs) in Ukraine continues to grow, said Maksym Tkachenko, member of the parliamentary Committee on Human Rights. According to him, there are currently appr...

Ukraine is increasing its exports of dairy products and launching a modern dairy farm in the Rivne region.

Ukraine is increasing its exports of dairy products and launching a modern dairy farm in the Rivne region. Exports of Ukrainian cheeses in January-October 2024 amounted to 10,100 tons, which is 40.3% more than in the same period last year. Revenue amounted to $43.7M, 34% more than last year. The largest bu...

Ukraine has reduced its gas imports by 86% after increasing its production.

Ukraine has reduced its gas imports by 86% after increasing its production. According to the DiXi Group, in 2023 the state imported 1.2 billion cubic meters of gas. However, in the first half of 2024 import volumes fell to 170 million cubic meters, 98% of which came from Hung...

Last year, financial and industrial groups in Ukraine earned almost ₴6T.

Last year, financial and industrial groups in Ukraine earned almost ₴6T. 23,300 companies that are part of Ukrainian financial and industrial groups (FIG) and submitted financial statements for 2023 collectively earned ₴5.8T, according to a YouControl study. As of October,...

Monday, November 25

Sweden and Lithuania are preparing investments in Ukrainian long-range weapon production.

Sweden and Lithuania are preparing investments in Ukrainian long-range weapon production. Sweden will soon announce the allocation of substantial funds for the development and production of long-range weapons for Ukraine, announced Swedish Defense Minister Poul Jonson. He said investments ...

Why did the IMF improve its economic forecast, and what are the key areas for Ukraine’s GDP growth?

Why did the IMF improve its economic forecast, and what are the key areas for Ukraine’s GDP growth? An IMF team has improved its economic growth forecast for Ukraine this year from 3% to 4%, as the Ukrainian economy has performed better than expected in the previous two quarters, IMF spokeswoman Jul...

How do sanctions against Russia work, and what new restrictions are being prepared for the aggressor?

How do sanctions against Russia work, and what new restrictions are being prepared for the aggressor? Moscow allocated $7B to purchase microelectronics for the military-industrial complex but was not able to complete the purchase due to sanctions, said the Presidential Commissioner for Sanctions Polic...

The Netherlands will provide grants of up to €4M to joint Ukrainian recovery ventures.

The Netherlands will provide grants of up to €4M to joint Ukrainian recovery ventures. The Netherlands Enterprise Agency (RVO) has launched a partnership program with Ukraine to restore the Ukrainian economy. In particular, a subsidy program will support Dutch companies and civil societ...

Ukrainian companies take the lead in applying for international tenders within the Drone Coalition.

Ukrainian companies take the lead in applying for international tenders within the Drone Coalition. Ukrainian manufacturers have become the leaders in the number of applications for international tenders to produce interceptor drones through the Drone Coalition, submitting 32% of the total. In advan...

The Mykolaiv region is repairing storage facilities for long-term storage of fruit and vegetable products.

The Mykolaiv region is repairing storage facilities for long-term storage of fruit and vegetable products. According to Olena Piskun, director of the Mykolaiv regional administration’s Department of the Agro-Industrial Complex, in the pre-war period 18 storage facilities for long-term storage of vege...

Several projects are being implemented in Ukraine to improve energy efficiency and energy independence for communities.

Several projects are being implemented in Ukraine to improve energy efficiency and energy independence for communities. The State Agency for Reconstruction has begun collecting applications from territorial communities to replace two million streetlights with energy-efficient models and also wants to equip 70 water uti...

Friday, November 22

International financial institutions will create $210M in risk-sharing mechanisms for Ukrainian enterprises.

International financial institutions will create $210M in risk-sharing mechanisms for Ukrainian enterprises. The IFC, the DFC, and Raiffeisen Bank Ukraine will create two risk-sharing mechanisms for Ukrainian enterprises worth $210M. Assistance will be allocated to small, medium, and large companies in Ukrai...

The 2024-2025 export season is potentially more successful than the previous two.

The 2024-2025 export season is potentially more successful than the previous two. The Ukrainian Agrarian Confederation believes that the current marketing year, from July 2024 to June 2025, may become more successful for Ukrainian grain traders and farmers than the previous two sea...

Housing is becoming more expensive in Ukraine; developers have started new projects.

Housing is becoming more expensive in Ukraine; developers have started new projects. In the third quarter of 2024, prices for residential real estate in Ukraine, compared to the same period in 2023, increased by an average of 11.7%. Prices for apartments on the primary market increase...

Italy expands its cooperation with Ukraine in critical raw material supply chains and invests €200M to restore the Ukrainian energy system.

Italy expands its cooperation with Ukraine in critical raw material supply chains and invests €200M to restore the Ukrainian energy system. Ukraine and Italy signed an agreement to deepen their logistics cooperation in critical raw materials. Attracting investment and encouraging innovation in the sphere’s development is one of Ukra...

In the summer of 2025, a new semi-finished food product factory with 250 jobs will be opened in Ternopil Oblast.

In the summer of 2025, a new semi-finished food product factory with 250 jobs will be opened in Ternopil Oblast. According to the Office of Sustainable Regional Development, a new factory that will produce wafer sheets and other dough-based products (tartlets, waffle cups for ice cream, dessert trays, etc.) will...

How have relocated Ukrainian businesses affected their new regions financially?

How have relocated Ukrainian businesses affected their new regions financially? Since the beginning of the full-scale war in Ukraine, an enterprise relocation program has existed. For the regions where these companies have moved, this means additional jobs and tax revenue. Accord...

Metinvest will cooperate with the Italian government to construct a €2.5B steel plant.

Metinvest will cooperate with the Italian government to construct a €2.5B steel plant. Ukrainian mining and metallurgical group Metinvest and the Italian Ministry of Enterprises signed a declaration of cooperation aimed at the revival of industry in the city of Piombino. The constructio...

Thursday, November 21

The NBU lifts some currency restrictions to support foreign trade and international technical assistance programs.

The NBU lifts some currency restrictions to support foreign trade and international technical assistance programs. On November 20, the National Bank made changes to currency restrictions. “On the one hand, the NBU eased several restrictions to support international cooperation in foreign trade and internatio...

The ruble has collapsed, and refineries are standing still: How is the Russian economy surviving as the third year of the war approaches?

The ruble has collapsed, and refineries are standing still: How is the Russian economy surviving as the third year of the war approaches? Almost all the available Russian economic resources have already been used, and the country finds itself in a unprecedented situation. The unemployment rate has fallen to a historic low of 2.4%, and t...

A relocated metal packaging manufacturer will soon open a plant in the Ternopil region.

A relocated metal packaging manufacturer will soon open a plant in the Ternopil region. Andrii Nemtsev, co-founder of the Favor company, relocated his operation from Sumy Oblast to Ternopil Oblast, and the construction of a new tin packaging factory in Ternopil Oblast, which began in May...

Spain has become the leading importer of Ukrainian agricultural products in the EU; how can Ukraine retain its consumers?

Spain has become the leading importer of Ukrainian agricultural products in the EU; how can Ukraine retain its consumers? Spain has become the main importer of Ukrainian agricultural products in Europe, and the primary trade strategy for this country is not to overheat its market with excessive exports to prevent a trade...

Wednesday, November 20

Ukraine has increased missile production and is preparing a financial basis for developing the domestic defense industry.

Ukraine has increased missile production and is preparing a financial basis for developing the domestic defense industry. Internal investment in weapons production and involving partners will form a reliable financial basis for the further development of the Ukrainian defense-industrial complex, President Zelenskyy said ...

Ukraine’s western regions have the most investment activity in the construction sector.

Ukraine’s western regions have the most investment activity in the construction sector. In 2024, the Western regions continued their leadership in the Ukrainian construction market in terms of investment flows, the amount of new housing construction, and price growth. For almost three ye...

During the 1,000 days of the war, Polish businesses have opened 300 companies in Ukraine and are preparing for its reconstruction.

During the 1,000 days of the war, Polish businesses have opened 300 companies in Ukraine and are preparing for its reconstruction. Experts believe that Ukraine can become the same opportunity for Polish companies as Poland was for German companies in the early 90s. Polish companies are not leaving Ukraine, although many are ̶...

Tuesday, November 19

In October, Ukraine’s GDP growth slowed three times, while the export figure exceeded the previous year’s volume.

In October, Ukraine’s GDP growth slowed three times, while the export figure exceeded the previous year’s volume. Ukraine’s economy grew by 4.2% over the 10 months of the year, and in October growth slowed to 1.3% against 3.8% in September, reports the Ministry of Economy. It is noted that the drivers of gr...

NEQSOL Holding, after the purchase of Ukraine’s titanium giant, attracts foreign companies to develop a new strategy for the enterprise.

NEQSOL Holding, after the purchase of Ukraine’s titanium giant, attracts foreign companies to develop a new strategy for the enterprise. NEQSOL Holding, the owner of the second-largest Ukrainian mobile operator, Vodafone Ukraine, has paid ₴3.94B to the state budget of Ukraine for the purchase at the privatization auction of the largest...

The EU has paid Russia over €200B for oil and gas since the start of the full-scale war.

The EU has paid Russia over €200B for oil and gas since the start of the full-scale war. Since the beginning of the Russian Federation’s full-scale invasion of Ukraine, Moscow’s income from the export of fossil fuels has reached almost €785B. Despite sanctions, the EU remains ...

State banks are displacing their competitors: How much did financial institutions earn in three quarters of the year?

State banks are displacing their competitors: How much did financial institutions earn in three quarters of the year? After paying taxes, 62 Ukrainian banks generated ₴117.63B ($2.8B) in profit for the first nine months of the year. Even though the banking sector’s tax rate increased significantly this year, to...

Monday, November 18

Ukraine passes Russia and becomes Germany’s leading trading partner among the post-Soviet countries.

Ukraine passes Russia and becomes Germany’s leading trading partner among the post-Soviet countries. Russia has lost its long-standing position and dropped to second place, according to data on German export and import operations for three quarters of the year, published by the German Committee on Ea...

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