Economy

Thursday, June 6

Ukraine’s state budget revenues have been decreasing for four months in a row.

Ukraine’s state budget revenues have been decreasing for four months in a row. In May 2024, the general fund of the state budget received ₴151.8B, which is less than in February, March, and April, the Ministry of Finance notes. According to the results from the five completed mo...

A Canadian manufacturer of armored vehicles is investing tens of millions of dollars in a new Ukrainian enterprise.

A Canadian manufacturer of armored vehicles is investing tens of millions of dollars in a new Ukrainian enterprise. According to Roman Shimonov, CEO of the Canadian Roshel company, the decision to open a company in Ukraine has already been made. The company expects to invest “tens of millions of dollars”...

Ukraine needs 3-4 window glass factories to rebuild the country.

Ukraine needs 3-4 window glass factories to rebuild the country. To have enough window glass for Ukraine’s restoration, it will be necessary to build three or four plants with a production capacity of 25 million square meters per year, said the President of the All...

Ukraine needs an external financing plan until 2027.

Ukraine needs an external financing plan until 2027. To overcome macroeconomic risks and maintain macroeconomic stability, Ukraine and its partners from the Donor Coordination Platform must develop a long-term strategy for external financing and support...

Wednesday, June 5

A third of Ukrainian industrial enterprises predict en increase in the selling prices of products, and 25% have increased production.

A third of Ukrainian industrial enterprises predict en increase in the selling prices of products, and 25% have increased production. Every third industrial enterprise expects to raise the selling prices of their goods in the next three months. At the same time, the dynamics of the corresponding expectations decreased compared to th...

Ukraine’s largest chicken producer sees its profits decrease by 67%, and losses from the war reach $10M.

Ukraine’s largest chicken producer sees its profits decrease by 67%, and losses from the war reach $10M. MHP Agroholding, in the first quarter of the year, earned $16M in net profit, which is less than a third of the result from the first quarter of 2023 ($49M), according to a report from the London Stoc...

Depression of Ukrainian manufacturers: Investment companies note the country’s shortage of investment projects.

Depression of Ukrainian manufacturers: Investment companies note the country’s shortage of investment projects. Ukrainian manufacturers do not want to attract investments because they focus on debt and cash flow, said Managing Director of Dragon Capital Mykhailo Granchak at the Grain Ukraine 2024 conference. Ac...

Four companies plan to invest at least $2.5B in Ukraine by 2026.

Four companies plan to invest at least $2.5B in Ukraine by 2026. Metinvest, OKKO, Terwin, and Vodafone plan to invest $300-600M each to develop their businesses in Ukraine during 2024-2025. OKKO says that they have been working on developments in the biofuel sector...

Tuesday, June 4

Ukraine needs money for its army, and these are the reasons.

Ukraine needs money for its army, and these are the reasons. The state budget lacks funds to fully finance the Defense Forces of Ukraine due to assumptions about improvement in the security situation, increased spending on the Ministry of Internal Affairs, and ...

Businesses in Ukraine are increasingly threatened by a lack of workers, not war.

Businesses in Ukraine are increasingly threatened by a lack of workers, not war. Mobilization in Ukraine has led to the significant draining of personnel from the Ukrainian economy. In addition, more than six million people have fled the war, and many men work in the shadow econom...

Ukraine is preparing the Chornomorsk Seaport for reconstruction.

Ukraine is preparing the Chornomorsk Seaport for reconstruction. The government plans to start the reconstruction of the seventh, eighth, and ninth berths of the Chornomorsk seaport by 2025, said head of the Chornomorsk Seaport Administration Ruslan Sakhautdinov. &...

After two consecutive months of positive sentiment, in May Ukrainian businesses worsened their performance estimates.

After two consecutive months of positive sentiment, in May Ukrainian businesses worsened their performance estimates. According to the National Bank, the index of expectations for business activity fell to 48 from 52.3 points in April. The mood of Ukrainian enterprises was affected by the increased intensity of hosti...

The world leader in container transportation returns to the ports of Odesa.

The world leader in container transportation returns to the ports of Odesa. The Maersk Group has launched the first container service to the ports of Odesa after the start of full-scale war, The Loadstar writes. Through its cooperation with the Ukrainian feeder operator Iteri...

Businesses are being offered grants for innovative production and to move their operations to safer regions.

Businesses are being offered grants for innovative production and to move their operations to safer regions. EIT Manufacturing Accelerate is a program that helps scale and accelerate the transformation of industrial start-ups into influential players in the European manufacturing ecosystem. The program suppo...

In the first quarter, the profits from large and medium Ukrainian businesses reached ₴319.6B, and the share of unprofitable enterprises decreased to 26.7%.

In the first quarter, the profits from large and medium Ukrainian businesses reached ₴319.6B, and the share of unprofitable enterprises decreased to 26.7%. According to the State Statistics Service, large and medium-sized enterprises generated a positive financial result before taxation for the first quarter of 2024. It amounted to ₴253.6B, compared to ₴...

Ukraine increased its exports of frozen vegetables by 100% over last year.

Ukraine increased its exports of frozen vegetables by 100% over last year. In the first quarter of 2024, the export of frozen vegetables from Ukraine increased by more than 100% compared to the same period in 2023 – up to 2,200 tons. Turnover reached more than $2.7M. F...

IT experts expect a 5-10% drop in the industry’s exports this year.

IT experts expect a 5-10% drop in the industry’s exports this year. Lviv IT cluster CEO Stepan Veselovskyi stated: “Ukraine may lose competitive advantages over other countries in the field of innovative technologies.” He said that despite the modest posit...

Monday, June 3

World Bank: Almost a third of Ukrainians live in poverty.

World Bank: Almost a third of Ukrainians live in poverty. The number of Ukrainians living in poverty has increased by 1.8 million since 2020, accounting for about 29% of the population, as the Russian invasion continues to damage the country’s economy....

Ukraine needs €7-10B annually for basic ammunition supplies.

Ukraine needs €7-10B annually for basic ammunition supplies. Czech Governmental Envoy for the Reconstruction of Ukraine Tomasz Kopechny said, Ukraine’s basic need for large-caliber projectiles, and this is not only 120-155 mm but also mortar caliber 81 mm...

The State Bank of Ukraine will provide exporters with loans of up to ₴10M covered by ECA insurance.

The State Bank of Ukraine will provide exporters with loans of up to ₴10M covered by ECA insurance. PrivatBank and the Ukrainian Export Credit Agency (ECA) will finance exporting producers to purchase raw materials and equipment. The ECA will insure the bank’s risk for loans granted to fund th...

Ukraine aims to privatize all non-core assets to attract investment and ensure economic growth.

Ukraine aims to privatize all non-core assets to attract investment and ensure economic growth. Vitaly Koval, the head of the State Property Fund (SPFU), drew attention to figures confirming the effectiveness of privatization. In five months of this year, the SPFU attracted more funds from priva...

Ukraine will export some agricultural products to the EU under new rules.

Ukraine will export some agricultural products to the EU under new rules. Acting Minister of Agricultural Policy Taras Vysotskyi said that on June 5, updated rules for duty-free trade in agricultural products with the EU will come into effect and will be valid for one year....

Friday, May 31

The easing of EU sanctions on Russian metal will provide Putin with €1.5B for weapons.

The easing of EU sanctions on Russian metal will provide Putin with €1.5B for weapons. Despite numerous sanctions, the Russian economy is developing and growing (2.2% last year), and the country continues earning billions in the European market. Therefore, said Aaron Pluto, a strategic ...

The US hopes Ukraine will restructure its debt by autumn.

The US hopes Ukraine will restructure its debt by autumn. The US hopes that Ukraine will be able to reach an agreement with private creditors on debt restructuring by September 1, US Deputy Treasury Secretary Wally Adeyemo while in Kyiv. “This is one o...

Ukraine begins to insure investors against military and political risks.

Ukraine begins to insure investors against military and political risks. Export credit agencies (ECA) have started accepting applications for investment insurance against military and political risks. The agency will offer two insurance products – direct investment insuran...

Transcarpathia and Cherkasy will launch industrial parks with processing enterprises that will create more than 6,000 jobs.

Transcarpathia and Cherkasy will launch industrial parks with processing enterprises that will create more than 6,000 jobs. The Cabinet of Ministers included the Tyachiv industrial park in Zakarpattia and the Smila industrial park in the Cherkasy region to the state’s Register of Industrial Parks. The Tyachiv industrial pa...

Thursday, May 30

The port authority plans to invest all of the port’s earnings into infrastructure and restore it to at least pre-war levels; more than $222M will be needed.

The port authority plans to invest all of the port’s earnings into infrastructure and restore it to at least pre-war levels; more than $222M will be needed. Head of the Administration of Sea Ports of Ukraine (AMPU) Yuriy Lytvyn claims that the ports will work around the clock to restore infrastructure. According to him, AMPU set itself a priority task ove...

The largest Turkish construction company has invested $15M in Ukraine.

The largest Turkish construction company has invested $15M in Ukraine. EFE, part of the ONUR Group, is one of the largest companies in Ukraine that produces ready-mixed concrete, reinforced concrete products, metal structures, and paving stones. Since the onset of the wa...

Europe is interested in Ukrainian refugees returning home and it will reduce their access to housing benefits as well as pay for their return to their homeland.

Europe is interested in Ukrainian refugees returning home and it will reduce their access to housing benefits as well as pay for their return to their homeland. The Committee of the Parliamentary Assembly of the Council of Europe on migration agreed on the decision to pay money to Ukrainians returning to the Motherland. It is noted that funds will be paid to ...

The EBRD will support Ukraine with €1.5B annual contributions until the end of the war.

The EBRD will support Ukraine with €1.5B annual contributions until the end of the war. The European Bank for Reconstruction and Development has provided €4B in project financing across all sectors of Ukraine’s economy since the beginning of the full-scale invasion and will continu...

Farmers and lawyers have most often closed their businesses during the war.

Farmers and lawyers have most often closed their businesses during the war. Agricultural enterprises represent the largest number of closed businesses during the war in Ukraine, with 1,261 companies from 2022 to the first quarter of 2024 inclusive. This is followed by wholesa...

Ukraine unveils the Land Bank project, allowing farmers to lease state lands through auctions.

Ukraine unveils the Land Bank project, allowing farmers to lease state lands through auctions. The State Property Fund (SPFU) presented its Land Bank project, which allows farmers to lease state land transparently and competitively through Prozorro.Sales online auctions. The starting price for ...

Wednesday, May 29

The world’s debt has already exceeded $315T and continues to grow.

The world’s debt has already exceeded $315T and continues to grow. According to the Institute of International Finance (IIF), global debt reached $315T in the first quarter of 2024, almost three times more than the expected global GDP of $109T in 2024. The world has ...

A Ukrainian investment company revises its economic forecast for Ukraine.

A Ukrainian investment company revises its economic forecast for Ukraine. Investment group Dragon Capital has improved its inflation forecast in 2024 from 8% to 7.6%. At the same time, the previous estimate of a 4% increase in GDP in 2024 has been maintained thanks to the r...

How do foreign investors assess the investment climate in Ukraine?

How do foreign investors assess the investment climate in Ukraine? Foreign investors have a restrained and negative assessment of the investment climate in Ukraine. Russia’s full-scale military aggression in Ukraine continues to lead the list of negative factor...

A Polish clothing retailer is intensifying its expansion into the Ukrainian market.

A Polish clothing retailer is intensifying its expansion into the Ukrainian market. In the first quarter of 2024, the turnover of the Polish fashion retailer LPP in Ukraine increased by 58.3%, compared to the same period in 2023, to ₴2B ($50M). The company’s brands include Rese...

The global giant in the field of container transportation, MSC, is the first to plan the restoration of its operations at the Odesa port.

The global giant in the field of container transportation, MSC, is the first to plan the restoration of its operations at the Odesa port. The largest international container line, MSC Mediterranean Shipping Co (Switzerland), intends to resume regular feeder service to the seaports of Odesa in June 2024. The service will operate between ...

Poland is facing problems that it cannot solve without Ukrainians.

Poland is facing problems that it cannot solve without Ukrainians. It is increasingly difficult for Polish employers to find seasonal workers. This is the second consecutive year Poland has dealt with this shortage, despite the opportunity to earn PLN 5,000-9,000 ($1...

Tuesday, May 28

The NBU has downgraded its growth forecast for the Ukrainian economy over losses in the energy sector.

The NBU has downgraded its growth forecast for the Ukrainian economy over losses in the energy sector. The National Bank worsened its 2024 growth forecast for Ukraine’s economy from 3.6% to 3% due to the severe consequences from Russia’s missile attacks on energy infrastructure. The central...

What happened in Ukraine’s land market in April?

What happened in Ukraine’s land market in April? Analysts from the KSE Agrocenter notes that Ukraine’s agricultural land market continued to grow in April 2024. Purchase and sale agreement volumes were the largest since the beginning of the full-sca...

Ukraine seeks investors in the titanium industry, which could potentially provide up to 5% of the country’s GDP.

Ukraine seeks investors in the titanium industry, which could potentially provide up to 5% of the country’s GDP. Vitaliy Koval, the State Property Fund (SPFU) head, said: “We are among the five leading countries in titanium ore reserves. We will also be among the leading countries that produce products fro...

The largest pharmaceutical company in Ukraine received €12M from Ukrainian and Latvian banks to construct a plant in Spain.

The largest pharmaceutical company in Ukraine received €12M from Ukrainian and Latvian banks to construct a plant in Spain. Thanks to the West Bridge program, Ukrainian businesses continue to develop in EU countries. Another of the program’s significant projects is financing a new pharmaceutical plant for the largest Ukrai...

What hinders the work of food producers in Ukraine and globally?

What hinders the work of food producers in Ukraine and globally? According to global consulting firm WTW, 48% of the world’s food and beverage companies cite business interruption as the biggest internal risk to their success. Supply chain risks come in next ...

Monday, May 27

Ukrainian munitions manufacturers will achieve a 25% profit, and France’s €200M grant will be used for defense needs.

Ukrainian munitions manufacturers will achieve a 25% profit, and France’s €200M grant will be used for defense needs. Prime Minister Denys Shmyhal announced that the government has approved a resolution establishing a profit margin of up to 25% of their cost for domestic ammunition manufacturers. He noted the success...

The Odesa region will build a multidisciplinary industrial park with 500 jobs.

The Odesa region will build a multidisciplinary industrial park with 500 jobs. The Cabinet of Ministers included the R-33 industrial park in the Odesa region in the Register of Industrial Parks. The new industrial park was initiated by the Kuyalnyk Village Council and is the 79t...

Friday, May 24

The US notes the positive economic impact of the reforms Ukraine has implemented; an influx of multibillion-dollar investment is expected.

The US notes the positive economic impact of the reforms Ukraine has implemented; an influx of multibillion-dollar investment is expected. The US welcomes Ukraine’s adoption of a law to improve corporate governance, US Ambassador to Ukraine Bridget Brink said at a conference on corporate reform. “Ukraine has successfully implemente...

The G7 agrees on the details of providing Ukraine with a $50B loan secured by Russian assets.

The G7 agrees on the details of providing Ukraine with a $50B loan secured by Russian assets. The G7 countries agree with the US’ plan to use frozen Russian assets. The move would provide Ukraine with up to $50B in financing and help protect it from political shifts on both sides of the Atlant...

Latvia will help Ukraine with economic and logistics development.

Latvia will help Ukraine with economic and logistics development. Investment in the development of Ukraine’s economy will contribute to strengthening the country at the front, Latvian Minister of Economy Viktors Valainis emphasized. “We can help not only...

Ukrainian businesses cite the risks of discontinuing currency liberalization measures.

Ukrainian businesses cite the risks of discontinuing currency liberalization measures. As stated by analysts, the continuation of currency liberalization is absolutely necessary. Expanding the established limits and conditions for paying dividends and interest on existing debts remains ...

Investors want to sell an aerospace company with Ukrainian roots for $1.5B.

Investors want to sell an aerospace company with Ukrainian roots for $1.5B. Investors in the Ukrainian-American manufacturer of rockets and lunar landing modules, Firefly Aerospace, are considering selling it for about $1.5B. Investors including the American private investmen...

Follow us