Economy

Wednesday, November 6

The parliament names the most profitable building materials production projects for investment.

The parliament names the most profitable building materials production projects for investment. Head of the Verkhovna Rada committee on urban planning, Olena Shulyak, said that before the war the construction industry traditionally accounted for 4% of Ukraine’s GDP. At the same time, durin...

Ukraine’s investment climate shows signs of improvement.

Ukraine’s investment climate shows signs of improvement. Ukraine’s investment attractiveness index increased to 2.49 points in 2024 (out of a possible five) from 2.44 points in 2023, according to a survey by the EBA, in which 80 top managers of intern...

Tuesday, November 5

The IMF criticizes the 50% tax rate on banks’ profits and advises Ukraine to increase its internal financing sources.

The IMF criticizes the 50% tax rate on banks’ profits and advises Ukraine to increase its internal financing sources. The deputy head of the IMF mission in Ukraine, Trevor Lessard, noted that the introduction of a 50% tax on bank profits for the second year in a row contradicts the nature of taxing excess profits, un...

Trade between the EU and Russia falls to a 25-year low, though Slovakia is buying more Russian goods.

Trade between the EU and Russia falls to a 25-year low, though Slovakia is buying more Russian goods. Russia continues to lose economic ties with its once-largest trading partner, the EU, and according to August’s results, deliveries of goods to Russia from European countries decreased by 18% compared...

A Saudi fund with assets in Ukraine wants to purchase a Russian grain terminal.

A Saudi fund with assets in Ukraine wants to purchase a Russian grain terminal. Salic, the Saudi Agricultural and Livestock Investment Co. owned by the Public Investment Fund of Saudi Arabia, is buying a company that owns several agricultural assets in Russia. One of these assets...

Land prices for individuals have increased by 10% since the commercial land market opened.

Land prices for individuals have increased by 10% since the commercial land market opened. In a new analytical review of the land market by the KSE, it is reported that after the opening of Ukraine’s agricultural land market for companies, prices for transactions involving individuals have ...

A Polish container rail transport operator is expanding its business in Ukraine and searching for a location to construct a terminal.

A Polish container rail transport operator is expanding its business in Ukraine and searching for a location to construct a terminal. Polish logistics company Laude Smart Intermodal from Toruń, which controls 33% of the container rail transport market in Ukraine, is preparing a large-scale expansion of its activities. Despite the wa...

Danube ports need 150,000 tons of cargo monthly so as not to lose their developed potential.

Danube ports need 150,000 tons of cargo monthly so as not to lose their developed potential. Danube ports cannot compete for export cargo; if it is not possible to export goods through Odesa, the business will be reoriented to EU ports, the Ukrainian Danube Shipping Company (UDP) reported. &#...

In October, Ukraine exported goods worth $3.8B, a record for the year.

In October, Ukraine exported goods worth $3.8B, a record for the year. Last month, Ukraine exported goods worth more than $3.8B, 18.7% more than in September. This is the highest indicator for 2024 so far. Since the beginning of the year, the export of goods has reached ...

Monday, November 4

Ukraine has developed and plans to produce air defenses and ballistic missiles soon.

Ukraine has developed and plans to produce air defenses and ballistic missiles soon. Kyiv can start making its own ballistic and cruise missiles as early as the middle of 2025, said Director of the state enterprise Spetstechnoexport, Oleksiy Petrov. According to him, flight tests of U...

The World Bank will provide almost $600M in financing for Ukrainian businesses, and USAID provides $6M to four companies to increase exports.

The World Bank will provide almost $600M in financing for Ukrainian businesses, and USAID provides $6M to four companies to increase exports. The World Bank is starting a new $593M program to support small and medium-sized businesses in Ukraine. The financing consists of $283M from the ADVANCE Ukraine trust fund (from Japan), $300M from the...

Social benefits to Ukrainians cost Germany €539M per month: The employment program has failed.

Social benefits to Ukrainians cost Germany €539M per month: The employment program has failed. The German Audit Office (BRH) has published a report claiming that the government program for simplified employment of Ukrainians, Job-Turbo, has not yielded beneficial results. The program was expect...

Ukrainian businesses continue to expand despite the war: What new shops and restaurants opened in Ukraine last week?

Ukrainian businesses continue to expand despite the war: What new shops and restaurants opened in Ukraine last week? Retailer Varus returned to the development of its network in the Kyiv region, and on November 2 the company opened its first supermarket in the Varus Home format in Bilogorodka. The new store became t...

Friday, November 1

Another million Ukrainians are at risk of displacement due to the war, and hundreds of thousands will return from the EU after their social benefits are cut.

Another million Ukrainians are at risk of displacement due to the war, and hundreds of thousands will return from the EU after their social benefits are cut. The Assistant Secretary General of the UN for European Affairs, Miroslav Jenca, said that due to the war, millions of people living in the east or south of Ukraine may be forced to leave their homes. ...

Hotel Ukraine has a new owner, while the Bilhorod-Dnistrovskyy port still belongs to the state.

Hotel Ukraine has a new owner, while the Bilhorod-Dnistrovskyy port still belongs to the state. The winner of the auction for the privatization of the Hotel Ukraine paid ₴2.5B and ₴502M in VAT, delivering more than ₴3B to Ukraine’s coffers. With that, according to the Ministry of Economy, ...

Croatian Orbico acquires a controlling interest in one of the largest Ukrainian distributors of food and goods.

Croatian Orbico acquires a controlling interest in one of the largest Ukrainian distributors of food and goods. General Director of Sav Orbico, Andrii Makhovskyi, announced that Croatian company Orbico Group bought a controlling stake (51%) in one of the largest Ukrainian distributors of everyday goods, Savserv...

Through a digital investment portal, KSE and the Ministry of Economy seek investors for projects worth €2.1B.

Through a digital investment portal, KSE and the Ministry of Economy seek investors for projects worth €2.1B. Thirty-one new projects representing a total amount of €2.1B have been added to Ukraine’s investment portal, created by the Ministry of Economy and the Kyiv School of Economics with support from...

Germany has significantly increased its Ukrainian grain imports since the start of the war.

Germany has significantly increased its Ukrainian grain imports since the start of the war. The German federal government confirms the increase in Ukrainian grain imports and, at the same time, denies any negative impact from this on its market. Grain imports have grown since 2022, when the ...

Thursday, October 31

Russia’s upcoming financial crisis may provide a chance to end the war.

Russia’s upcoming financial crisis may provide a chance to end the war. The Foundation for Defense of Democracies notes that the Kremlin plans to spend $145B of its total $436B state budget on defense in 2025. This is more than 6.3% of Russia’s GDP, and the country’...

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 ...

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