Finance

Wednesday, October 13

Global minimum income tax of 15%. Last week representatives of 136 countries including Ukraine, supported the Statement on the introduction of a global minimum income tax of 15%. The event, dubbed “historic” and “the...

On October 12, the Ministry of Finance raised UAH 514 mln ($19.54 mln) from the placement of domestic government bonds, it reported on its Facebook page. It offered investors five issues of securities in the national currency and noted that bond rates remained unchanged compared to previous auctions. The weighted avera...

Monday, October 11

GDP growth in 2021 may reach 4%. This will mean that the Ukrainian economy has bounced back after the economic decline due to the coronavirus crisis said Prime Minister Denis Shmyhal on his Facebook page. Shmyhal said that the optimi...

Ukrzaliznytsia has reduced company loss to UAH 468.8 ($17.6 mln) . In September, UZ earned UAH 321.9 ($12.1 mln) in profits. The company managed to reduce losses to UAH 468.8 ($17.6) mln in the first nine months of 2021, reported the press service of Ukrzaliznytsia...

Inflation in Ukraine accelerated to 11% in September reported open4business. The year-over-year growth of consumer prices in Ukraine in September 2021 increased to 11% from 10.2% in August 2021. According to the Statistic Service of Ukraine, after defla...

Friday, October 8

Ukraine International Reserves amounted to $ 28.7 bln, reported NBU on October 1st. In September, reserves decreased by 9.2% due to the period of peak payments on external liabilities of the state. The current level covers 4 months of future imports, whic...

The average salary in Ukraine has exceeded $500. This is an absolute record for our country said Prime Minister Denys Shmyhal. “In June this year, it amounted to 14,313 hryvnias ($525), an increase over the year by almost 24%. The largest average sa...

Ukrainians purchased UAH 2 bln ($75.5) in Government bonds from PrivatBank. Since the beginning of 2021, Ukrainians have purchased more than UAH 2 bln worth of domestic government bonds through Privatbank, of which 65% (almost UAH 1.3 billion) are online through Privat24. At ...

Thursday, October 7

Top 5 profitable banks in Ukraine. National Bank of Ukraine announced the most profitable Ukrainian banks in the first seven months of the year. PrivatBank UAH 18.5 bln ($698 mln), Sberbank UAH 3.4 bln ($128 mln), Raiffeisen Bank UAH 3...

The interest rate for hryvnia deposits has increased and there is still room for growth. The maximum rate on national currency deposits for 12 months increased from 11.25% to 11.75% per annum. Banks are working hard to attract new depositors, ...

The investment firm, Dragon Capital, has entered the banking sector. They will develop Unex-Bank as a separate business, as an independent universal bank, which will service both retail clients, and those in the corporate sector, namely SMEs, said the founder of Dragon...

Wednesday, October 6

The Black Sea Trade and Development Bank has approved 53 investment projects in Ukraine valued at €842.7 mln. Full funding has already been allocated for 48 projects valued at €776.2 mln in Ukraine. “This confirms the status of Ukraine as an active participant in international economic relations”, said the De...

The Ministry of Finance has sold bonds to the value of UAH 2.465 bln ($93 mln) . At the Bond auctions, the Ministry of Finance offered investors six issues of securities in the national currency. The weighted average yield of 6-month was 9.70%, 1-year – 11.50%, 1.5-year &#...

Another lockdown may lead to a reduction in Ukraine’s GDP. The Governor of the National Bank of Ukraine (NBU), Kyrylo Shevchenko, said that a possible lockdown in Ukraine, depending on the format and severity of quarantine restrictions, may lead to a 0.4%-0.6...

Tuesday, October 5

The state program “Affordable Loans 5-7-9%” continues to grow . Just in a week, the program issued 480 loans totaling UAH 1.2 billion, reported gov.ua. Since the start of “5-7-9%”, representatives of micro, small and medium enterprises (SMEs) have re...

Crypto ownership in Ukraine is a higher investment in this currency than in the US. As of 2021, Ukraine tops the ranking, beating the US. It is estimated that over 5.5 million people, 12.7% of Ukraine’s total population, currently own cryptocurrency (ukrinform). According to Triple-A...

Monday, October 4

September Business Outlook Survey (BOS) shows that businesses remain upbeat about their performance outlook. In the first month of fall, businesses remained upbeat about their performance outlook on the back of robust consumer demand, a favorable...

Hryvnia has become one of the currencies worldwide that strengthened the most in 2021. Ukrainian hryvnia is among the ten currencies in the world that strengthened the most against the US dollar in 2021. According to Ukrinform, this is supported by Bloomberg ratings, with currencies in ...

Friday, October 1

The Ministry of Finance of Ukraine redeemed $1 bin US guaranteed Eurobonds Ukraine has repaid the third and last issue of the US guaranteed notes. The total payment of $1 bln was a redemption payment and interest payments amounted to $7.355 million. The Eurobond was issued u...

Ukrainian stock market has its first IPO The first for many years with the placement of 500,000 common shares of the Football Club Veres at the PFTS stock exchange in Kyiv. The announcement was made by Taras Teryuchnyi on Linkedin. The share...

The peak inflation is lower than expected Speaking with Bloomberg, the Deputy Chairman of the NBU, Serhiy Nikolaychuk, said: “We see that the peak inflation is lower than expected, and expect inflation to reach about 10.5% at the peak (...

Thursday, September 30

The average salary in Ukraine grew by 22%. In August 2021, the average nominal salary was UAH 13,997 ($524). This is 22.3% than that of the previous period in August 2020 (State Statistics Service) Accordingly the average nominal salary of a f...

Wednesday, September 29

The Ministry of Finance sold government bonds to the value of nearly UAH 7 billion. Raising UAH 6.962 billion at the auction for the placement of domestic government bonds, as reported on the Ministry’s Facebook page. Investors were offered five issues of securities in hryvnia ...

Tuesday, September 28

Banks issued affordable loans worth UAH 1.3B last week. Last week authorized banks issued 439 loans for a total sum of UAH 1.3 billion ($48 mln) under the government’s program “Affordable Loans at 5-7-9%”. Since the start of the program, authorized b...

Kernel Verevsky bought back $50 million of its shares. Kernel’s subsidiary Etrecom Investments Limited of Cyprus has repurchased 3.23 million shares of Kernel shares at PLN 60 per share for a total of PLN 193.62 million (approximately $ 49.3 million...

Friday, September 24

The Surkis brothers lost the lawsuit against Poroshenko and Gontareva. A London court rejected the $350 mln claim against Petro Poroshenko and Valeria Gontareva in the PrivatBank case. The London court issued their decision with denied the claim that Igor Surkis and a gr...

Business confidence buoyed by financial strength by end-2021. In 2021, 90% of business representatives gave an upbeat forecast on their companies’ financial health at the end of the year: 62% will achieve planned financial results, 28% will achieve more th...

Thursday, September 23

The volume of short-term external debt decreased in the first half of the year by 2.5% – the NBU reported. The volume of short-term external debt with a residual maturity (payments in the next 12 months) for the first half of 2021 decreased by 2.5% to $ 47.3 billion. According to the report, Ukraine’...

Wednesday, September 22

The net profit of Ukrainian banks was valued at UAH 45.6 bln ($1.7 bln) in January-August 2021, which is UAH 13 bln ($0.48 bln) more than in the same period in 2020. This announcement which was posted by the NBU on its Telegram channel concluded that the 40% in...

The program “Affordable loans 5-7-9%” will continue into 2022. The draft state budget for 2022 provides for 3 bln UAH ($111 mln) for the program, as reported by the Ministry of Finance on Facebook.

“OdessaVinProm” was sold by the State Property Fund of Ukraine for UAH 234.9 mln ($8.8 mln). In the announcement, the fund said that 12 companies took part in the auction, and the starting price of the asset increased more than three-fold from 65 million to 234 million 900 tho...

Tuesday, September 21

Ukraine plans to issue Eurobonds valued at $1.5 bln. The government borrowing plan for 2022, submitted by the government to the Verkhovna Rada along with the draft state budget. It involves the issue of Eurobonds with a maturity of 5-15 years for the eq...

NBU forecasts the key policy rate reduction in the second quarter of 2022. One of the main drivers of such inflation dynamics is the sustained high price level in the global commodity markets. Inflation in Ukraine’s MTPs also remains high, although in August there were signs...

The ports of Ust-Dunaisk, Belgorod-Dniester, and Skadovsk will be privatized. Local and cross-border investors will be able to participate in online auctions for the privatization of the three ports in the sea harbors of the Odessa region. The privatization was announced by the...

Metinvest enterprises will allocate UAH 26.7 billion for dividend payments. PrJSC Mariupol-based Illich Iron and Steel Works (Donetsk region) will pay UAH 11.004 bln for the payment of dividends from retained earnings, Azovstal – UAH 7.718 billion, PrJSC Dniprovsky Coke and C...

Foreign direct investment growth in Ukraine. UkraineInvest has already received applications for almost $ 2 billion of investment, announced its CEO, Sergiy Tsivkach. In the first half of the year, foreign direct investments increased by $ 2.7 b...

Ukrzaliznytsia agrees to pay some of the Debt to VR Global Partners L.P. In 2019, Ukrzaliznytsia’s debts to PJSC Prominvestbank valued at $153.25 million were sold to VR Global Partners L.P. UZ stating that they are ready to pay only confirmed debt obligations and ar...

Monday, September 20

Exports grow. The State Statistics Service has published new data on exports of Ukrainian goods. In January-July 2021 they grew by 33.4%. Exports to the European Union increased by almost 50%. Significant growth is...

President’s office estimates Ukraine’s GDP at 3.8 in 2021. Deputy Head of the President’s Office Yulia Svyrydenko says: “We expect that a full-fledged economic recovery will take place during this and subsequent years. This year we forecast the gr...

Friday, September 17

The Cabinet of Ministers proposes the Verkhovna Rada to establish a subsistence minimum of UAH 2,393 ($89) from January 1, 2022, and a minimum wage of UAH 6,500 ($240) reported ukranews.com. It is envisaged that in 2022 the subsistence minimum wage from January 1 will be UAH 2,393 ($89), from July 1 – UAH 2,508 ($93), and from December 1 – UAH 2,589 ($96).

Thursday, September 16

The Ukrainian government has approved a draft budget for 2022 with a deficit of 3.5%, Reuters has reported. The gross domestic product (GDP) deficit is down from 5.5% in 2021. Speaking during a televised government meeting, the Prime Minister, Denys Shmygal said...

The State Budget 2022 plans to allocate $7.3 billion to medicine reported in 112international. The average monthly salary of a doctor will be $850, and nursing staff $550 per month. The Minister of Finance, Marchenko said that there will now be a minimum monthly sa...

Draft Budget 2022 expenditures: Census, Action and IT: almost ₴ 8 billion digital expenditures; ₴ 124.1 billion for the development of road infrastructure in Ukraine; ₴ 8 billion for agriculture; ₴ 7.5 billion provided for the devel...

NBU and the World Bank Framework Program of Cooperation for 2022–2025 have been discussed by Kyrylo Shevchenko and the World Bank Vice President, Anna Bjerde. During the meetings they have identified areas in which the World Bank can support reforms to the Ukrainian eco...

National Bank of Ukraine has registered two more legal collection companies. On September 3rd, 2021, the National Bank registered the first five collection companies. For the first time, the NBU has provided legislative regulation of the behavior of collection companies and fi...

Ukraine’s GDP in January-July grew by 2.1% according to the Ministry of Economy. The GDP of Ukraine for seven months of 2021 increased by 2.1% against a decrease of 6.1% in 2020. In July 2021, almost all major economic activities, except whole...

The share of the IT industry in the Ukrainian economy is 4% of GDP. The government wants to focus on this industry and significantly increase revenues. According to the results of 10 years, the percentage increased in the IT industry, to 4.9% in 2020 and to 5.6% in th...

Wednesday, September 15

Ukraine will receive € 600 million from the EU. The Prime Minister also accentuated that Ukraine had received a positive message from the European Union to obtain macro-financial support in the amount of €600 million. According to the Prime Ministe...

Direct investment projects of Shanghai in Ukraine in telecommunications, energy, and agriculture sectors, reported the Odessa Journal. Shanghai is developing a number of projects in Ukraine in the agro-industrial sector and foresees prospects for cooperation in energy, infrastructure, agriculture, accordi...

Tuesday, September 14

The IMF mission in Ukraine commented on the first revision of the stand-by arrangements to commence on September 21 to September 23, 2021, The IMF Representative in Ukraine, Vladyslav Rashkovan said. “The mission could start working in 10-12 days, and most likely the mission will be virtual,” he said speaking at the YES Brain...