financeUkraine

Friday, September 15

The National Bank has cut the key policy rate to 20%.

The National Bank has cut the key policy rate to 20%. On September 14, the board of the National Bank decided to reduce the discount rate to 20%, announced the board chairman of the NBU, Andriy Pyshnyy. He noted that the further slowdown of inflation and...

Tuesday, September 12

Since the war began, bonds tied to Ukraine’s GDP have increased in value to the highest level.

Since the war began, bonds tied to Ukraine’s GDP have increased in value to the highest level. The price of Ukraine’s GDP warrants, according to the results of the September 8 auction, increased by approximately two percentage points – up to 49.2% of the nominal value. This is the h...

Ukraine will start raising taxes on banks first if the IMF requests higher taxes.

Ukraine will start raising taxes on banks first if the IMF requests higher taxes. As of today, the Ministry of Finance does not foresee changes in the tax system anytime soon, and there is no need to talk about tax increases, Minister of Finance Serhiy Marchenko said at the EBA Glo...

Monday, September 11

Ukraine is preparing to turn a state bank into a development bank.

Ukraine is preparing to turn a state bank into a development bank. The goal is to turn one of the state banks into a development bank, similar to KfW in Germany, said the head of the Parliamentary Committee on Finance, Danylo Hetmantsev, during the Yalta European Str...

Thursday, September 7

Due to reduced international aid, Ukraine’s international reserves decreased by 3.2% in August.

Due to reduced international aid, Ukraine’s international reserves decreased by 3.2% in August. As of September 1, the aid volume was about $40.4B, dropping by $1.4B in August, the National Bank reported on Wednesday. The reason for the decrease was the NBU’s FX sales to cover the differen...

Wednesday, September 6

The NBU expands the list of reserve bonds and reported on income from the sale of securities.

The NBU expands the list of reserve bonds and reported on income from the sale of securities. Starting September 11, the National Bank will increase the list of benchmark bonds of the domestic state loan, through which banks can cover part of their required reserves, the regulator said in a st...

Tuesday, September 5

Ukraine’s state budget deficit increased to almost UAH 131B in August.

Ukraine’s state budget deficit increased to almost UAH 131B in August. The state budget deficit in August 2023 amounted to UAH 130.7B, compared to UAH 107.6B in July, the Ministry of Finance reported. It is noted that cash expenditures in the state budget increased signi...

Friday, September 1

The Ministry of Finance has announced the main financial indicators for the 2024-2026 budgets.

The Ministry of Finance has announced the main financial indicators for the 2024-2026 budgets. The Ministry of Finance has published instructions for preparing budget requests for the next year. The document suggests setting the dollar exchange rate at UAH 41.4 to $1 for the 2024 state budget p...

Thursday, August 31

Ukraine has fulfilled another IMF beacon: the new Financial Sector Development Strategy.

Ukraine has fulfilled another IMF beacon: the new Financial Sector Development Strategy. This blueprint for developing the financial sector during the war envisages inflation at a level of less than 15% and possible deviations of the hryvnia to dollar cash rate from the official rate belo...

Wednesday, August 30

Ukraine has eased currency restrictions to strengthen the national currency.

Ukraine has eased currency restrictions to strengthen the national currency. As of August 29, banks are now allowed to sell non-cash foreign currency without confirming the grounds or obligations for such a transaction, the NBU reported. The National Bank specified that this a...

The upward trend in bank deposit rates declined due to the NBU’s reduced key policy rate.

The upward trend in bank deposit rates declined due to the NBU’s reduced key policy rate. Ukrainian banks began to retreat from record high deposit rates on consumer deposits after the NBU beganits discount rate reduction cycle in July, when it was reduced from 25% to 22%, according to ind...

Monday, August 28

National Bank assets increased by 17%, and profit reached UAH 43B.

National Bank assets increased by 17%, and profit reached UAH 43B. The result of the NBU’s activities, according to the results of the first half of the year, was a net profit of more than UAH 43B ($1.17B), and the bank’s assets increased by 17% to UAH 2....

Thursday, August 24

The popularity of microcredits is growing in Ukraine.

The popularity of microcredits is growing in Ukraine. As well, there is a decrease in the average loan amount, reported Opendatabot. In the first half of the year, 3.8 million microloans were issued for a total of UAH 18.4B. For comparison, in 2022 Ukrai...

Thursday, August 17

Ukraine is in the top five world leaders for contactless payments.

Ukraine is in the top five world leaders for contactless payments. For the past five years, Ukraine has consistently been among the top ten countries regarding the number of NFC payments. As noted by Mastercard, the share of payments with smartphones and NFC devices ...

The yield on deposits in Ukraine is growing, and lending is recovering.

The yield on deposits in Ukraine is growing, and lending is recovering. In the second quarter, due to the NBU’s measures, banks will continue to increase interest rates on time deposits. According to the bank, on average, the return on a three-month individual depos...

Monday, August 14

The National Bank is easing currency restrictions in Ukraine.

The National Bank is easing currency restrictions in Ukraine. The NBU introduced additional measures to prevent unproductive outflow of capital from Ukraine and ensure the foreign exchange market’s stability. Thus, from August 12, 2023, the NBU will introd...

Tuesday, August 8

The key policy rate in Ukraine will decrease to 18%.

The key policy rate in Ukraine will decrease to 18%. Seven members of the Monetary Policy Committee of the National Bank expect a reduction in the discount rate to 18%-19% at the end of 2023. They are convinced that considering the expected decrease in ...

Interest rates on deposits in the national currency are rising in Ukraine.

Interest rates on deposits in the national currency are rising in Ukraine. In June, after the NBU announced the possibility of lowering the key policy rate, rates on retail deposits of various maturities continued to grow. The weighted average rate on new consumer deposits i...

Tuesday, August 1

In July, the Ministry of Finance collected $5.3B in revenue.

In July, the Ministry of Finance collected $5.3B in revenue. Since the beginning of the year, the Ministry of Finance has gathered more than $28B for the budget, and in July alone, $5.3B. Grant funds compose about 25% of the total financial assistance. Among th...

Friday, July 28

The National Bank cuts the key policy rate to 22%.

The National Bank cuts the key policy rate to 22%. The Board of the National Bank of Ukraine has cut the key policy rate from 25% to 22%, effective 28 July, 2023. Rapid disinflation and sustained stability in FX market conditions has enabled the centr...

Thursday, July 27

Ukrainian banks plan to ease lending for businesses and the public.

Ukrainian banks plan to ease lending for businesses and the public. In the third quarter of this year, banks plan to ease lending conditions for small and medium-sized businesses, reported the National Bank of Ukraine. The central bank made this decision in response t...

The EBRD expands cooperation with Ukraine’s KredoBank.

The EBRD expands cooperation with Ukraine’s KredoBank. The EBRD is supporting food security and other critical industries in wartime Ukraine with a new risk-sharing agreement for KredoBank and opening a TFP limit for guarantees and cash advances to enhanc...

Monday, July 24

The number of loans taken out with state guarantees doubled in June.

The number of loans taken out with state guarantees doubled in June. In June, banks issued 2,116 loans under the state guarantee program on a portfolio basis, which is over 100%, or 1,129 loans, more than in May, reported the Ministry of Finance. The volume of issued l...

Wednesday, July 19

The National Bank says that currency restrictions are losing their effectiveness and restraining economic activity.

The National Bank says that currency restrictions are losing their effectiveness and restraining economic activity. According to Volodymyr Lepushynskyi, director of the Department of Monetary Policy of the NBU, the disadvantages of this mechanism has begun to exceed the advantages. He added that fixing the exchange...

Tuesday, July 18

Ukraine’s Eurobonds value reached their maximum since the beginning of the war.

Ukraine’s Eurobonds value reached their maximum since the beginning of the war. The value of the Eurobonds of Ukraine jumped by an average of 13% last week and reached the maximum values since the beginning of the full-scale war. According to Western analysts, the quotations of d...

Monday, July 17

Ukrainian banks break five-year profitability records.

Ukrainian banks break five-year profitability records. During the first five months of the year Ukrainian banks earned UAH 53.59B, 120% more than the corresponding period in 2021, according to Opendatabot. It is noted that this is the best result in at le...

Friday, June 30

The NBU approves a strategy for easing FX restrictions and will transition to more exchange rate flexibility.

The NBU approves a strategy for easing FX restrictions and will transition to more exchange rate flexibility. “The strategy consists of three main components. These are the easing of currency restrictions, the transition to greater flexibility of the exchange rate, and the return to the principles of inflatio...

Monday, June 26

Ukrainian banks noticed a UAH 1.4B increase in consumer deposits last month.

Ukrainian banks noticed a UAH 1.4B increase in consumer deposits last month. The total amount of May deposits by individuals in Ukrainian banks increased by UAH 1.4B and, as of June 1, amounted to UAH 1.0687T, reported the press service of the Guarantee Fund. It is noted that ...

Friday, June 16

Ukraine has eased currency restrictions to allow businesses to pay foreign loans.

Ukraine has eased currency restrictions to allow businesses to pay foreign loans. In particular, the National Bank allowed resident borrowers to transfer funds abroad to repay certain categories of external credits and loans. The NBU also determined that residents can carry out sim...

The NBU leaves its key policy rate unchanged at 25%.

The NBU leaves its key policy rate unchanged at 25%. Since June of last year, it has remained at 25% per annum. The National Bank believes that this decision will support the attractiveness of hryvnia instruments, contribute to the foreign exchange mark...

Friday, June 9

Ukraine has not printed money for budgetary needs for the last six months.

Ukraine has not printed money for budgetary needs for the last six months. According to the head of the NBU, Andriy Pishnyi, since the beginning of 2023 the government was able to avoid this practice because it has been able to attract 50% more funds through the domestic deb...

Friday, June 2

Bankers positively assess the further development of Ukraine’s financial sector, but corruption has returned as a main risk.

Bankers positively assess the further development of Ukraine’s financial sector, but corruption has returned as a main risk. A majority of the top managers of banks and non-bank financial institutions surveyed by the NBU reported an improvement in the state of the financial sector over the last six months, with 57% against ...

Monday, October 25

Two bills were signed on NBU independence by Verkhovna Rada Chairman Ruslan Stefanchuk. The first Bill No. 5853. The Budget Code of Ukraine to clarify the information provided by the National Bank of Ukraine (NBU) for the preparation of the B...

Monday, December 14

Ukraine’s offering of dollar Eurobonds was three times oversubscribed Friday,

Ukraine’s offering of dollar Eurobonds was three times oversubscribed Friday, Ukraine’s offering of dollar Eurobonds was three times oversubscribed Friday, causing the Finance Ministry to raise the final volume by 20%, to $600 million, and to push the rate down to 6.2%, one ful...

Tomorrow’s auction of government hryvnia bonds should draw more foreign buyers, analysts predict

Tomorrow’s auction of government hryvnia bonds should draw more foreign buyers, analysts predict Tomorrow’s auction of government hryvnia bonds should draw more foreign buyers, analysts predict. Last week saw an uptick of foreign buying — $79 million – breaking a fall in foreign holdings si...

The World Bank approved Friday night a $300 million loan to help “prevent

The World Bank approved Friday night a $300 million loan to help “prevent The World Bank approved Friday night a $300 million loan to help “prevent around 1 million Ukrainians from falling into poverty due to the COVID-19 pandemic,” the Bank’s Board of Executive Directors r...

The EBRD’s new loans to Ukraine projects will hit €750-850 million this year,

The EBRD’s new loans to Ukraine projects will hit €750-850 million this year, The EBRD’s new loans to Ukraine projects will hit €750-850 million this year, a ‘big increase’ over the average of the last four years, Matteo Patrone, EBRD managing director for Eastern Europe and th...

Ukraine is to receive $250 million in US military aid under a defense spending bill approved Friday by the U.S. Senate in a 84-13 vote.

Ukraine is to receive $250 million in US military aid under a defense spending bill approved Friday by the U.S. Senate in a 84-13 vote. Ukraine is to receive $250 million in US military aid under a defense spending bill approved Friday by the U.S. Senate in a 84-13 vote. Earlier in the week, the House of Representatives approved the b...

Ukraine plans to transfer all of the nation’s seaports to concessions or private ownership by 2025

Ukraine plans to transfer all of the nation’s seaports to concessions or private ownership by 2025 Ukraine plans to transfer all of the nation’s seaports to concessions or private ownership by 2025, Infrastructure Minister Vladyslav Krikliy told an online international investment conference Friday....

By 2022, the government plans to reach concession agreements for highways, airports, rail stations and other infrastructure facilities

By 2022, the government plans to reach concession agreements for highways, airports, rail stations and other infrastructure facilities By 2022, the government plans to reach concession agreements for highways, airports, rail stations and other infrastructure facilities, Prime Minister Shmygal said at the conference, which was organiz...

In the first half of next year, the State Property Fund plans to start the privatization of the United Mining and Chemical Company, the First Kyiv Machine-Building Plant (formerly Bolshevik), and stakes in six regional power companies,

In the first half of next year, the State Property Fund plans to start the privatization of the United Mining and Chemical Company, the First Kyiv Machine-Building Plant (formerly Bolshevik), and stakes in six regional power companies, In the first half of next year, the State Property Fund plans to start the privatization of the United Mining and Chemical Company, the First Kyiv Machine-Building Plant (formerly Bolshevik), and stak...

Ukraine will receive – free of charge — enough Covid-19 vaccines to vaccination 4 million people this spring

Ukraine will receive – free of charge — enough Covid-19 vaccines to vaccination 4 million people this spring Ukraine will receive – free of charge — enough Covid-19 vaccines to vaccination 4 million people this spring, Ukraine’s Chief Sanitary Doctor Viktor Liashko wrote Saturday on Facebook. In additi...

Coronavirus hospitalizations jumped 25% in November, over October

Coronavirus hospitalizations jumped 25% in November, over October Coronavirus hospitalizations jumped 25% in November, over October, to 63,958 cases, reports Ukraine’s National Health Service. On Friday, deaths hit a record level — 285. New cases reported are ...

Due to Thursday afternoon’s ice storm, flights in and out of Kyiv’s two airports were disrupted through noon on Friday.

Due to Thursday afternoon’s ice storm, flights in and out of Kyiv’s two airports were disrupted through noon on Friday. Due to Thursday afternoon’s ice storm, flights in and out of Kyiv’s two airports were disrupted through noon on Friday. With Kyiv Sikorsky closed for several hours, Wizz Air cancelled two flights to G...

Friday, December 11

Starting March 28, UIA promises to gradually, but “completely restore” its international route network

Starting March 28, UIA promises to gradually, but “completely restore” its international route network Starting March 28, UIA promises to gradually, but “completely restore” its international route network, the airline says in a note posted on its siteyesterday. Ukraine’s flag carrier plans to restore ...

Windrose Airlines has applied to the US Department of Transportation to fly passengers and cargo between Ukraine and New York

Windrose Airlines has applied to the US Department of Transportation to fly passengers and cargo between Ukraine and New York Windrose Airlines has applied to the US Department of Transportation to fly passengers and cargo between Ukraine and New York, reports the US-based aviation news site, One Mile at a Time. The airline,...

Passenger traffic at Kyiv Sikorsky through November totalled 670,900 passengers – 18% of the level of the first 11 months of last year

Passenger traffic at Kyiv Sikorsky through November totalled 670,900 passengers – 18% of the level of the first 11 months of last year Passenger traffic at Kyiv Sikorsky through November totalled 670,900 passengers – 18% of the level of the first 11 months of last year. In November, Kyiv’s right bank airport handled only 13% th...

With its East-West gas pipelines, Ukraine would like to become a major supplier of hydrogen to Germany

With its East-West gas pipelines, Ukraine would like to become a major supplier of hydrogen to Germany With its East-West gas pipelines, Ukraine would like to become a major supplier of hydrogen to Germany, Prime Minister Denys Shmyhal said Tuesday at the first German-Ukrainian Energy Day. “The develop...

Anka Feldhusen, Germany’s ambassador and host of the event, cautioned that Ukraine should first pay its $1 billion debt to wind and solar producers.

Anka Feldhusen, Germany’s ambassador and host of the event, cautioned that Ukraine should first pay its $1 billion debt to wind and solar producers. Anka Feldhusen, Germany’s ambassador and host of the event, cautioned that Ukraine should first pay its $1 billion debt to wind and solar producers. One of 11 ambassadors to send a letter last month t...

In Ukraine, DTEK is the pioneer in the hydrogen energy field, becoming Ukraine’s first company to join Hydrogen Europe

In Ukraine, DTEK is the pioneer in the hydrogen energy field, becoming Ukraine’s first company to join Hydrogen Europe In Ukraine, DTEK is the pioneer in the hydrogen energy field, becoming Ukraine’s first company to join Hydrogen Europe, an association where European leaders exchange strategies and forge partnerships...

Follow us