Finance

Monday, July 11

Ukraine needs to maintain capital investment at 35% of GDP for at least five years.

Ukraine needs to maintain capital investment at 35% of GDP for at least five years. The Ukraine Ministry of Economy believes that for Ukrainian Economy to enjoy a large increase, Ukraine needs to maintain capital investments at 35% of GDP for at least five years consecutively, said M...

Thursday, July 7

The EU is developing a legal basis for the confiscation of Russian assets.

The EU is developing a legal basis for the confiscation of Russian assets. The European Union is developing legislation allowing the seizure of sanctioned Russian assets and using them for the post-war reconstruction of Ukraine, said Ursula von der Leyen. She added that the ...

After the Switzerland conference, Ukraine expects to receive $1.9B in aid.

After the Switzerland conference, Ukraine expects to receive $1.9B in aid. During the conference in Lugano, Switzerland, agreements were reached on financial support for Ukraine in the amount of $1.9B, announced Prime Minister Denys Shmyhal. Of this amount, $600M is provide...

Wednesday, July 6

Ukraine needs immediate funding of up to $65B.

Ukraine needs immediate funding of up to $65B. Ukraine has indicated it needs up to $65B this year to meet its funding requirements, billions more than its allies have so far been able to pledge, reported Bloomberg. This amount includes macro-fina...

Tuesday, July 5

Ukraine has asked the EU to allow displaced businesses to pay taxes in Ukraine.

Ukraine has asked the EU to allow displaced businesses to pay taxes in Ukraine. Minister of Social Policy Maryna Lazebna proposed to the members of the European Parliament to allow Ukrainians and Ukrainian companies to relocate to the EU and keep paying taxes in Ukraine. The Ukr...

The first stage of EU aid will come to Ukraine in the summer.

The first stage of EU aid will come to Ukraine in the summer. The first stage of macro-financial assistance from the EU within the framework of the new program for Ukraine will be provided immediately after ratification by the European Parliament and national pa...

Ukraine wants its own bank for reconstruction and development.

Ukraine wants its own bank for reconstruction and development. Ukraine is considering the possibility of creating a dedicated bank for its economic rebuilding and development through one of the state banks, as reported to UNIAN by the head of the Tax Committee, D...

Monday, July 4

Ukrainian Eurobonds have continued to fall in price for the last six weeks.

Ukrainian Eurobonds have continued to fall in price for the last six weeks. Last Friday, Ukrainian Eurobonds rose by an average of 1.7%, but overall, they lost 8.1% in value for the week. According to Bloomberg, among the dollar-denominated Eurobonds, the shortest papers mat...

Friday, July 1

Ukraine is considering its options to restructure debt.

Ukraine is considering its options to restructure debt. Ukrainian officials are exploring the possibility of debt restructuring as the war-ravaged country’s funding options are at risk of depletion, according to three people familiar with the discussions,...

Thursday, June 30

Ukraine plans to attract about $26.7B in assistance from international partners.

Ukraine plans to attract about $26.7B in assistance from international partners. Ukraine plans to attract about $26.7B in aid from its international partners by the end of the year, announced the Minister of Finance, Serhiy Marchenko. “What we have today is about $8.7B. We e...

Tuesday, June 28

Ukraine covers only 62% of the state budget expenditures.

Ukraine covers only 62% of the state budget expenditures. “We cover only about 62% of the state budget, and this does not take into account military expenditures. In addition to that, May’s inflation reached 18%,” said the Minister of Finance, Se...

Friday, June 24

The NBU has printed another UAH 35B for the government.

The NBU has printed another UAH 35B for the government. The National Bank of Ukraine (NBU) bought domestic government bonds from the Ministry of Finance for UAH 35B ($1.1B), reported the state bank. The economy is gradually adapting to the war, and state ...

Thursday, June 23

The Ministry of Finance denies an additional import duty of 10%.

The Ministry of Finance denies an additional import duty of 10%. Chairman of the Committee on Finance, Tax and Customs Policy Danylo Hetmantsev struck down the possibility of introducing an additional 10% import duty on non-critical imports, while the elimination o...

Wednesday, June 22

The government has resumed the taxation of imports and cars cleared through customs.

The government has resumed the taxation of imports and cars cleared through customs. The Ukrainian parliament re-established the customs duties for individuals when importing vehicles as well as the VAT on imported goods. The resumption of VAT payment on imports came into force for f...

State budget revenue show a 11% surplus in the first quarter.

State budget revenue show a 11% surplus in the first quarter. In the first quarter of 2022, Ukraine’s state budget revenue needs were exceeded by 11% due to the early payment of dividends. However, moving forward, the solvency of the country’s budge...

The state budget receives 30% of customs and 70% of tax revenues.

The state budget receives 30% of customs and 70% of tax revenues. Today, the state budget receives 30% of customs and 70% of pre-war tax revenues, said Finance Minister Serhiy Marchenko for EBA. He noted that Ukraine’s state budget is currently adjusted to mar...

The Ukrainian Government will give grants to new businesses through the eRobota program.

The Ukrainian Government will give grants to new businesses through the eRobota program. According to the Prime Minister of Ukraine, Denys Shmyhal, the Ukrainian government is launching the eRobota program, under which the state will provide grants of up to UAH 250,000 ($8,000) to start...

Ukraine has raised UAH 7.8B from the sale of military bonds.

Ukraine has raised UAH 7.8B from the sale of military bonds. At an auction on June 21, the Ministry of Finance raised almost UAH 7.8B from the sale of military bonds, and the rates remain unchanged. In total, investors were offered five issues of military bond...

Ukraine might be given a forbearance for foreign debt payments.

Ukraine might be given a forbearance for foreign debt payments. The possibility of providing Ukraine with foreign debt payment forbearance is currently being discussed, as announced by the National Bank of Ukraine. Today, the total financial assistance that has b...

Tuesday, June 21

The EU seeks agreement on a €9B loan to Ukraine this week.

The EU seeks agreement on a €9B loan to Ukraine this week. The European Union intends to agree on the details of the €9B financial assistance package for Ukraine in the coming days, reported Bloomberg. The new macro-financial assistance program will consist o...

The Ukrainian Parliament wants to start negotiations to write off the national debt.

The Ukrainian Parliament wants to start negotiations to write off the national debt. The Servant of the People political party called on the president and the government to start talks with international partners on writing off public debt. The statement was made by the Servant of th...

Ukraine’s Eurobonds continue losing their value.

Ukraine’s Eurobonds continue losing their value. Ukrainian Eurobonds have been falling in price for almost a month, losing an average of another 7.7% last week. The shortest-maturing securities decreased the least in September this year – by ...

Friday, June 17

The NBU’s removal of restrictions on the exchange rate has strengthened the hryvnia.

The NBU’s removal of restrictions on the exchange rate has strengthened the hryvnia. The removal of exchange rate restrictions for banks has stabilized the situation in the foreign exchange market and helped strengthen the hryvnia exchange rate, reported the National Bank of Ukraine. ...

The National Securities Commission has allowed the initial placement of securities.

The National Securities Commission has allowed the initial placement of securities. The National Securities and Stock Market Commission (NSSMC) has authorized the initial public offering of securities, including securities of collective investment institutions. However, there are cu...

Ukraine’s military bonds will back a new cryptocurrency.

Ukraine’s military bonds will back a new cryptocurrency. The ICU financial group, together with EVOL.TECH, will issue the UACB cryptocurrency, which is backed by government military bonds. The token will allow investors to invest cryptocurrency in the UACB...

Thursday, June 16

Naftogaz’s net income for 2021 is UAH 13B, compared to a UAH 19B loss in 2020.

Naftogaz’s net income for 2021 is UAH 13B, compared to a UAH 19B loss in 2020. The Cabinet of Ministers approved the Naftogaz Ukraine annual report for 2021 and recognized the work of the Naftogaz board in 2021 as satisfactory. The government approved Naftogaz’s yearly rep...

Ukraine has no problems with the repayment of external debt.

Ukraine has no problems with the repayment of external debt. Today, the main priority of the Ministry of Finance continues to be ensuring full reinvestment of domestic debt, both in hryvnia and in foreign currency, as stated by Government Commissioner Yuriy Bu...

Wednesday, June 15

The Ministry of Finance left fixed rates on military bonds and raised almost UAH 5.46B.

The Ministry of Finance left fixed rates on military bonds and raised almost UAH 5.46B. In total, investors were offered five issues of military bonds, one of which is denominated in euros. The biggest demand among hryvnia issues is concentrated on two-month securities, from the sale of...

Tuesday, June 14

Ukraine’s Eurobonds have become less expensive for the third week in a row.

Ukraine’s Eurobonds have become less expensive for the third week in a row. Ukrainian Eurobond prices have fallen for the third week in a row, dropping on average by another 4.5% last week. The shortest maturity securities, in September of this year, decreased the least ̵...

The economy is not yet ready to return to the floating Hryvnia exchange rate.

The economy is not yet ready to return to the floating Hryvnia exchange rate. Maintaining exchange rate stability under the current conditions is the key to price and financial stability, said the Monetary Policy Committee of the NBU. Experts say that exchange rate stability r...

Friday, June 10

The NBU has printed more money, this time UAH 70B.

The NBU has printed more money, this time UAH 70B. The National Bank of Ukraine issued another UAH 70B ($2.35B) through the acquisition of military IGLBs, while the government tied the regulator’s rate to the accounting rate, reported the NBU. The re...

The EU will allocate €20M to support Ukrainian startups and innovation projects.

The EU will allocate €20M to support Ukrainian startups and innovation projects. According to the European Commission, thanks to a targeted amendment to the European Innovation Council (EIC) work program in 2022, a new initiative will support at least 200 Ukrainian high-tech start...

ICLUB Global launches an online platform for investing in startups.

ICLUB Global launches an online platform for investing in startups. Private investor club ICLUB Global has launched the ICLUB Online platform, allowing anyone to invest in startups with TA Ventures and other club members. Along with the online platform launch, the cl...

Thursday, June 9

The World Bank has downgraded its Ukrainian inflation forecast to 20%.

The World Bank has downgraded its Ukrainian inflation forecast to 20%. The World Bank has downgraded its inflation forecast in Ukraine to 20% by the end of 2022, whereas the April forecast was 15%, according to the World Bank regional director. “The increase in inflatio...

The World Bank allocates an additional $1.49B to Ukraine.

The World Bank allocates an additional $1.49B to Ukraine. On Tuesday, the World Bank’s Executive Board decided to provide Ukraine with $1.49B in additional funding to pay public and social workers, increasing the total amount of promised support to mo...

Ukrainian banks no longer need refinancing from the NBU.

Ukrainian banks no longer need refinancing from the NBU. The cost of refinancing from the National Bank of Ukraine has increased along with the increase of the key policy rate, which makes such an instrument unattractive for banks, reported Financial Club....

Wednesday, June 8

The Ukrainian government wants to boost businesses through a grant program.

The Ukrainian government wants to boost businesses through a grant program. Prime Minister Denys Shmyhal instructed the relevant ministries to immediately work out proposals for a grant program to support small and medium-sized enterprises. Through the grant support of Ukrai...

The NBU has increased the credit period on export-import operations.

The NBU has increased the credit period on export-import operations. The National Bank of Ukraine will increase the credit period on export-import operations from 90 to 120 calendar days, starting June 8. It is noted that the decision to increase the payment deadlines ...

Ukraine’s international reserves have decreased by 7%.

Ukraine’s international reserves have decreased by 7%. In May, Ukraine’s international reserves fell by 7% – as of June 1 these reserves, according to preliminary data, amounted to $25.1 B, reported the National Bank of Ukraine. In May, rese...

The placement of military bonds has attracted a record small amount.

The placement of military bonds has attracted a record small amount. On June 7, the Ministry of Finance placed military bonds worth almost UAH 810M ($27M) announced the Ministry’s press service. Investors were offered hryvnia bonds with a maturity of 3 and 6 mont...

Tuesday, June 7

Military bond rates will not change despite the key policy rate increase.

Military bond rates will not change despite the key policy rate increase. The Ministry of Finance has stated that it will keep rates on military bonds fixed despite raising the National Bank’s discount rate to 25%. The NBU stresses that the funds from the sale of mil...

The farmer loan portfolio has grown by over 50%.

The farmer loan portfolio has grown by over 50%. As of the beginning of May 2022, the share of loans granted by banks to companies related to agriculture, forestry, and fisheries was 13.2% of the total number of loans, reported Opendatabot. In tota...

Ukrainian Alfa-Bank will change its name.

Ukrainian Alfa-Bank will change its name. The Board of Alfa-Bank Ukraine wants to change the bank’s name not to be associated with the brand of the Russian sanctioned Alfa-Bank, stated Simeon Dyankov. He acts as a proxy with the right t...

Monday, June 6

The National Bank of Ukraine has sold $9B in 2022.

The National Bank of Ukraine has sold $9B in 2022. After the National Bank’s record sale of a currency on the market last week, the volume decreased slightly and amounted to $826M. Since the beginning of the year, the bank has sold $9.4B. A week...

Friday, June 3

The National Bank of Ukraine raises the key policy rate to 25%.

The National Bank of Ukraine raises the key policy rate to 25%. The National Bank decided to increase the rate from 10% to 25%, stated NBU Chairman Kyrylo Shevchenko. He stressed that such an increase in the discount rate is to protect hryvnia income and savings. ...

The NBU proposes an additional import duty on non-critical categories of imports.

The NBU proposes an additional import duty on non-critical categories of imports. The National Bank of Ukraine offers, in addition to the resumption of import taxation, to introduce an additional import duty on non-critical imports, said Deputy Chairman of the NBU Yuri Geletiy. Ac...

Thursday, June 2

The prolonged war is forcing a change in monetary policy.

The prolonged war is forcing a change in monetary policy. The need to change monetary policy, which the National Bank of Ukraine raised, is due to the economy’s need to adapt to the protracted war, said a member of the NBU Council, Viktor Kozyuk. “Thre...

Wednesday, June 1

The EU summit agreed on an oil embargo, but with exceptions.

The EU summit agreed on an oil embargo, but with exceptions. The European Union overcame the resistance of several skeptical states and made a political decision to impose an oil embargo on Russia. European Council President Charles Michel stressed that the dec...

The EU will provide €9B in macro-financial support to Ukraine.

The EU will provide €9B in macro-financial support to Ukraine. European Union leaders have decided to provide Ukraine with a €9B loan to meet urgent budget needs, stated European Commission President Ursula von der Leyen. Currently, Ukraine needs about €5B a mon...

Military bonds can be purchased through the e-government Diia app.

Military bonds can be purchased through the e-government Diia app. The portal and Diia application will be replenished with new features, including buying military bonds and accessing some e-notary services, said Minister of Digital Transformation Mikhail Fedorov. Th...

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