Economy

Thursday, April 25

A year and a half separate the Russian economy from collapse.

A year and a half separate the Russian economy from collapse. According to the Carnegie Foundation, the Russian economy is still strong despite rising military spending and sanctions. In fact, the IMF predicts that the Russian Federation’s economy will gro...

Exporters have adapted better to war conditions than businesses operating in Ukraine’s domestic market.

Exporters have adapted better to war conditions than businesses operating in Ukraine’s domestic market. Businesses engaged in exports have demonstrated better adaptability to the current situation in Ukraine compared to businesses that do not have sales abroad, although there are certain differences amo...

Japan will expand its presence in the Ukrainian investment market and open an office in Kyiv.

Japan will expand its presence in the Ukrainian investment market and open an office in Kyiv. Japan plans to increase its presence in the Ukrainian investment market, in particular, the country intends to expand its business ties in the field of investment and trade; the country will open an o...

Wednesday, April 24

How will Ukraine’s partners help it close the hole in its budget this year?

How will Ukraine’s partners help it close the hole in its budget this year? According to the Ukrainian government, the need for international financing in 2024 is $37.2B. As of April 20, Ukraine has received $10.2B: $4.9B from the EU (Ukraine Facility) $2.1B from Japan...

The Ukrainian government predicts the improvement of key macroeconomic indicators and economic growth, whether the war ends in 2024 or drags on longer.

The Ukrainian government predicts the improvement of key macroeconomic indicators and economic growth, whether the war ends in 2024 or drags on longer. The Ministry of Economy notes that, despite all the difficulties caused by the war, the positive dynamics of key macroeconomic indicators are evidence of the economy’s adaptation to wartime cond...

The European Parliament approves restrictions on the import of Ukrainian food, costing Ukraine €331M.

The European Parliament approves restrictions on the import of Ukrainian food, costing Ukraine €331M. The European Parliament approved the extension for a year (from June 6) of duty-free trade in Ukrainian agricultural products while introducing new import restriction levels to appease EU protesters. ...

Ukraine increases its purchases of flat-rolled products by 24%; the trend will continue due to reconstruction.

Ukraine increases its purchases of flat-rolled products by 24%; the trend will continue due to reconstruction. In January-March, Ukraine imported 208,250 tons of flat-rolled products, which is 24.3% more than in 2023. Import costs increased by 16.4% to $232.5M. Turkey, Poland, Slovakia, and Italy were the larg...

Denmark will additionally allocate about €420M to rebuild Ukraine and develop a green energy sector.

Denmark will additionally allocate about €420M to rebuild Ukraine and develop a green energy sector. Ukraine and Denmark signed a memorandum that provides for cooperation with the private sector through the Ukraine Facility mechanism with a system of loans and guarantees within the framework of the E...

Tuesday, April 23

The EIB will finance a €200M social housing pilot program in Ukraine for.

The EIB will finance a €200M social housing pilot program in Ukraine for. The European Investment Bank will provide a loan to launch a social housing program in Ukraine, EIB representative Oksana Remiga said. This loan will be targeted and could find support from the EC thr...

What is the biggest obstacle to business in Ukraine?

What is the biggest obstacle to business in Ukraine? For several months in a row, the lack of personnel has remained a significant problem for Ukrainian businesses. In March, 50% of enterprises reported a shortage of employees, according to the Institut...

To support the annual 5-7% GDP growth, Ukraine must find between three and 4.5 million workers,

To support the annual 5-7% GDP growth, Ukraine must find between three and 4.5 million workers, said Executive Director of the Center for Economic Recovery, Kyrylo Kryvolap. According to him, by 2030, two million people will have left the labor market due to aging and migration processes. Accord...

Monday, April 22

The EU has set up an investment structure within the framework of the Ukraine Facility, which will help attract up to €40B to rebuild Ukraine.

The EU has set up an investment structure within the framework of the Ukraine Facility, which will help attract up to €40B to rebuild Ukraine. The EU created the Ukrainian Framework Investment Instrument, a financial lever and a component of the €50B Ukrainian Fund, with the aim of stimulating public and private investment for the recovery o...

Ukraine’s GDP growth in March remained close to 5%.

Ukraine’s GDP growth in March remained close to 5%. In March, the growth of Ukraine’s real GDP compared to the same period last year was 4.9%, compared to 5% in February and 5.2% in January, according to the monthly economic monitoring by the Ins...

A German company is investing €1.5M to launch a new production line for construction materials in the Kyiv region.

A German company is investing €1.5M to launch a new production line for construction materials in the Kyiv region. The MC-Bauchemie company plans to expand its production of dry building mixes in Berezan (Kyiv Region), said the director of MC-Bauchemie Ukraine, Artem Pryymachenko. “We intend to build a new l...

In the first quarter, the volume of Ukrainian agricultural exports dropped by 4%.

In the first quarter, the volume of Ukrainian agricultural exports dropped by 4%. In the first quarter of 2024, Ukraine’s export of agri-food products amounted to about $6.5B, which is 4% less than in the first quarter of 2023. It is noted that revenues from the sale of meat ...

Friday, April 19

ArcelorMittal Construction is investing €40M in the production of construction materials to rebuild Ukraine.

ArcelorMittal Construction is investing €40M in the production of construction materials to rebuild Ukraine. ArcelorMittal Construction, the world leader in construction solutions, will build a modern production facility in Ukraine to support restoration works with an investment of €40M. Through its subsidia...

Ukraine has increased its production of Bohdana self-propelled guns to 10 per month. This signals that the Ukrainian defense industry is ready to enter foreign markets.

Ukraine has increased its production of Bohdana self-propelled guns to 10 per month. This signals that the Ukrainian defense industry is ready to enter foreign markets. In April, the Ukrainian defense industry will produce 10 self-propelled Bohdana artillery systems for the first time, said President Volodymyr Zelenskyy. “The share of our own production is cons...

Lacking personnel, big businesses in Ukraine cannot restore and increase their production.

Lacking personnel, big businesses in Ukraine cannot restore and increase their production. Some segments of the Metinvest group cannot currently reach even 50-60% of their pre-war production, said the group’s top manager, Tetyana Petruk. According to her, this is a common problem for ...

Falling prices had an even greater impact on the reduction of Ukrainian exports than the border blockade.

Falling prices had an even greater impact on the reduction of Ukrainian exports than the border blockade. The reduction of Ukrainian exports occurred not only due to the negative impact from the Polish border blockade. According to experts, the main blow to the growth of Ukrainian exports is the reduction...

Which Ukrainian retailers have stopped working during the war?

Which Ukrainian retailers have stopped working during the war? During the two years plus of the full-scale war, several companies have not been able to adapt to the new realities of commerce in wartime, and they had to significantly reduce or stop their activitie...

Thursday, April 18

Instead of buying, businesses are selling agricultural land in Ukraine.

Instead of buying, businesses are selling agricultural land in Ukraine. Ukrainian companies sold at least 1,283 hectares as of March 18, 2024. Since the beginning of 2024, at least 342 land plots have been sold. Since the land market was opened for legal entities, despite...

The IMF expects Ukraine’s GDP to grow by 3.2% this year.

The IMF expects Ukraine’s GDP to grow by 3.2% this year. Next year, Ukraine’s GDP growth will be 6.5%, according to the World Economic Outlook report. According to the IMF forecast, consumer inflation in Ukraine will decrease from 12.9% in 2023 to 6.4...

The share of imported building materials in Ukraine increased to 23%, and cement consumption by 17%.

The share of imported building materials in Ukraine increased to 23%, and cement consumption by 17%. Industry expert Volodymyr Vlasyuk said that the share of imported building materials in the Ukrainian market increased from 14% in 2021 to 23% in 2023. According to the expert, the state stimulates de...

Ukraine will need $24.5B annually to produce building materials for reconstruction.

Ukraine will need $24.5B annually to produce building materials for reconstruction. Volodymyr Vlasyuk, an industry expert, said that as of November 2022, Ukraine needed more than $62.8B to purchase and produce building materials for its reconstruction. However, at that time, the amou...

For the first time in two years, more than 60% of Ukrainian companies have long-term plans.

For the first time in two years, more than 60% of Ukrainian companies have long-term plans. This is the highest indicator since October 2022, according to a survey by the Institute of Economic Research (IER). At the same time, the share of those who plan to reduce their activities in the nex...

Wednesday, April 17

Due to EU restrictions, Ukraine will lose more than €300M, and the supply of sugar, poultry, and eggs to the EU market will stop.

Due to EU restrictions, Ukraine will lose more than €300M, and the supply of sugar, poultry, and eggs to the EU market will stop. Ukraine’s losses due to the EU’s introduction of a new protective mechanism against its agricultural products, which will become effective June 6, will approximately amount to €315M. The introdu...

Ukraine increased its export of metal and iron ore raw materials.

Ukraine increased its export of metal and iron ore raw materials. Head of the Committee on Finance Danylo Hetmantsev pointed out that, in the results from the first quarter of 2024, mining and metallurgical complex products account for almost 20% of all commodity ex...

Four waste processing plants with a capacity of 500,000 tons will be built in the Poltava region, at a cost of $130M.

Four waste processing plants with a capacity of 500,000 tons will be built in the Poltava region, at a cost of $130M. By the end of May 2024, the Poltava, Lubny, Kremenchuk, and Kobelyaky communities will determine construction sites for new waste processing plants. The planned enterprises will be able to fully proce...

Ukraine will build 10 GW of capacity to produce renewable hydrogen, which the EU urgently needs.

Ukraine will build 10 GW of capacity to produce renewable hydrogen, which the EU urgently needs. Currently, hydrogen production in Ukraine is approximately 360,000 tons per year, used mainly to produce ammonia. Although this is only 0.5% of global demand, with technological development and invest...

Tuesday, April 16

Which type of business in Ukraine files for bankruptcy most often?

Which type of business in Ukraine files for bankruptcy most often? In the first quarter of 2024, 192 businesses received court decisions regarding bankruptcy proceedings. The largest number among them are legal entities working in trade and providing transport repair...

What position did Ukraine hold among globabl exporters of agricultural products before the full-scale war?

What position did Ukraine hold among globabl exporters of agricultural products before the full-scale war? As KSE-Agrocenter analysts noted, over the past two decades Ukraine has gradually become the world’s main supplier of agricultural products. Before the full-scale invasion, agriculture produced ...

The mortgage lending market grew by 17% in February; the main driver is the state’s affordable housing program.

The mortgage lending market grew by 17% in February; the main driver is the state’s affordable housing program. In February, Ukrainian banks issued 783 mortgage loans for a total amount of ₴1.3B. In particular, the volume of mortgage loans granted to the population increased by 17.3% compared to the previous mo...

Businesses in high military risk zones receive 20% of available loans.

Businesses in high military risk zones receive 20% of available loans. Every fifth loan under the state program Affordable Loans was issued to a business operating in a zone of high military risk. Since the beginning of the year, loans worth ₴27.3B have been issued to al...

Due to sanctions, Russia struggles to receive billions of dollars in export revenue.

Due to sanctions, Russia struggles to receive billions of dollars in export revenue. The strengthening of American sanctions and the refusal by foreign banks to pay Russian companies have deprived Moscow of billions of dollars in foreign exchange. In March, the Russian Federation earn...

Where is the most expensive primary residential real estate in Ukraine?

Where is the most expensive primary residential real estate in Ukraine? Lviv continues to hold the lead in apartment prices in Ukraine’s primary market. In half a year, since Lviv overtook Kyiv in terms of cost per square meter, this separation has increased by 10%,...

Monday, April 15

World Bank: The Ukrainian economy has reached a turning point.

World Bank: The Ukrainian economy has reached a turning point. The World Bank offered its assessment in its regional Economic Review, as concerns about the timing and volume of future aid payments to Ukraine are growing. The World Bank predicts that Ukraine’...

Ukraine has only $6B of budget funds for defense purchases.

Ukraine has only $6B of budget funds for defense purchases. In 2024, Ukraine has $6B to purchase weapons, particularly from domestic manufacturers, said Oleksandr Kamyshin, Minister of Strategic Industries. As he clarified, the entire defense budget for the cu...

Ukraine returns as a leading iron ore exporter to Turkey, increasing total sales by 150%.

Ukraine returns as a leading iron ore exporter to Turkey, increasing total sales by 150%. In January-February 2024, Ukraine exported 231,800 tons of iron ore to Turkey, compared to 30,000 tons in the same period of 2023. Ukraine was in third place among countries exporting this product to ...

Due to new EU restrictions and increased control over transporters, Ukrainian farmers should look for alternative sales markets.

Due to new EU restrictions and increased control over transporters, Ukrainian farmers should look for alternative sales markets. Deputy Minister of Agricultural Policy Taras Vysotskyi said that, starting in June, the EU will introduce restrictions on importing certain types of Ukrainian agricultural products if their supply exc...

Ukrainian and South Korean companies will build a modern chemical industrial park.

Ukrainian and South Korean companies will build a modern chemical industrial park. Group DF International and Hyundai Engineering Co. Limited will build a chemical industrial park in the city of Rivne. The large-scale project envisages the construction of factories to produce “...

Friday, April 12

Russia’s attacks on Odesa will reduce grain exports by three million tons.

Russia’s attacks on Odesa will reduce grain exports by three million tons. The attacks on the area’s infrastructure, particularly near the port, may reduce the export of Ukrainian grain in April from eight to five million tons. “During the first 10 days of April, Ukrai...

An American bank provides a $156M loan for new UZ locomotives.

An American bank provides a $156M loan for new UZ locomotives. The Export-Import Bank of the US approved the decision to issue a loan to purchase 40 locomotives manufactured by the American company Wabtec to reinforce the Ukrainian Railways (UZ) fleet. The financ...

Global trade in goods will grow by 2.6% this year and by 3.3% in 2025,

Global trade in goods will grow by 2.6% this year and by 3.3% in 2025, the World Trade Organization predicts. Last year, global merchandise turnover decreased by 1.2%. In terms of value, the export of goods fell by 5% to $24.01 trillion. Import volumes decreased in most ...

Ukraine’s trade turnover in the first quarter amounted to $26B.

Ukraine’s trade turnover in the first quarter amounted to $26B. According to data from the State Customs Service, during the first three months of 2024, Ukraine imported goods worth $16B and exported $10B. At the same time, taxed imports amounted to $13.8B, which ...

Raiffeisen has launched commercial war risk insurance and will insure ₴1B worth of property.

Raiffeisen has launched commercial war risk insurance and will insure ₴1B worth of property. Raiffeisen Bank has launched a new service in the Ukrainian market for business clients to insure various types of property against war risks. Insurance companies will provide coverage for property th...

The return of Spanish retailer Inditex to Ukraine could raise rental rates in shopping malls by 15%.

The return of Spanish retailer Inditex to Ukraine could raise rental rates in shopping malls by 15%. UTG Director Evgenia Loktionova, at the “How do shopping centers change during the war?” conference, said that the return of brands from the Spanish group Inditex to Ukraine – Zara, ...

Thursday, April 11

Unpopular decisions must be made: How does Ukraine plan to get along without US aid?

Unpopular decisions must be made: How does Ukraine plan to get along without US aid? If Ukraine does not receive $11.2B in budget support from the US (as part of a $60B aid package), the consequence will be difficult, unpopular decisions by the Ukrainian government, noted the head of ...

Switzerland plans to provide $5.5B for Ukraine’s reconstruction through 2036, and Luxembourg directs €50M to the reconstruction of Kryvyi Rih.

Switzerland plans to provide $5.5B for Ukraine’s reconstruction through 2036, and Luxembourg directs €50M to the reconstruction of Kryvyi Rih. The Federal Council of Switzerland has approved a financing plan that extends to 2036 for Ukraine’s recovery in the amount of ₣5B ($5.5B). The plan must still be approved by the country’s parlia...

The EU is preparing the 14th package of sanctions, while Russian oligarchs are escaping previous sanctions through the EU court.

The EU is preparing the 14th package of sanctions, while Russian oligarchs are escaping previous sanctions through the EU court. As EC Vice-President Valdis Dombrovskis reported: “We have started the preparation of the 14th package of sanctions, which should be adopted in the spring. It will probably include a wide list o...

Germany will help Ukraine to create an analog of its recovery bank and has increased interest in the Ukrainian energy market.

Germany will help Ukraine to create an analog of its recovery bank and has increased interest in the Ukrainian energy market. The German government approved a set of measures to support the reconstruction of Ukraine. One of them is the creation of an analog of the German reconstruction bank KfW, based on the Entrepreneurship...

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