economyofukraine

Monday, October 24

The Ukrainian government has announced increased business deregulation. The government proposes to simplify the regulatory environment as much as possible by canceling most outdated regulatory documents, Deputy Minister of Economy of Ukraine Denys Kudin said. According to...

Ukraine identifies four industries that will become the engine for the economy’s recovery. The government is betting on development in four priority industries that will become the Ukrainian economy’s engine for the recovery, said the Minister of Economy of Ukraine, Yuliya Svyridenko. The U...

Monday, September 26

Zelenskyy explains how the supply of air defenses will launch the Ukrainian economy. President Volodymyr Zelenskyy has called on countries that have or are producing air defense systems to help Ukraine secure its skies and enable the Ukrainian economy to operate. As the president expl...

Thursday, September 1

Ukraine has presented a 10-year plan for a three-fold economic jump. The Ministry of Economy presented 10-step plan to international experts that Ukraine needs to triple its economy. The plan envisages the transition from a transitional economy of $4,000 per capita GDP...

Friday, August 26

The government has given an optimistic forecast for Ukraine’s economy. According to an optimistic scenario, after falling by 30-35% in 2022, Ukraine’s economy may stabilize and grow by 15.5% next year. As Economic Minister Yulia Svyridenko stated in an interview wi...

Friday, July 22

The NBU predicts a 2022 drop in GDP by a third and an increase in inflation to more than 30%. The national bank estimates that the economy will decline by 40% in the first half of this year and at the end of the year down by a third, the National Bank of Ukraine reported. At the same time, ana...

Friday, August 27

The economy is recovering from the “coronavirus downfall, ” the Prime Minister Denys Shmyhal told the Government on August 26. “For the first time in many months, the agricultural sector grew by 2.5%. There’s an active upturn is in important industries...

Monday, April 12

The economy contracted by 2.8% in January and February, compared to the first two months of last year, estimated the Ministry of Economic Development and Trade. Except for retail trade, all sectors were down. Consensus forecasts put Ukraine’s 2021 GDP growth at 4%. These forecasts were made before the ...

Tuesday, March 23

President Zelenskiy has signed off on the creation of Ukraine’s Bureau of Economic Security (BEB), the Presidential press office has reported. “The main function of the Bureau of Economic Security will be analytical work, not law enforcement. The Bureau will analyze the beneficiaries of finan...

Wednesday, February 17

German and Biden Administration officials are discussing a package of measures that would allow the Russia-German gas line to open, but protect Ukraine’s security concerns German and Biden Administration officials are discussing a package of measures that would allow the Russia-German gas line to open, but protect Ukraine’s security concerns, according to a Financial Ti...

“As Berlin seeks solutions, early signs from Washington indicate that the Biden administration is seeking to defuse the Nord Stream 2 debate,” “As Berlin seeks solutions, early signs from Washington indicate that the Biden administration is seeking to defuse the Nord Stream 2 debate,” the FT writes. “Two knowledgeable sources said [US Secret...

A cold weather spike in electricity consumption, a lack of coal, and power plant breakdowns are forcing Eastern Ukraine to import electricity A cold weather spike in electricity consumption, a lack of coal, and power plant breakdowns are forcing Eastern Ukraine to import electricity from Belarus and Russia and Western Ukraine to import elec...

Electricity consumption last week was 6.5% more than forecast Electricity consumption last week was 6.5% more than forecast. But coal reserves fell to one third of required minimums. Thanks to imports, Kudrytskyi does not predict immediate power shortages.

DTEK Group, Ukraine’s largest private power producer DTEK Group, Ukraine’s largest private power producer, called on the government yesterday “to abolish price caps, which are an obstacle to the liberalization of the electricity market.” The company cit...

Ukraine’s Energoatom will soon stop sending spent nuclear fuel to Russia for processing and storage Ukraine’s Energoatom will soon stop sending spent nuclear fuel to Russia for processing and storage, Petro Kotin, the company head, said yesterday. In July, the Centralized Spent Fuel Storage Facility...

With demand strong for Ukrainian government bonds, the Finance Ministry depressed yields on all five hryvnia bonds sold at yesterday’s auction With demand strong for Ukrainian government bonds, the Finance Ministry depressed yields on all five hryvnia bonds sold at yesterday’s auction, the Ministry reported. With yields dropping from six to ...

Looking beyond the bland public statements surrounding Ukraine’s recent suspension of talks with the IMF, Looking beyond the bland public statements surrounding Ukraine’s recent suspension of talks with the IMF, Anders Aslund, a veteran IMF observer, writes in an Atlantic Council blog: “No agreement was c...

DiDi, China’s giant online taxi service, plans to launch this year in Ukraine, reports AIN.ua news site. With 550 million users DiDi, China’s giant online taxi service, plans to launch this year in Ukraine, reports AIN.ua news site. With 550 million users, tens of millions of users and billions of dollars in revenues, DiDi ent...

DiDi will compete with Bolt, Uber and Uklon for Ukraine’s taxi market, estimated by Uklon at $800 million a year. DiDi will compete with Bolt, Uber and Uklon for Ukraine’s taxi market, estimated by Uklon at $800 million a year. Uber, the first mover in Ukraine, now operates in seven Ukrainian cities and claims th...

Taxi services got a boost yesterday when the Rada overwhelmingly approved a bill raising the penalty for drunk driving to $608 Taxi services got a boost yesterday when the Rada overwhelmingly approved a bill raising the penalty for drunk driving to $608. For repeat offenders, the fine is doubled to $1,216, licenses are suspen...

McDonald’s Ukraine plans to expand a pilot program of restaurant waste recycling to all 96 restaurants in the country by the end of this year McDonald’s Ukraine plans to expand a pilot program of restaurant waste recycling to all 96 restaurants in the country by the end of this year, the company announced yesterday. As part of a world...

Kyiv’s 11th Regus office work space opens in Podil next month Kyiv’s 11th Regus office work space opens in Podil next month, reports the parent company, Luxembourg-based IWG Plc. Despite last year’s economic recession, total occupancy of the 10 existing Regus wo...

Kyiv’s Sikorsky Airport is to add 500 meters to its runway, allowing Wizz Air, its primary user, to use larger jets. Kyiv’s Sikorsky Airport is to add 500 meters to its runway, allowing Wizz Air, its primary user, to use larger jets. By moving to Airbus 321 jets, Wizz Air says it can reduce frequencies and noise in ...

Mayor Klitschko signed an order last week for design work to start on a 5-year upgrade of the airport Mayor Klitschko signed an order last week for design work to start on a 5-year upgrade of the airport. By expanding the runway to 2,810 meters, upgrading lights and adding an instrument landing system...

Wednesday, February 10

Vaccinations are scheduled to start Monday, drawing on an expected shipment of 117,000 Pfizer vaccines. President Zelenskiy talked on the phone Monday afternoon with Albert Bourla, Vaccinations are scheduled to start Monday, drawing on an expected shipment of 117,000 Pfizer vaccines. President Zelenskiy talked on the phone Monday afternoon with Albert Bourla, CEO of Pfizer Pharm...

All Ukrainians should have access to vaccines by the end of this year, All Ukrainians should have access to vaccines by the end of this year, Health Minister Maksym Stepanov told ICTV’s Freedom of Speech program. He vowed: “We want to ensure that 100% of the population h...

Ukraine’s turn last month to Britain’s Crown Agents to buy coronavirus vaccines illustrates the difficulty in breaking ingrained traditions of drug profiteering at the Health Ministry Ukraine’s turn last month to Britain’s Crown Agents to buy coronavirus vaccines illustrates the difficulty in breaking ingrained traditions of drug profiteering at the Health Ministry, Pavlo Kovtoniuk...

The vaccination of 10 million Ukrainians at risk – about one third of all adults – is a condition for Ukraine receiving The vaccination of 10 million Ukrainians at risk – about one third of all adults – is a condition for Ukraine receiving a $30 million World Bank loan this spring under its Covid-19 Emergency Response ...

US support to Ukraine for combatting the pandemic totals $48 million over the last year US support to Ukraine for combatting the pandemic totals $48 million over the last year, Kristina A. Kvien, US Chargé d’Affaires, told the Coronavirus Forum on Monday. She said the money has gone to b...

Germany is proving Ukraine with a €13.1 million medical care grant that includes supplying equipment for outpatient diagnosis and treatment of coronavirus Germany is proving Ukraine with a €13.1 million medical care grant that includes supplying equipment for outpatient diagnosis and treatment of coronavirus. This grant, and a second one for €23.5 milli...

Talks with IMF will be delayed to the spring, making a staff level agreement in May the optimistic scenario Talks with IMF will be delayed to the spring, making a staff level agreement in May the optimistic scenario, Liga.net reported in a lengthy story, citing unnamed Rada members and Central Bank official...

Dragon writes Dragon writes: “The government has sufficient liquidity buffers to proceed without IMF financing until end-May (assuming full rollover of domestic debt), but faces an increase in fiscal funding needs ...

The Finance Ministry increased 2.5-fold its sale of bonds yesterday The Finance Ministry increased 2.5-fold its sale of bonds yesterday, but kept yields largely unchanged at the weekly auction, according to results posted on Facebook. Of the total $467 million in doll...

With snow and sub-freezing temperatures forecast through Friday, restrictions on trucks entering Kyiv are expected to continue off and on. With snow and sub-freezing temperatures forecast through Friday, restrictions on trucks entering Kyiv are expected to continue off and on. At a peak, 3,000 trucks were stopped outside the capital, wit...

Due to the cold temperatures, coal reserves at thermal power plants fell sharply during the first week in February, hitting 57% of minimum, required volumes Due to the cold temperatures, coal reserves at thermal power plants fell sharply during the first week in February, hitting 57% of minimum, required volumes, Ukrenergo reported yesterday. To fill the ...

DTEK Energy has announced a tentative agreement with bond and bank debt holders to restructure much of its $2 billion bond and bank debt DTEK Energy has announced a tentative agreement with bond and bank debt holders to restructure much of its $2 billion bond and bank debt. After 10 months of negotiations, the deal’s center piece is ex...

Analysts generally welcomed the proposed exit from a default that rattled investors last March: Analysts generally welcomed the proposed exit from a default that rattled investors last March:

Ukraine’s economic activity in the fourth quarter of last year was only down 1% yoy, far better than the forecast drop of 3% Ukraine’s economic activity in the fourth quarter of last year was only down 1% yoy, far better than the forecast drop of 3%, Economy Minister Ihor Petrashko told reporters Tuesday at the Ukraine 30 C...

Adamant Capital wrote: “The updated terms look significantly better than those disclosed at the end of November…We confirm our ‘Buy’ recommendation.”

Ukraine’s steel production could increase by as much as 6% this year, to 21.8 million tons, Ukraine’s steel production could increase by as much as 6% this year, to 21.8 million tons, according to a study prepared by the GMK Center, a metals industry analytical and consulting group: “Forecas...

Concorde Capital wrote Concorde Capital wrote: “The updated DTEK’s offer provides more clarity about minimum payments to bondholders…the updated restructuring terms look balanced.”

Ukraine’s full bore coronavirus vaccination campaign may be delayed from March to April Ukraine’s full bore coronavirus vaccination campaign may be delayed from March to April because of government paper work delays in China and Ukraine, reports Reuters. Last week, Ukraine’s Lekhim asked...

Dragon Capital wrote Dragon Capital wrote: “The updated restructuring terms mark a significant improvement over the previous version…The new proposed DTEK Energy bond structure is also simpler than the previous variant an...

Friday, January 22

Ukraine’s economy contracted by 4.4% in 2020 — far less than the estimates of 6-7% made last May Ukraine’s economy contracted by 4.4% in 2020 — far less than the estimates of 6-7% made last May, when the country was still in a severe lockdown, reported the National Bank of Ukraine. Despite ...

The Central Bank board decided yesterday to key Ukraine’s prime interest rate at 6% The Central Bank board decided yesterday to key Ukraine’s prime interest rate at 6%, the level it reached last June. In the 15 months prior to June 2020, the National Bank of Ukraine cut prime by two ...

Eying inflation, the Central Bank warned that if inflation increases, “ Eying inflation, the Central Bank warned that if inflation increases, “the National Bank will raise the discount rate. This will curb the acceleration of inflation in 2021 and return it to 5% in 2022....

Average borrowing costs for businesses dropped by 45% over the last year Average borrowing costs for businesses dropped by 45% over the last year, Kyrylo Shevchenko, Governor of the Central Bank, told reporters yesterday. “As for the cost of loans for businesses in the nat...

The contract of Petr Krumphanzl, Chairman and CEO of PrivatBank, expires tomorrow The contract of Petr Krumphanzl, Chairman and CEO of PrivatBank, expires tomorrow. While the Board looks for a successor, leadership of Ukraine’s largest and most profitable bank will go to Anna Samar...

President Biden should bolster “US support for Ukraine in order to get the country back on the reform track,” President Biden should bolster “US support for Ukraine in order to get the country back on the reform track,” Andy Hunder, president of the American Chamber of Commerce in Ukraine, urges in a new essa...

“The top priorities of the Biden administration’s Ukraine policy must be to curtail Russian aggression, reduce corruption, and contain the oligarchs… “The top priorities of the Biden administration’s Ukraine policy must be to curtail Russian aggression, reduce corruption, and contain the oligarchs…What Ukraine’s shady oligarchs fear most of all is ...