Economy

Wednesday, April 10

Experts confirm the recovery of consumer lending in Ukraine.

Experts confirm the recovery of consumer lending in Ukraine. According to the NBU, as of March 1, 2024 the portfolio of bank loans to individuals amounted to ₴230.9B, 12.1% more than on the same date last year. For comparison, as of March 1, 2022, customer debt...

Inflation in Ukraine fell to its lowest level in more than three years.

Inflation in Ukraine fell to its lowest level in more than three years. The growth of consumer prices in Ukraine in March 2024 slowed to 3.2% in annual terms. This is the lowest value since October 2020, when annual inflation was 2.6%, reported the State Statistics Servic...

Germany will mobilize the private sector to rebuild Ukraine, and Italy will form a list of interested companies.

Germany will mobilize the private sector to rebuild Ukraine, and Italy will form a list of interested companies. On April 10, the German government will consider a comprehensive document on the mobilization of private sector resources for Ukraine’s restoration, the Ministry of Economic Development of Germany rep...

Ukrainian debtholders plan to create a committee of creditors against the background of a possible debt restructuring.

Ukrainian debtholders plan to create a committee of creditors against the background of a possible debt restructuring. According to Bloomberg, large bondholders may intensify negotiations to create such a group after the IMF meeting on April 17. They note that time pressure is increasing as the moratorium on Ukrainian...

A transshipment terminal with a capacity of three million tons was built in Romania near the Ukrainian border.

A transshipment terminal with a capacity of three million tons was built in Romania near the Ukrainian border. Romania’s largest private rail freight operator, the Grampet Group, has built a rail transshipment terminal in Dornești near the Romanian-Ukrainian border. The terminal should become a strategic...

The European Parliament and the Council of EU have reached a preliminary agreement on continuing trade liberalization with Ukraine.

The European Parliament and the Council of EU have reached a preliminary agreement on continuing trade liberalization with Ukraine. Thus, import duties and quotas for the export of Ukrainian agricultural products to the EU will be suspended for another year, until June 5, 2025. However, in the event of a significant disruption to ...

McDonald’s invests ₴1B in network expansion in Ukraine and strengthens cooperation with domestic businesses.

McDonald’s invests ₴1B in network expansion in Ukraine and strengthens cooperation with domestic businesses. Yuliya Badritdinova, the company’s general manager for the markets of Ukraine, the Czech Republic, and Slovakia, said that the plan for 2024 is similar to 2023, so the amount of investment will ...

Ukraine feeds the world at too low a cost; export earnings in March amounted to $2B.

Ukraine feeds the world at too low a cost; export earnings in March amounted to $2B. In March, agricultural exports brought $1.318B in trade balance and $2B in export earnings. According to Infoindustry: “If we look at the average price of export products and the average price o...

Tuesday, April 9

International investor Aregy Group has withdrawn from all projects in Ukraine due to corporate takeover attempts.

International investor Aregy Group has withdrawn from all projects in Ukraine due to corporate takeover attempts. The international medical group Aregy Group announced its exit from all projects in Ukraine due to regular raider attacks on one of its assets – the Chervona Kalyna recreation center in the vill...

What European grants can Ukrainian startups and projects receive?

What European grants can Ukrainian startups and projects receive? Women TechEU is an EU-funded project supporting women leading deep technology startups. As part of the project, a total of 160 startups will receive a grant of up to €75,000 each, as well as an indivi...

Ukraine will launch a state program for renting housing with the right of redemption.

Ukraine will launch a state program for renting housing with the right of redemption. Ukrainian Financial Housing Company is improving the eOselya affordable mortgage lending program and developing new ones, such as a rent program with the right of redemption and social rent. The rent-...

Unemployment in Ukraine is at a record low, and the labor market is experiencing an acute shortage of personnel.

Unemployment in Ukraine is at a record low, and the labor market is experiencing an acute shortage of personnel. Unemployment in Ukraine has fallen to its lowest level since the full-scale invasion. In March 2024, the unemployment rate in Ukraine was 13.7%. At the same time, the number of new vacancies on the ma...

Monday, April 8

South Korea will allocate $2.3B in aid to Ukraine, Lithuania has sent armored personnel carriers and drones, and Estonia has found another million shells.

South Korea will allocate $2.3B in aid to Ukraine, Lithuania has sent armored personnel carriers and drones, and Estonia has found another million shells. Seoul will provide Kyiv with a medium- and long-term $2.3B aid package starting this year and will also offer $12M to rehabilitate wounded Ukrainian soldiers through the NATO Trust Fund for Aid to Ukr...

Ukraine increases its international reserves to a new record.

Ukraine increases its international reserves to a new record. Ukraine’s international reserves grew by 18% in March and amounted to $43.8B on April 1, the National Bank reported. The regulator explained that the increase is due to the volume of income from...

Ukraine has already exported more than 36 million tons of goods through the sea corridor and launched container transportation.

Ukraine has already exported more than 36 million tons of goods through the sea corridor and launched container transportation. More than 36 million tons of cargo have been exported through the Ukrainian sea corridor since August 2023. This is higher than the indicators from the Grain Initiative for the year of its existence. ...

Ukraine lost up to $400M in imports due to the border blockade in February; exports are close to pre-war levels.

Ukraine lost up to $400M in imports due to the border blockade in February; exports are close to pre-war levels. According to the NBU, in February there was no increase in the import of goods, which is typical for this month, due to the resumption of the blockade of the western borders. Thus, import losses amoun...

The IMF plans to discuss Ukraine at the spring meetings with the WB.

The IMF plans to discuss Ukraine at the spring meetings with the WB. The top manager of the IMF, Julie Kozack, said: “We will discuss during the spring meetings on April 15 (between the IMF and the World Bank) the situation in Ukraine and the critical importance of the...

American investors are interested in Ukraine’s defense, but there are conditions.

American investors are interested in Ukraine’s defense, but there are conditions. Ukraine has a good chance of attracting investment from the US and other developed countries. These processes have already begun and are actively continuing, said Vladyslav Belbas, general director of...

The demand for new cars In Ukraine increased by almost 50%.

The demand for new cars In Ukraine increased by almost 50%. In the first quarter of 2024, 16,660 new cars were registered in Ukraine, reports the Ukravtoprom association. This is 49% higher than in the same period last year. The largest number of registrations...

Friday, April 5

Russia plans to restore operations at the drone-damaged oil refineries by June, but sanctions stand in their way.

Russia plans to restore operations at the drone-damaged oil refineries by June, but sanctions stand in their way. The Russian minister of energy stated: “Repairs at the factories are underway. We plan to fix several refineries in April-May, perhaps by the beginning of June.” At the same time, since Ja...

Last year, Ukraine’s construction volume increased by 22.6%.

Last year, Ukraine’s construction volume increased by 22.6%. According to 2023’s results, the volume of construction works in Ukraine increased by 22.6% in real terms, according to data from the State Statistics Service. The greatest growth was recorded in infr...

The government found a way to attract investment to the seaports.

The government found a way to attract investment to the seaports. The government wants to attract private investors to modernize ports, but in exchange for investment, the government offers a compensation mechanism through port fees. At the same time, the amount of ...

Industrial production increased by almost 6% over the year.

Industrial production increased by almost 6% over the year. According to the State Statistics Service, industrial production in Ukraine increased by 5.9% in 2023, while the fall in 2022 was 36.7%. According to the year’s results, production in the processing i...

Thursday, April 4

In addition to grain, Poland is also against the import of cement from Ukraine.

In addition to grain, Poland is also against the import of cement from Ukraine. The Association of Polish Cement Producers complained about the sharp increase in Ukrainian imports. Zbigniew Pilch, head of the association, said supplies from Ukraine increased 350% to 330,000 tonne...

Ukraine’s agro-industry leaders increased their income by 35% over the last year.

Ukraine’s agro-industry leaders increased their income by 35% over the last year. The total income of the ten leading companies in the agricultural sector increased by 35% in 2023, according to the Opentabatot Index. Market leaders earned almost ₴86.6B, a third more than in 2022 an...

A global online carpooling platform with a significant market share in Ukraine has attracted €100M.

A global online carpooling platform with a significant market share in Ukraine has attracted €100M. “The company will use the €100M investment to implement an ambitious growth strategy, including several M&A deals. The additional funding will allow the company to develop new projects, enco...

Sanctions against the Russian mining and metallurgical industry: Will Ukraine benefit?

Sanctions against the Russian mining and metallurgical industry: Will Ukraine benefit? As a result of European sanctions on the Mining and Metallurgical Industry (MMI), Russia’s export of metallurgical raw materials, semi-finished products, rolled steel, and pipes to the EU decrea...

Wednesday, April 3

Ukraine’s national debt increased by 54% during the first two years of the war.

Ukraine’s national debt increased by 54% during the first two years of the war. From February 2022 to February 2024, Ukraine’s state debt increased by $50.4B. To reduce debt pressure on the state budget, Ukraine has worked to attract loans on preferential terms. For example, the ...

The National Bank explains why in 2023, real GDP grew by 5.3%.

The National Bank explains why in 2023, real GDP grew by 5.3%. As reported by the NBU, public sector consumption increased by 9% over the year, and its share in GDP in 2023 reached almost 42% compared to about 18% in 2021. Private consumption grew by 6.1% thanks ...

Ukraine’s partners are planning its reconstruction: A Turkish task force will pay a visit, and Korea is providing $2.1B in soft loans.

Ukraine’s partners are planning its reconstruction: A Turkish task force will pay a visit, and Korea is providing $2.1B in soft loans. In the coming weeks, a Turkish group led by the Minister of Trade of Turkey, Omer Bolat, plans to visit Ukraine and determine priority projects that can be undertaken by companies that are not yet pre...

A land market phenomenon: Here’s why the frontier region has become one of the leaders in land sales.

A land market phenomenon: Here’s why the frontier region has become one of the leaders in land sales. The Sumy region took second and third place in terms of the number of transactions and the total area of plots that were purchased. In 2022, the region was under Russian occupation for almost two mont...

More than 85% of Ukrainian industrial parks are not operating; the parliament demands the reason why.

More than 85% of Ukrainian industrial parks are not operating; the parliament demands the reason why. Of more than 70 officially registered industrial parks, only about 10 are working, said Danylo Hetmantsev, head of the Tax Committee. “Nowadays, it is important not so much to create more new in...

During the first quarter, 18 Ukrainian startups attracted at least $42M in venture investment.

During the first quarter, 18 Ukrainian startups attracted at least $42M in venture investment. As noted, the quarterly figure may be higher, because not all deals were public. So, due to its non-public nature, the potentially largest investment on the list did not make it on the list. In Januar...

Tuesday, April 2

The reconstruction of Kharkiv will cost $10B, and the city needs the help of international partners.

The reconstruction of Kharkiv will cost $10B, and the city needs the help of international partners. According to Kharkiv mayor Igor Terekhov, rebuilding everything Russia has destroyed since the start of the war will require over $10B. The occupiers have almost completely destroyed the city’s commun...

NBU: After five months of declining sentiment, Ukrainian businesses have improved their expectations.

NBU: After five months of declining sentiment, Ukrainian businesses have improved their expectations. According to the NBU Business Activity Expectations Index, the increase in sea and rail transportation, the preservation of a stable situation on the foreign exchange market, low inflationary expectat...

In February, land market deals in Ukraine grew by 50%.

In February, land market deals in Ukraine grew by 50%. At the end of winter, the land market reached its highest level since the beginning of the full-scale war, increasing the number of properties sold by 50% compared to January. Legal entities also inte...

Ukraine’s accession to the EU will trigger an influx of foreign investment and changes in the financial sector.

Ukraine’s accession to the EU will trigger an influx of foreign investment and changes in the financial sector. The country’s accession to the EU entails a sharp increase in private foreign direct investment, said Tomas Fiala, CEO of Dragon Capital. “If you look at private investments in Poland, dur...

The integration of Ukrainian industry with its European counterparts will accelerate Ukraine’s accession to the EU.

The integration of Ukrainian industry with its European counterparts will accelerate Ukraine’s accession to the EU. The top manager of the British company Ferrexpo plc, Nick Bias, said: “We name 2030 as a potential date for Ukraine to join the EU. Recently, a green production agreement was signed, and steel p...

Despite the war, Ukraine plans to open six new shopping centers with a total area of more than 180,000 square meters.

Despite the war, Ukraine plans to open six new shopping centers with a total area of more than 180,000 square meters. The Ukraine Shopping Center, with a total area of 20,434 square meters, will open in Uzhgorod in December 2024. At the end of the year, the 5,600-square-meter Rosvygivsky shopping center is also expec...

Poland is preparing changes for refugees from Ukraine, and Germany is simplifying employment.

Poland is preparing changes for refugees from Ukraine, and Germany is simplifying employment. The Polish government wants to simplify the system of obtaining temporary residence permits for Ukrainians. The government has prepared a system allowing all persons with a PESEL UKR, without exceptio...

Monday, April 1

Ukraine will defer payments on its national debt with the US, and the Eurobond restructuring might include a partial debt write-off.

Ukraine will defer payments on its national debt with the US, and the Eurobond restructuring might include a partial debt write-off. Ukraine and the US signed an agreement to postpone public debt payments with a group of Ukraine’s creditors from the G7 countries and the Paris Club. At the same time, the debt sustainability analysis...

Ukrainian and Polish farmers agree on the export of a wide range of products, but not grain.

Ukrainian and Polish farmers agree on the export of a wide range of products, but not grain. Trade negotiations between Ukraine and Poland continue not only between governments but also at the level of agricultural associations. As a result, Ukraine reached an agreement on exporting chicken m...

How Ukraine’s budget was funded in March: $9B in external financing and $4B in taxes and fees.

How Ukraine’s budget was funded in March: $9B in external financing and $4B in taxes and fees. In March, the state budget’s general fund received ₴158.1B (over $4B) in taxes, fees, and mandatory payments. About ₴105.7B was received from taxes and ₴45.8B from the State Customs Service, but...

Currency restrictions effectively stabilize the Ukrainian economy, but they hold back investment.

Currency restrictions effectively stabilize the Ukrainian economy, but they hold back investment. The director of the NBU’s monetary policy department, Volodymyr Lepushynskyi, stated: “Currency restrictions are effective for stabilizing the economy, but they are burdensome for it and hold ba...

Transcarpathia plans to build a river port with access to the Danube and a multimodal terminal.

Transcarpathia plans to build a river port with access to the Danube and a multimodal terminal. The Transcarpathian regional state administration is studying the issue of allocating a plot of land to construct a river port and a multimodal terminal on the bank of the Tisza (one of the largest tr...

Friday, March 29

The EU has agreed on new terms for Ukraine’s trade benefits.

The EU has agreed on new terms for Ukraine’s trade benefits. Ambassadors from the EU member states reached a compromise on the issue of extending the preferential trade regime with Ukraine for another year. The agreement provides that the base period that will ...

Ukraine and Poland could not agree on unblocking the border; more time is needed.

Ukraine and Poland could not agree on unblocking the border; more time is needed. Minister of Agrarian Policy Mykola Solskyi commented on the meeting results in the tripartite format, Ukraine-Poland-EU. Negotiations on the issues of unblocking the border and finding common position...

How is Denmark helping to rebuild Ukraine?

How is Denmark helping to rebuild Ukraine? Recently, Denmark has become a leading provider of commercial support to Ukraine. The Danish government has done this through a fund that provides various commercial financing tools and reduces risk f...

How have Ukrainian businesses migrated during the war?

How have Ukrainian businesses migrated during the war? Since the beginning of the full-scale war, Ukrainian companies have changed their place of registration 18,944 times. It is noted that companies in wholesale trade move most often – 39.4% of the...

Ukraine’s partners provide tens of millions of euros in guarantees for Ukrainian business lending.

Ukraine’s partners provide tens of millions of euros in guarantees for Ukrainian business lending. The Polish bank BGK and Ukrainian Kredobank signed an addendum to an agreement. Kredobank will receive an additional €10M in EC guarantees for lending to Ukrainian entrepreneurs. These funds will incr...

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