Economy

Monday, July 22

Ukrainian and Polish businesses sign a cooperation agreement in Warsaw.

Ukrainian and Polish businesses sign a cooperation agreement in Warsaw. More than 200 representatives of Ukrainian and Polish businesses met in Warsaw as part of the Business in the City event. The parties signed an agreement on cooperation between Diia.Business in Warsaw...

Since the beginning of the year, Ukraine has increased its export of agricultural products by 5%.

Since the beginning of the year, Ukraine has increased its export of agricultural products by 5%. According to the Ukrainian Agricultural Export Association, in the first half of the year exports of agricultural products from Ukraine amounted to about $12.4B, 5% more than in the corresponding peri...

A large fertilizer producer has built its own 30 MW power generation plant and loaded production at 100%.

A large fertilizer producer has built its own 30 MW power generation plant and loaded production at 100%. Rivneazot has completed the construction of its electricity generation facility, and 100% loading of production capacities has been achieved. The enterprise can now produce up to 30 MW/h of electricit...

A Turkish company built a ₴400M plant for energy equipment production in the Kyiv region.

A Turkish company built a ₴400M plant for energy equipment production in the Kyiv region. In Bilogorodka, Kyiv region, the construction of the Dalgakiran Compressor Ukraine plant of the Turkish energy company Dalgakiran was completed. The total amount of investment is approximately ₴400M (...

Friday, July 19

Ratification of the free trade agreement will quickly increase trade between Ukraine and Turkey by $2.5B per year.

Ratification of the free trade agreement will quickly increase trade between Ukraine and Turkey by $2.5B per year. Ambassador of Ukraine to Turkey, Vasyl Bodnar, noted: “Turkey traditionally plays an important role in Ukraine’s foreign trade. In 2023, the total trade volume was approximately $7.5B. Aft...

The government proposes increasing budget expenditures by more than ₴500B and raising taxes to obtain an additional ₴140B.

The government proposes increasing budget expenditures by more than ₴500B and raising taxes to obtain an additional ₴140B. Ukraine’s government approved changes to the state budget that include a proposed spending increase of ₴500.3B, of which ₴495.3B would be directed to the security sector and defense. The head of...

The World Bank will finance Ukraine’s private sector with $1B through 2027.

The World Bank will finance Ukraine’s private sector with $1B through 2027. Deputy Minister of Economy Oleksiy Sobolev noted that over the past 1.5 years, the scope of joint work between the Ministry and the World Bank has grown significantly in many areas. Among other things...

The Danube shipping company will transport the grain of one of Ukraine’s largest agricultural holdings to Constanta, Romania.

The Danube shipping company will transport the grain of one of Ukraine’s largest agricultural holdings to Constanta, Romania. Agrarian holding Nibulon announced the beginning of partnership cooperation with the Ukrainian Danube Shipping company (UDP). The contract’s terms provide for using one caravan of the UDP fleet ...

Thursday, July 18

The G7 agrees to distribute a $50B Ukrainian loan from revenues from frozen Russian assets, and Moscow continues to send new threats.

The G7 agrees to distribute a $50B Ukrainian loan from revenues from frozen Russian assets, and Moscow continues to send new threats. The G7 members are currently negotiating the allocation of aid to Ukraine following the agreement that the G7 leaders reached in June at the summit in Italy to provide a $50B loan backed by proceeds f...

The largest shopping mall in Ukraine and Eastern Europe switches to imported electricity to stabilize its operations.

The largest shopping mall in Ukraine and Eastern Europe switches to imported electricity to stabilize its operations. Against the background of the difficult situation with the country’s energy system, the Respublika Park shopping center switched to using imported electricity. Earlier, the Gulliver shopping cen...

The EU is investing a record €7B in transport infrastructure, including four Ukrainian projects.

The EU is investing a record €7B in transport infrastructure, including four Ukrainian projects. The European Commission selected 134 transport projects that will receive more than €7B in grants from the Connecting Europe Facility (CEF) instrument for strategic infrastructure investment. Among th...

Ukraine’s partners allocate hundreds of millions for reconstruction and preparation for the coming winter.

Ukraine’s partners allocate hundreds of millions for reconstruction and preparation for the coming winter. The government of Belgium agreed to provide €150M in financing for Ukrainian reconstruction projects. Part of the funds will be directed to restoring energy and social infrastructure in the Kyiv and C...

Russian oligarchs might be offer to provide money for Ukraine’s reconstruction in exchange for the lifting of individual sanctions.

Russian oligarchs might be offer to provide money for Ukraine’s reconstruction in exchange for the lifting of individual sanctions. The cost of financing the post-war rebuilding of Ukraine, which exceeds $500B, requires the study of numerous financing mechanisms. Additional funds can be provided by the creation of a new type of di...

The most expensive privatization projects from the first half of the year: Where have businesses invested?

The most expensive privatization projects from the first half of the year: Where have businesses invested? The State Property Fund of Ukraine published a list of the most expensive lots sold in the first half of 2024. The leader was the Kyiv Experimental Prosthetic and Orthopedic Enterprise, for which 14 p...

Retail trade leaders increased their incomes by almost 23%.

Retail trade leaders increased their incomes by almost 23%. The combined income from the largest companies in the Retail Trade Index last year amounted to ₴457.32B (+23% by 2022). ATB-Market remains the leader in retail trade. ATB received almost 40% of the co...

In the next 10 years, Ukraine will continue to suffer from a labor shortage.

In the next 10 years, Ukraine will continue to suffer from a labor shortage. According to OLX Robota research, 67% of employers in Ukraine have already faced a personnel crisis, caused by mobilization and the population’s migration abroad. Companies solve the problem dif...

Wednesday, July 17

ECA supported Ukrainian exports by ₴4.6B in half a year, the indicator increased by 150%.

ECA supported Ukrainian exports by ₴4.6B in half a year, the indicator increased by 150%. In the first half of the year, the Export Credit Agency of Ukraine increased the volume of export support by almost 150% compared to the corresponding period last year – up to ₴4.6B. It is noted...

In Ukraine’s foreign trade, imports still significantly prevail over exports.

In Ukraine’s foreign trade, imports still significantly prevail over exports. According to the State Statistics Service, Ukraine imported goods worth $27.55B in January- May, which is 8.3% more than last year’s corresponding period. At the same time, exports increased by ...

One more Russian industry has problems with exports due to the strengthening of American sanctions and the mass blocking of bank payments.

One more Russian industry has problems with exports due to the strengthening of American sanctions and the mass blocking of bank payments. Thus, Russian metallurgists faced a sharp drop following coal companies, which lost 17% of exports in January-June. According to Russian Railways, the export of metals by rail decreased by 14% compare...

Tuesday, July 16

In June, Ukrainians’ consumer sentiment worsened sharply.

In June, Ukrainians’ consumer sentiment worsened sharply. The Ukrainian consumer sentiment index decreased by eight points in June to 64.5. According to a study, all components of the indicator decreased. The index of the current situation has decreased to 5...

Ukraine suffers from a shortage of building materials; industry professionals offer ways to solve the problem.

Ukraine suffers from a shortage of building materials; industry professionals offer ways to solve the problem. The CEO of Konstruktiv, a company distributor of building materials, Volodymyr Horoshchuk, said that due to the war and the need for reconstruction, the company faces a critical question: Where can th...

War risk insurance will initially focus on retail products.

War risk insurance will initially focus on retail products. According to NBU department director Pervin Dadashova, the NBU is finalizing work on a draft law that will establish a full-fledged military insurance system, which, for the first time, will focus on ...

Ukraine’s Ministry of Defense wants domestic companies to be able to export weapons; otherwise, they will move abroad.

Ukraine’s Ministry of Defense wants domestic companies to be able to export weapons; otherwise, they will move abroad. Director of the Defense Procurement Agency of the Ministry of Defense, Maryna Bezrukova, believes that Ukrainian companies should be able to export a portion of the weapons they produce. She confirmed...

Monday, July 15

Despite a slowdown in the second quarter, the GDP grew by 4.1% in the first half of the year.

Despite a slowdown in the second quarter, the GDP grew by 4.1% in the first half of the year. In June, Ukraine’s GDP grew by 1.1% compared to June last year. However, Ukraine’s economic growth continues to slow down – in May, GDP grew by 3.7%, in April – by 4.3%. The Ministry of Ec...

Deposit yields in Ukraine continue to fall, but loan rates are also falling.

Deposit yields in Ukraine continue to fall, but loan rates are also falling. In June, the average interest rates on new hryvnia consumer deposits amounted to 10.8% per annum, 0.2 percentage points lower than a month ago, according to the National Bank. Interest rates on new de...

Transcarpathia is investing more than €36M in a processing industrial park.

Transcarpathia is investing more than €36M in a processing industrial park. A new industrial park, EKO Mukachevo, will be constructed in the city of Mukachevo in Transcarpathia. According to the park’s concept, processing enterprises will be created in the industrial pa...

Ukraine is developing winemaking and is looking for an investor for an agricultural company with rare wine cellars in Transcarpathia.

Ukraine is developing winemaking and is looking for an investor for an agricultural company with rare wine cellars in Transcarpathia. The head of the State Property Fund (SPFU), Vitaliy Koval, said that Transcarpathia has ambitious plans to develop its wine industry. In particular, the Leanka enterprise, known for its unique wine ce...

Friday, July 12

Ukrainian companies are developing the newest Turkish fighter jet.

Ukrainian companies are developing the newest Turkish fighter jet. Ukrainian companies are participating in developing the KAAN, Turkey’s fifth-generation fighter jet, Ukrainian Ambassador to Turkey Vasyl Bodnar said. As he specified, Ukrainian companies have j...

New housing in Ukraine will become more expensive: Experts name the reasons.

New housing in Ukraine will become more expensive: Experts name the reasons. According to Gazda, a Ukrainian construction company, the price of residential objects that will begin construction in the second quarter is set at the level of ₴45-47 per $1. The price per square met...

Thursday, July 11

The state, Ukrainians, businesses, and international partners are contributing hundreds of millions to restore the Okhmadyt hospital that was destroyed by the Russians.

The state, Ukrainians, businesses, and international partners are contributing hundreds of millions to restore the Okhmadyt hospital that was destroyed by the Russians. Another ₴300M ($7.5M) will be allocated from the state budget in addition to the ₴100M that was already announced for the restoration of the Okhmadyt Children’s Hospital in Kyiv, which was shell...

Annual inflation in Ukraine jumped to almost 5%, pushed up by electricity tariffs.

Annual inflation in Ukraine jumped to almost 5%, pushed up by electricity tariffs. Inflation in Ukraine accelerated to 4.8% in June compared to the same month in 2023, the State Statistics Service reports. At the same time, in the previous three months, this indicator went almost un...

The Ukrainian government clarified its 2024 forecast for developing the Ukrainian economy.

The Ukrainian government clarified its 2024 forecast for developing the Ukrainian economy. The Ministry of Economy updated its statistical data and revised their assumptions and forecast for Ukraine’s economic and social development in 2024. Accordingly, by the end of 2024, nominal GD...

Wednesday, July 10

The Ukraine Facility has been fully launched: Ukraine will receive €5.3B in grants.

The Ukraine Facility has been fully launched: Ukraine will receive €5.3B in grants. The Minister of Economy of Ukraine, Yulia Svyrydenko, signed the Financial Agreement between Ukraine and the EU that regulates the receipt of €5.27B in grant aid under the Ukraine Facility over the ne...

The Agricultural Investment Fund expects that leasing state land will bring ₴1B this year.

The Agricultural Investment Fund expects that leasing state land will bring ₴1B this year. The Agrarian Investment Fund state enterprise manages 104,000 hectares of state agricultural land. According to the foundation’s chairman, Yaroslav Yaroslavskyi, the fund’s task is to gene...

Ukrainians are ready for EU tax norms but are not prepared for an immediate tax increase.

Ukrainians are ready for EU tax norms but are not prepared for an immediate tax increase. Most Ukrainians (52%) are inclined to believe that the tax policy should correspond to EU taxation, according to survey data from the Razumkov Center. At the same time, 35% of respondents believe this...

Production of all major metallurgy products has increased in Ukraine.

Production of all major metallurgy products has increased in Ukraine. In the first half of the year, Ukrainian enterprises increased the production of cast iron by 22.3% (3.47 million tons), steel by 37% (3.87 million tons) and rolled products by 32.2% (3.14 million ton...

Poland fears the outflow of Ukrainian workers due to mobilization regulations.

Poland fears the outflow of Ukrainian workers due to mobilization regulations. Polish recruitment agencies predict that Ukrainian men will gradually move from Poland to countries further west in the EU. Ukrainians with military service obligations, particularly those abroad, hav...

How did Ukraine’s retail food industry develop in June?

How did Ukraine’s retail food industry develop in June? The Fora supermarket chain, operated by Fozzy Group, followed the successful opening of its first location in the Lviv Oblast by immediately opening a supermarket in Mykolaiv and another in Vinnytsia ...

Tuesday, July 9

The NBU has assessed the consequences of the continuing electricity shortage: The demand for workers is falling, the number of emigrants is increasing, and economic activity is weakening.

The NBU has assessed the consequences of the continuing electricity shortage: The demand for workers is falling, the number of emigrants is increasing, and economic activity is weakening. In Ukraine, economic activity weakened in June, and entrepreneurs worsened their business expectations, primarily due to prolonged power outages and a lack of workers in the labor market, according to...

The White House is in no hurry to increase pressure on the Russian shadow fleet due to a possible negative impact on the cost of energy carriers on the eve of the elections.

The White House is in no hurry to increase pressure on the Russian shadow fleet due to a possible negative impact on the cost of energy carriers on the eve of the elections. Officials at the US Treasury Department have proposed new restrictions designed to halt a fleet of aging oil tankers that help transport Russian oil in defiance of international sanctions. However, as...

Ukraine must continue to target Russian oil refineries in order to weaken the aggressor’s economy.

Ukraine must continue to target Russian oil refineries in order to weaken the aggressor’s economy. This year, Ukraine has struck at least 20 oil facilities in Russia with its drones. According to analysts, as of the end of March these strikes have reduced the production of light petroleum products ...

Famous international brands are slowly but steadily returning to Ukraine.

Famous international brands are slowly but steadily returning to Ukraine. The Danish company JYSK and the multi-brand company Argo were among the first to adapt to the new wartime realities of operating in Ukraine when they opened stores as early as March 2022. In April, th...

Half a million hectares were sold in three years. How much is the land worth?

Half a million hectares were sold in three years. How much is the land worth? After the opening of Ukraine’s land market, 567,322 hectares of agricultural land were sold. In total, 253,416 land plots were sold at an average price of ₴41,000 ($1,007 at the current exchange...

Monday, July 8

Due to debt repayment, Ukraine’s international reserves decreased by 2.9% to $37.9B.

Due to debt repayment, Ukraine’s international reserves decreased by 2.9% to $37.9B. As noted by the National Bank, June’s dynamics were caused by the NBU’s currency interventions to cover the market’s currency deficit and smooth out exchange rate fluctuations and th...

New industrial parks will create 4,500 jobs in three regions of Ukraine.

New industrial parks will create 4,500 jobs in three regions of Ukraine. Three new industrial parks will be constructed in the Volyn, Lviv, and Ivano-Frankivsk regions. Since the beginning of the year, 16 new industrial parks have already been included in the register. Thi...

The restoration of Mykolaiv’s ports will make logistics cheaper and increase Ukrainian exports.

The restoration of Mykolaiv’s ports will make logistics cheaper and increase Ukrainian exports. Since the beginning of the full-scale invasion, the ports of Mykolaiv have remained blocked: the enemy is close to the Dnipro–Bug estuary and controls access to the sea. Restoring the entire operation...

Friday, July 5

Ukraine paralyzed the work of a Russian metallurgical plant that is critical for its defense industry.

Ukraine paralyzed the work of a Russian metallurgical plant that is critical for its defense industry. On the night of July 1, the Main Directorate of Intelligence and the Foreign Intelligence Service, paralyzed operations at the Oskol Electrometallurgical Plant (OEMK). This plant is the only full-cycl...

The government predicts an acceleration of inflation in the coming months.

The government predicts an acceleration of inflation in the coming months. As noted by the Ministry of Economy, in January through May the trend of slowing inflation continued; consumer inflation was the lowest in recent years – 2% since the beginning of the year. Annual inf...

The war has helped Russia move up in the ranks of countries with a high-income level.

The war has helped Russia move up in the ranks of countries with a high-income level. For two years, the Russian economy ignored the sanctions levied against it and grew steadily, which has led the World Bank to raise the Russian Federation’s income level rating from an “ab...

Closure of individual enterprises in Ukraine increased by 54% and companies by 15%, but the registration of new businesses is also growing.

Closure of individual enterprises in Ukraine increased by 54% and companies by 15%, but the registration of new businesses is also growing. According to analysts, almost 92,000 individual entrepreneurs (FOP) ceased their activities in Ukraine in the first half of the year, which is 54% more than in the same period last year. The most sign...

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