Economy

Friday, April 18

In March, Ukraine’s tax revenues surpassed their target by $1B.

In March, Ukraine’s tax revenues surpassed their target by $1B. According to Finance Minister Serhiy Marchenko, this figure was made possible by a better-than-expected electricity supply during the winter, which enabled businesses to operate more consistently and ...

Ukrainian electricity prices rank among the highest in Europe.

Ukrainian electricity prices rank among the highest in Europe. In the first half of April, electricity prices in Ukraine have already exceeded those of neighboring countries such as Poland, Romania, Hungary, and Slovakia. They are 34% higher than in Germany and 2...

Thursday, April 17

The US has softened its demands for Ukraine to repay the aid it has provided before signing the mineral deal.

The US has softened its demands for Ukraine to repay the aid it has provided before signing the mineral deal. After negotiations in Washington, the Trump administration has revised the aid estimate down from $300B to $100B. However, the US continues to view the agreement as a way to recover costs for military...

Analysts compare the size of Ukraine’s shadow economy with those of other countries.

Analysts compare the size of Ukraine’s shadow economy with those of other countries. Prior to the full-scale war in 2021, Ukraine’s shadow economy was estimated to be around 30% of GDP. Last year, the Ministry of Economy reported that potentially 40% of the economy could take pl...

Ukrainian investors are interested in acquiring a Polish meat processing plant with €25M in annual turnover.

Ukrainian investors are interested in acquiring a Polish meat processing plant with €25M in annual turnover. According to Retail & Development Advisor, which is serving as the authorized representative for this asset’s sale, negotiations are underway with several investors. Since the onset of full-...

Ukraine’s economy is expected to grow by 3%, while inflation is anticipated to slow significantly.

Ukraine’s economy is expected to grow by 3%, while inflation is anticipated to slow significantly. ICU analysts observe that that the Ukrainian economy has shown modest growth since the third quarter of 2024, and predict a low probability of a substantial acceleration in recovery. The need to gradu...

The Ukrainian Parliament calls on the EU to extend trade benefits for exports.

The Ukrainian Parliament calls on the EU to extend trade benefits for exports. The Verkhovna Rada adopted an appeal to the European Parliament, the EC, and the Council of the EU, along with the parliaments and governments of EU member states, urging them to extend trade benefits...

What can drive the development of Ukraine’s construction industry?

What can drive the development of Ukraine’s construction industry? The introduction of project financing based on the European model, where the bank serves as a partner, controller, and guarantor for investors, could be a catalyst for the sector’s growth, accor...

Which countries are most welcoming to Ukrainian refugees and encourage their stay?

Which countries are most welcoming to Ukrainian refugees and encourage their stay? Many European nations are eager for Ukrainian refugees to remain, according to migration policy expert Andriy Haidutsky. He notes that these are mainly countries that have recognized the importance of...

Wednesday, April 16

The EU will soon present its plan to phase out Russian oil and gas imports.

The EU will soon present its plan to phase out Russian oil and gas imports. The EU intends to unveil a detailed strategy in May for the elimination of Russian oil and gas imports by 2027, driven by Russia’s full-scale invasion of Ukraine. However, the European Commission has ...

Budapest expresses concern over sentiment for Ukraine’s full integration into the EU economy prior to its accession to the bloc.

Budapest expresses concern over sentiment for Ukraine’s full integration into the EU economy prior to its accession to the bloc. Hungarian Foreign Minister Péter Szijjártó stated that several participants in the EU Council meeting on foreign affairs advocated for opening all chapters of negotiations regarding Ukraine’s ac...

The US plans to lower oil prices with Saudi Arabia’s assistance.

The US plans to lower oil prices with Saudi Arabia’s assistance. US Energy Secretary Chris Wright stated: “Under Trump’s presidency, we will likely see lower average energy prices in the next four years compared to the previous four years.” He hig...

The Epicentr hypermarket chain is planning to expand its grocery division.

The Epicentr hypermarket chain is planning to expand its grocery division. Currently, the Food Market chain within the Epicentr group of companies operates 26 retail outlets. “Unfortunately, part of the Food Market network was lost in shopping centers that were destroy...

Last year, a Ukrainian developer put over 500,000 square meters of new retail space into operation.

Last year, a Ukrainian developer put over 500,000 square meters of new retail space into operation. The total volume of construction work completed in Ukraine in 2024 rose by 15.5% compared to the previous year, reaching ₴204.7B, against a 25% increase in 2023. The non-residential construction secto...

Tuesday, April 15

Trump will leave Putin unable to fund his war.

Trump will leave Putin unable to fund his war. The decline in oil prices, triggered by US President Donald Trump’s trade war, has started to deplete the Russian military budget, despite the US president’s simultaneous efforts to improve relations ...

How much will Putin’s military machine gain from restarting Nord Stream 2?

How much will Putin’s military machine gain from restarting Nord Stream 2? Industry experts report that there has been interest shown by both the US and Russia in resuming the Nord Stream 2 gas pipeline’s operations, which would provide Putin’s military machine w...

Ukraine is boosting its dairy product exports amid a decline in domestic raw material prices.

Ukraine is boosting its dairy product exports amid a decline in domestic raw material prices. In March, Ukraine exported 12,270 tons of dairy products valued at $37.9M. Compared to February, physical export volumes rose by 20%, and compared to March 2024, by 44%. The largest receiving markets ...

A Ukrainian investment fund has acquired three more shopping malls in Poland.

A Ukrainian investment fund has acquired three more shopping malls in Poland. The Focus Estate Fund has invested in three shopping centers near Katowice, marking an important step in its expansion into the Polish market. These malls include Sosnowiec Plaza, Ruda Śląska Plaza, a...

What drove construction growth in Ukraine in 2024?

What drove construction growth in Ukraine in 2024? In 2023-2024, the Ukrainian construction market showed positive dynamics owing to increased economic activity in the central and western regions, as well as the restoration of infrastructure damaged i...

Ukraine has emerged as the world’s leading producer of FPV drones, manufacturing over 2.2 million UAVs annually, with the domestic defense industry capable of producing up to 10 million units.

Ukraine has emerged as the world’s leading producer of FPV drones, manufacturing over 2.2 million UAVs annually, with the domestic defense industry capable of producing up to 10 million units. During the Ukrainian Weapons 2024 briefing, Defense Ministry officials reported on the defense-industrial base’s rapid expansion in order to meet modern warfare’s demands. The CEO of Tenco...

The EC has announced the launch of the second phase of a competition to attract European businesses to Ukrainian recovery projects.

The EC has announced the launch of the second phase of a competition to attract European businesses to Ukrainian recovery projects. At the EU-Ukraine Business Summit, the European Commission revealed the initiation of the second round of the Call for Expressions of Interest under the Ukraine Investment Framework. This competition ...

The government has allocated ₴1.3B to complete 23 reconstruction projects.

The government has allocated ₴1.3B to complete 23 reconstruction projects. The Cabinet of Ministers has designated over ₴1.28B from the Fund for the Elimination of the Consequences of Armed Aggression to finish 23 reconstruction projects that broke ground in previous years. ...

Nearly 50% of Ukrainian retail operates in the shadows.

Nearly 50% of Ukrainian retail operates in the shadows. The extent of shadow activity in Ukrainian retail trade has reached a critical level: According to various estimates, up to 45% of all retail transactions may take place outside of Ukraine’s tax...

Poland leads the EU in the number of employed Ukrainians, but the attitude toward refugees is deteriorating.

Poland leads the EU in the number of employed Ukrainians, but the attitude toward refugees is deteriorating. Poland and Germany lead Europe in employing Ukrainians, according to the Institute of Demography and Social Research. The largest number of Ukrainians is employed in Poland, thanks to less stringent l...

Ukraine has a severe labor force shortage, prompting employers to seek help from pensioners.

Ukraine has a severe labor force shortage, prompting employers to seek help from pensioners. The personnel shortage is particularly acute in the capital, where there are 75,000 open vacancies, yet only 3,000 registered unemployed individuals, as stated by Yulia Zhovtyak, Director of the State...

Monday, April 14

Ukraine and the US have not made any progress in negotiations over a mineral deal, as Trump demands control of Russian gas transit.

Ukraine and the US have not made any progress in negotiations over a mineral deal, as Trump demands control of Russian gas transit. On April 11, US and Ukrainian officials held tense discussions regarding a mineral agreement between the countries. During the meeting, American representatives presented the Ukrainians with an update...

Trump has extended the previously imposed US restrictions on Russia while Kyiv prepares new shadow fleet sanctions.

Trump has extended the previously imposed US restrictions on Russia while Kyiv prepares new shadow fleet sanctions. US President Donald Trump signed an executive order extending sanctions against the Russian Federation, which were initially imposed in April 2021 by former US President Biden, due to the Russian gove...

The Ukrainian defense industry has ramped up cruise missile production by 700%.

The Ukrainian defense industry has ramped up cruise missile production by 700%. According to Herman Smetanin, Ukraine’s minister of strategic industries, last year Ukraine was able to produce only one cruise missile – the Neptune. However, last year the state launched many ...

Since the land market opened, only 3% of the total available agricultural land has been bought or sold; agribusinesses are reducing their land holdings.

Since the land market opened, only 3% of the total available agricultural land has been bought or sold; agribusinesses are reducing their land holdings. Since the market opened in July 2021, roughly 3% of Ukraine’s agricultural land has changed hands, averaging about 1% per year. The price of land has risen from ₴34,000 to ₴54,000 per hectare, a...

European banks are providing Ukraine with funding to support housing for internally displaced persons and restore critical infrastructure.

European banks are providing Ukraine with funding to support housing for internally displaced persons and restore critical infrastructure. Consequently, Ukraine will receive €50M from the Council of Europe Development Bank (CEB) to finance a preferential mortgage program for families of internally displaced persons (IDPs). “These f...

Friday, April 11

Hungary has promised to support sanctions targeting Russia if Putin refuses a truce.

Hungary has promised to support sanctions targeting Russia if Putin refuses a truce. Hungarian Foreign Minister Peter Szijjártó confirmed that Hungary may back Western sanctions against Russia if Donald Trump employs them to penalize Russian leader Vladimir Putin for the Kremlin’...

The US has come up with a way to combat the Russian shadow fleet while also addressing its national debt through a single solution.

The US has come up with a way to combat the Russian shadow fleet while also addressing its national debt through a single solution. A new bill has been introduced in the US aimed at tackling Russia’s shadow fleet of tankers that that are employed to transport oil, circumventing Western sanctions related to the war in Ukraine...

The Mineral Deal: Ukraine will insist on parity between the parties in managing the investment fund.

The Mineral Deal: Ukraine will insist on parity between the parties in managing the investment fund. The technical round of negotiations between Ukraine and the US regarding the mineral agreement will take place on April 11-12 in Washington. Ukraine’s delegation will be led by Deputy Minister o...

Ukraine will lose its current preferential trade conditions with the EU in June.

Ukraine will lose its current preferential trade conditions with the EU in June. The European Commission will not initiate an extension of the autonomous trade measures introduced in 2022 to support Ukrainian exports, which expire on June 5, said EU Agriculture Commissioner Christ...

A new shopping mall is set to be built in the Lviv region, while JYSK enhances its stores’ efficiency.

A new shopping mall is set to be built in the Lviv region, while JYSK enhances its stores’ efficiency. In the Lviv region, near the entrance to the city of Vynnyky, plans are underway to construct a large shopping mall that will feature a supermarket, various shops, food outlets, a children’s pla...

How will US tariffs affect Ukrainian exporters?

How will US tariffs affect Ukrainian exporters? Deputy Minister of Economy Taras Kachka said: “The US is projected to receive $870M in Ukrainian exports in 2024, which is an increase compared to 2023. About 41% of our exports to the US last y...

Kovalska will become one of Ukraine’s largest producers of aerated concrete after completing the launch of a new €100M plant.

Kovalska will become one of Ukraine’s largest producers of aerated concrete after completing the launch of a new €100M plant. The Kovalska Industrial and Construction Group is finalizing preparations for the initial phase of a modern autoclaved aerated concrete facility with an annual production capacity of nearly 600,000 cu...

Kingspan will begin construction of a €280M plant, while a large textile manufacturer is establishing a new factory in Ukraine.

Kingspan will begin construction of a €280M plant, while a large textile manufacturer is establishing a new factory in Ukraine. The State Inspectorate for Architecture and Urban Planning of Ukraine has issued a permit for the construction of a building materials plant in the Lviv region to Kingspan Property, a subsidiary of Ir...

In the first quarter, prices in Ukraine’s secondary residential real estate market increased across all regions.

In the first quarter, prices in Ukraine’s secondary residential real estate market increased across all regions. According to LUN, a real estate search engine, Kyiv fell to third place behind Uzhhorod in the one-room apartment segment, where the average cost of a one-room apartment rose by 16% over six months, r...

Thursday, April 10

Ukraine’s European partners are increasing their support for the reconstruction: How much money is being provided, and which projects are prioritized?

Ukraine’s European partners are increasing their support for the reconstruction: How much money is being provided, and which projects are prioritized? Ukraine and Switzerland have signed an agreement amending the memorandum between the Ministry of Economy and the Swiss State Secretariat for Economic Affairs (SECO), which calls for a 100% increase in...

Businesses call for the restoration of Mykolaiv port operations and ensuring Kherson’s security to enhance export efficiency.

Businesses call for the restoration of Mykolaiv port operations and ensuring Kherson’s security to enhance export efficiency. Ukrainian business has urged the government to reopen the Mykolaiv port and facilitate the evacuation of vessels that have been blocked since the onset of the full-scale invasion. Additionally, the EB...

The EU reports record agricultural export volumes, with Ukraine a leading exporter to the bloc.

The EU reports record agricultural export volumes, with Ukraine a leading exporter to the bloc. EU agri-food exports reached a historic €235.4B last year, marking a 3% increase compared to 2023. Grain, dairy products, and wine top the list of goods exported from the EU. In terms of its share of ...

Trump’s tariffs could severely impact Russia’s oil revenue.

Trump’s tariffs could severely impact Russia’s oil revenue. While Moscow has managed to evade US President Trump’s tariffs, the Russian budget will still endure consequences from Washington’s trade war. The Telegraph reports that a threat to Russia has emerged...

The largest private railway freight operator in Ukraine plans to build a modern container terminal in Fastiv.

The largest private railway freight operator in Ukraine plans to build a modern container terminal in Fastiv. Last year, Lemtrans transported 15.9 million tons of cargo and aims to establish a container terminal in Fastiv (Kyiv region) that will serve as a strategic logistics hub for both the region and the c...

Ukraine is seeking an investor for oil and gas fields in western Ukraine, while Ukrnafta will develop a hydrocarbon field previously claimed by Chevron.

Ukraine is seeking an investor for oil and gas fields in western Ukraine, while Ukrnafta will develop a hydrocarbon field previously claimed by Chevron. The government has approved two competition proposals for two areas in western Ukrainian oil and gas fields in the area of Mezhyhirsk and Svichansk, located within the Lviv, Ivano-Frankivsk, and Chern...

Wednesday, April 9

The EU has offered Trump a trade truce, but the White House demands financial “reparations” and $350B in energy purchases.

The EU has offered Trump a trade truce, but the White House demands financial “reparations” and $350B in energy purchases. On April 7, EU ministers agreed to prioritize negotiations over countermeasures in response to US President Donald Trump’s tariffs, which impact 70% (€380B) of total European exports. European C...

Czechia spent €8.2B on Russian oil and gas last year despite the availability of alternatives.

Czechia spent €8.2B on Russian oil and gas last year despite the availability of alternatives. According to the CSD, the Czech Republic’s expenditure of over €8.2B on Russian hydrocarbons in the previous year is 500% greater than the aid it has provided to Ukraine since the onset of the full-sc...

ICU downgrades Ukraine’s economic growth forecast to 3% for 2025, down from the previous outlook of 3.4%.

ICU downgrades Ukraine’s economic growth forecast to 3% for 2025, down from the previous outlook of 3.4%. A report from the ICU investment company notes that Ukraine’s real GDP increased by only 2.9% in 2024, significantly below market expectations and their earlier forecasts. Economic growth weakened con...

Despite the insignificant impact of Trump’s tariffs on Ukraine, it is ready to zero out tariffs on American products and negotiate with the US.

Despite the insignificant impact of Trump’s tariffs on Ukraine, it is ready to zero out tariffs on American products and negotiate with the US. For Ukraine, the predominant negative consequence of the global trade war may be lower volumes of macro-financial assistance from European partners economically weakened by tariffs. In addition, Ukrai...

Ukrainian cement and concrete producers are poised to increase their capacity to meet reconstruction demands.

Ukrainian cement and concrete producers are poised to increase their capacity to meet reconstruction demands. According to CBR, even amidst high uncertainty with reduced international financing and severely limited Ukrainian budget resources, cement producers and consumers are ready to quickly restore and exp...

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