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... #EraDablaNorris #imf #TaxesUkraine #TaxIncrease #ukrainedebt #UkraineEconomicForecast #UkraineEconomy
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... #BankDeposits #financeUkraine #HryvniaDeposits #UkrainianBanks
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... #kyiv #Odesa #PrivatizationUkraine #SPFU #UkraineBudget #Львів
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... #BusinessDevelopment #BusinessExpectation #UkraineEconomy #UkraineExport #ukrainianbusiness
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... #EBA #ElectricityGeneration #EnergyIndependence #energyukraine #ukrainianbusiness
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... #DemurinskyMiningPlant #investments #MiningIndustry #NEQSOL #Nikopol #TitaniumMining #UMCC
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 ... #AlexanderKamyshin #DefenseIndustryUkraine #DroneProduction #IvanGavryliuk #UkrainianDrone #WeaponsProduction
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... #EPAM #GlobalLogic #Luxoft #Monobank #Playtika #UkrainianITcompany
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... #Poland #PolandApartments #RealEstatePoland #UkrainiansAbroad
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... #EITFood #EU4Business #GoogleCloud #MercyCorps #SupportBusiness #UkraineEnterpreneurs
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.... #agroexportukraine #AgroImportUkraine #UkraineExport #UkraineMaritimeCorridor #Ukrainiangrain
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... #imf #LaborMarket #RefugeesFromUkraine #RefugeesIntegration #WorkForRefugees
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 ... #IvanoFrankivsk #kyiv #UkraineEconomy #UkraineTourism #Львів
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,... #GOROMountainResort #investments #okko #SkiResorts #Львів
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... #MetallurgyRussia #Russiaexport #RussianEconomy #RussianLNG #RussiaProfits #SanctionsAgainstRussia
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... #agroexportukraine #AttackOnOdesa #GlobalFoodSecurity #MiroslavJenča #SeaPortsUkraine #Ukrainiangrain #WorldWheatPrices
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... #CriticalInfrastructure #DeminingUkraine #France #infrastructureUkraine #UkraineReconstruction
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 ... #DemographyUkraine #FlorenceBauer #UkrainePopulation #UkraineRefugees #WarinUkraine
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... #EUCouncil #Hungary #Poland #SanctionsAgainstRussia #USelections #VictoryPlan
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... #Putin #RussianEconomy #RussianEnergyExport #RussiaProfits #Zelenskyy
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 ... #AirlinesofUkraine #CargoAir #CargoPlanes #ConstantaAirline #WorldFoodProgram
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... #EBA #EuropeanIntegration #SociologicalSurvey #UkraineEconomy #ukrainianbusiness
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... #DFC #investments #MIningMineralsUkraine #MiningUkraine #NEQSOL #UkraineSubsoil
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... #GreenMetallurgy #MetallurgyUkraine #Poland #PolishBusiness #UkraineSteelExport
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... #AgroLand #Cherkasy #FarmLandSale #UkraineLandBank #VolynRegion #Львів
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... #CustomsUkraine #imf #IMFStructuralBeacons #ReformsinUkraine #Ukrenergo
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 ... #DefenseIndustryUkraine #DroneProduction #RustemUmerov #UkrainianWeapons #WeaponsExport #Zelenskyy
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... #BusinessExpansion #DmytroDubrovskyi #investments #Taxi #Uklon #UklonTaxi
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 ... #Austria #EnergyIndependence #GasTransit #RussianGas #Slovakia #TurkishStream #UkraineGTS
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... #DeminingUkraine #UkraineEconomy #UkrainianSappers #UMAC2024 #WarinUkraine #YuliyaSvyridenko
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... #Azerbaijan #GasstorageUkraine #GasTransit #Slovakia #UkraineGTS
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... #Aeroc #BelgorodDniestrovskySeaPort #investments #PrivatizationUkraine #ProstheticFactory #SPFU
Despite the challenges of the war, the size of the average deal in the Ukrainian M&A market continues to grow. According to KPMG, activity in the Ukrainian M&A market has remained stable for the second year in a row, indicating cautious investor confidence despite the ongoing war. In the first nine months ... #ForeignInvestor #investments #MergersAcquisitions #UkraineEconomy #ukrainianbusiness #UkrainianMarket
A Ukrainian household goods market leader has resumed product deliveries to Central Asia. After a long pause, Biosphere Corporation, one of the largest in Ukraine in the household goods market, has relaunched its business in Uzbekistan. In the week since the first shipment, eight of the la... #Biosphere #BusinessDevelopment #HouseholdGoods #Uzbekistan
A Turkish company has acquired a controlling stake in a Ukrainian equipment manufacturer for the oil and gas industry. Dalgakiran Group, a Turkish industrial equipment manufacturer, has acquired a controlling stake in Ukrainian company Sensi, which specializes in producing gas compressors and specialized equipment for... #DalgakiranGroup #investments #MergersAcquisitions #Sensi #TurkishBusiness
Will the FATF decision destroy the aggressor country’s economy? The Financial Action Task Force (FATF) will decide on October 22 whether to add Russia to its blacklist. Publicly, the FATF has stated that it considers Russia’s aggression unacceptable, but in ... #FATF #RussianEconomy #RussianTrade #SanctionsAgainstRussia
What are the operational threats for Ukraine’s metallurgical sector? Metallurgical enterprises in Ukraine are currently faced with three primary risks: the possible loss of coking coal production in Pokrovsk, problems with electricity supplies, and the sea corridor cea... #CokingCoal #MetallurgyUkraine #OleksandrKalenkov #Pokrovsk #Ukrmetallurgprom #Worldsteel
CRH finally acquires a cement producer in Ukraine for €100M. International manufacturer of building materials CRH has officially completed a deal to purchase the assets of Dyckerhoff in Ukraine from Buzzi, an Italian company. The Dyckerhoff group’s total ... #BuzziUnicem #CementProduction #CRH #Dyckerhoff #investments
The 2023 harvest brought 200% more profit to Ukrainian companies. According to Agrohub, the actual EBITDA for the main crops in 2023 is $129 per hectare, while the forecasted values at the beginning of the year were not so optimistic – $94 per hectare. As well, co... #AgroHub #agroUkraine #GrainHarvest #Harvest2024 #Soybeans #UkrainianCorn #Wheat
In Ukraine, visitors to shopping malls are increasing and new facilities are opening. In the first half of the year, the average number of visitors to shopping malls in Ukraine increased by 4% compared to last year. According to UTG, the number of visitors to shopping and entertainment... #CommercialRealEstate #ShoppingMallsUkraine #ShoppingMallTraffic #Uzhhorod
Three industrial parks receive over ₴171M in state funding for infrastructure development. ₴171.4M in state funding within the framework of the Made in Ukraine program has been allocated to three industrial parks. The support will go to the Bila Tserkva 2 (Kyiv region), VinIndustry (Vinnyt... #BilaTserkva #IndustrialPark #InfrastructureDevelopment #investments #kyiv #MadeinUA #Vinnytsia
Domestic investment in Ukrainian enterprises approaches $9.5B. According to Andriy Bukin, Deputy Chairman of the Board of Pivdenny Bank, 72% of these funds were invested by entrepreneurs, 15% was money from state or local budgets, and bank loans account for only ... #BankPivdennyy #BusinessInvestments #CreditPortfolio #investments #UkraineBankingSystem
Europe is not interested in returning Ukrainian refugees to their homeland. Emigration from Ukraine will continue. According to immigration specialist Andriy Haidutskyi, this is influenced by such factors as: High difference in wages. Salaries in Poland are 300% higher, in Br... #MarshallPlan #RepatriationInUkraine #UkraineRefugees #UkrainiansAbroad
Half of the economy, and ₴500B in taxes, are in the shadows, said the head of the Parliamentary Finance Committee, Danylo Hetmantsev. However, he specified that after measures taken by the state, this amount will decrease to ₴420-430B ($10B). At the same time, ... #DanyloHetmantsev #EuropeanIntegration #ShadowEconomy #TaxesUkraine #UkraineEconomy
Ukraine exports about 40 million tons of grain this season, and the shipment rate has increased by 100%. Deputy Minister of Agrarian Policy Taras Vysotskyi stated: “Due to difficult climate conditions, this year’s harvest is somewhat smaller than last year’s. Also, there are no transiti... #agroexportukraine #BorderBlockade #TarasVysotskyi #UkrainePolandCheckpoints #Ukrainiangrain
Ukraine will sell confiscated Russian construction material factories. The Cabinet of Ministers have allowed the State Property Fund (SPFU) to auction the state’s ownership Aeroc, an aerated concrete production enterprise seized in 2022 from Russian Andrey Molchano... #AeratedConcreteBlocks #Aeroc #AndreyMolchanov #Nationalization #PrivatizationUkraine #RussianOligarchs #SPFU
For the first time since the beginning of the war, foreign investors have bought a Ukrainian cloud software company. The Polish ASEE Group, part of the Asseco Group, acquired Ukrainian company Askep.net, a leading provider of healthcare software. This is the first M&A deal with a Ukrainian SaaS company since the... #ASEEGroup #Askep.net #investments #MedicalStartup #MergersAcquisitions #SaaScompany
Despite sanctions, the volume of Russia’s shadow fleet has increased by 70% in one year. According to KSE analyses, Moscow has increased the volume of its shadow fleet of oil tankers by almost 70% despite restrictions targeting insurers and shipping companies. The volume of Russian oil tr... #OilTankers #RussianOil #SanctionsAgainstRussia #ShadowFleetRussia
The shortage of new workers in Ukraine will reach 5-10 million people by 2030: Experts advise how to overcome this challenge. According to the director of the USAID mission in Ukraine, Theodora Dell, human resources can be gathered from the country’s own potential. “Currently, the employment rate in Ukraine is 52... #EmployeeDeficit #JobInUkraine #LaborMarketUkraine #UkraineEconomy #USAID
The tax increase will bring a corresponding increase in Ukraine’s shadow economy. Because of the retrospective increase in taxes from October 1, businesses are transferring their workers to the shadow employment sector. This will increase the shadow economy by 10 percentage points,... #ShadowEconomy #TaxesUkraine #TaxIncrease #UkraineBudgetDeficit #UkraineEconomy
