The financial stress index in Ukraine is high but stable, so the NBU predicts a further decrease in the key rate. The financial stress index, which measures the level of current threats in the sector, is at a high but stable level, the NBU said, presenting a report on financial stability. The report notes that al... #financeUkraine #KeyPolicyRate #nbu #UkraineBusinessExpectation
The NBU obeserves recovery in the Ukrainian real estate market; companies are building and commissioning new housing. The real estate market is slowly recovering – demand is picking up, primarily in the secondary market. At the same time, the demand for rental properties has increased, and the volume of subsidi... #DIMgroup #HousingConstruction #MortgagesUkraine #nbu #RealEstateUkraine
The IMF insists on increasing bank lending to hasten Ukraine’s recovery. In Ukraine, the level of bank lending is low, which is a significant obstacle to the recovery of the country, according to former member of the NBU Council, Bohdan Danylyshyn. Danylyshyn states that, ... #BankLoans #BohdanDanylyshyn #financeUkraine #imf #LendingInUkraine #nbu
Banks have broken a mortgage record since the beginning of the war. Ukrainian banks issued 826 mortgage loans worth ₴1.3 billion in October, 1.6% more by the number of loans and 6.8% more in amount than in September, according to a monthly survey of banks. “The ... #eOselya #MortgageProgram #MortgagesUkraine #nbu
Following a slowdown in inflation, the NBU lowered the key rate for the fourth time in a row. The National Bank of Ukraine decided to reduce the discount rate from 16% to 15% per annum starting December 15, 2023. The NBU continued its pattern of lowering the discount rate, which began in July,... #AndriiPyshnyi #financeUkraine #InflationinUkraine #KeyPolicyRate #nbu
Ukraine strives to solve its financing problems, but there are risks. Kyiv plans to cover its budget deficit primarily through more than $40B in external financing next year. At the same time, more than two-thirds of this amount has not yet been confirmed. Therefore, Uk... #CurrencyRestrictions #financeUkraine #nbu #UkraineBudget #UkraineBudgetDeficit
Ukraine will fully settle with the IMF under the 2018 stand-by program. Ukraine will fully repay the IMF under the 2018 stand-by program, which amounts to $166M at the current exchange rate, said Economist Oleksiy Blinov. According to him, the payment will be provided fro... #imf #nbu #OleksiyBlinov #ukrainedebt #UkraineLoans
Ukraine’s economy is recovering faster than forecast, but how will it do in the next two years? The rate of recovery of the Ukrainian economy in 2023 exceeded initial forecasts, and the locomotive of positive change was the ability of Ukrainian businesses to adapt to the challenging conditions o... #GDPinUkraine #InflationinUkraine #nbu #UkraineEconomicForecast #UkraineEconomy
Bankers share their forecast for deposit rates through the end of the year. By the end of the year, average rates on hryvnia deposits, depending on the term of the deposits, will remain at 14-14.5% per annum, predicts Globus Bank. It is noted that the average return on deposi... #DepositsInterestRate #financeUkraine #GlobusBank #nbu #UkraineDeposits
Revenues from the sale of bonds by the Ministry of Finance in November exceeded payments by more than ₴24B. For 11 months of the year, borrowing by the Ministry of Finance on the domestic debt market of ₴164.98B in equivalent exceeded payments on bonds of the domestic state loan (OVDP), particularly in Nove... #financeUkraine #nbu #OVDPselling #UkraineBond
In November, the NBU reduced interventions by 27% and canceled all restrictions on the sale of cash currency. The net sale of dollars by the National Bank in November, the second month after the transition from a fixed exchange rate regime to managed flexibility, decreased from $3.34B in October to $2.45B in ... #CurrencyMarket #CurrencyRestrictions #CurrencySale #financeUkraine #nbu
Economic damage from the Polish-Ukrainian border blockade may reach $400M. The interruption of the supply of Ukrainian goods by truck through Poland will affect both the export and import of goods to Ukraine. According to preliminary calculations by the National Bank, in 202... #BorderBlockade #nbu #UkraineEconomy #UkraineForeignTrade #UkrainePolandCheckpoints
Bank profit tax increased to 50% in 2023 and 25% in subsequent years. The Ukrainian Parliament adopted a draft law on a temporary increase in the bank tax rate from an 18% to 50% tax on profits in 2023 and a permanent increase to 25% in the following years. The draft la... #financeUkraine #nbu #TaxesinUkraine #UkraineBanksProfits #UkrainianBanks
The war destroyed foreign currency lending in Ukraine. The Russian full-scale invasion has practically destroyed the demand for foreign currency loans, contributing to the reorientation to lending in the national currency, which is a good indicator for th... #BankLoans #CreditPortfolio #financeUkraine #nbu
This year, the tax on bank’s excess profits may be increased to 50%. The Ministry of Finance will initiate changes to the draft law that was passed in the first reading regarding the taxation of excess bank profits for additional revenues for the state budget next year... #financeUkraine #nbu #TaxesUkraine #UkraineBanksProfits #UkrainianBanks
The government will pay the NBU more than ₴120B for printing the hryvnia last year. According to the National Bank’s calculations, in 2023 the total amount it will receive from the Ministry of Finance for government bonds (OVDP) in its portfolio will amount to ₴120.75B, analysts writ... #BondUkraine #financeUkraine #HryvniaEmission #nbu #OVDPselling
IMF loans have turned out to be the most expensive for Ukraine. As of October 2023, the average cost of servicing all loans granted to Ukraine by external official creditors is about 2.1% per annum, said former NBU executive Bohdan Danylyshyn. According to him, IM... #BohdanDanylyshyn #imf #IMFloans #LoansForUkraine #nbu
The National Bank explained why prices fell in October. The regulator noted that inflation has continued to slow down, primarily due to further growth in the food supply and the preservation of stability in the foreign exchange market. Thus, in October con... #InflationinUkraine #nbu #pricesinUkraine #UkraineEconomy
The NBU is studying the use of central banks’ retail digital currencies. The National Bank of Ukraine is exploring the possibility of using retail digital currencies from central banks, or CBDCs, for cross-border operations, the NBU said. As the central bank explained, who... #CBDC #digitalcurrency #DigitalCurrencyUkraine #E_hryvnia #nbu
Hryvnia deposit profits will change in Ukraine. In November, Ukrainians can expect a drop in interest rates on hryvnia deposits. Interest will be 14-14.5% on average, but the return on deposits may rise to 6-7%, the experts say. This month, the mai... #BankDepositsinUkraine #financeUkraine #HryvniaDeposits #nbu
Ukraine’s international reserves decreased for the third month in a row. In October, they fell by 1.9% to $38.97B, NBU data shows. The bank explains that the dynamics last month were caused by the NBU’s interventions and the country’s debt payments in foreign c... #CurrencyMarket #financeUkraine #NationalBankReserves #nbu #UkraineInternationalReservs
The NBU plans to lower the key policy rate to 15% in December. A majority among members of the NBU’s Monetary Policy Committee expect the discount rate to decrease by one percentage point to 15% in December, the NBU reported. Accordingly, adjustments to other NBU... #financeUkraine #KeyPolicyRate #nbu
By the end of the year, Ukraine needs to attract more than $9B in international aid, which will decrease in 2024-2025. The amount of international financial aid that Ukraine has received this year will exceed $45B, but in the next two years it will gradually decrease to $38.5B and $25B, respectively, the NBU predicts.... #financialaidforUkraine #imf #nbu #SupportUkraine #UkraineBudget
The IMF has started reviewing the EFF program with Ukraine. On November 6, the IMF mission began discussing the second review of the extended financing program with Ukrainian authorities, said IMF Resident Representative to Ukraine, Vahram Stepanyan. The NBU c... #AndriiPyshnyi #EFFprogram #imf #IMFprogramforUkraine #nbu #VahramStepanyan
Large harvests allow the NBU to improve its GDP forecast for this year. According to the Inflation Report for October, an estimate of real GDP growth is due to a better-than-expected harvest of major crops. The National Bank improved its real GDP growth estimate by the en... #GDPinUkraine #HarvestUkraine2023 #KakhovkaHPP #nbu #UkraineEconomy
The National Bank and the Ukrainian government have updated price forecasts in Ukraine. At the end of this year, consumer price growth will slow to 5.8% from 26.6% in 2022. The faster-than-expected inflation decrease is primarily the result of greater food supply following higher harvest... #InflationinUkraine #nbu #pricesinUkraine #UkraineEconomy
How will the Ukrainian income and employment situation change over the next two years? According to the NBU, unemployment will continue to decline but remain higher than pre-invasion levels. It is expected to decrease to almost 19% this year, to 16.5% next year, and below 15% in 2025. T... #nbu #SalaryUkraine #UkraineIncome #UnemploymentUkraine
Ukrainian business modestly assessed the results of its work in October. “Remaining significant security risks, destruction of production facilities, exporters’ logistical restrictions, narrowing of investment demand, growth of fuel prices, and shortage of qualified ... #BusinessActivityExpectations #nbu #UkraineBusinessActivity #бізнесвУкраїні
Liquidated Zlatobank is for sale with a starting price of more than ₴10B. The Deposit Guarantee Fund liquidated Zlatobank and will sell its assets at auction on November 15 in the Prozorro.Sales system. The initial price for the bank’s assets is almost ₴10.6B ($290M). The l... #nbu #PrivatizationUkraine #ProzorroAuction #Prozorrosales #Zlatobank
The NBU has lowered the key policy rate to 16% per annum. The Board of the National Bank has decided to reduce the discount rate from 20% to 16% per annum starting October 27. By doing this the National Bank will make it equal to the rate on overnight certif... #financeUkraine #InterestRate #KeyPolicyRate #nbu
The Ministry of Finance has attracted almost ₴23B from the sale of OVDP bonds. On October 24, the Ministry of Finance placed domestic state loan bonds (OVDP) for the total amount of ₴22.91B, significantly reducing the rates for securities denominated in hryvnia. The state receiv... #financeUkraine #KeyPolicyRate #nbu #OVDPselling #UkraineBond
Banks forecast a decrease in deposit rates, but Ukrainians keep increasing their balances. Most financial institutions expect a decrease in the amount of deposited funds in the fourth quarter of 2023, according to the survey by the NBU. Instead, third quarter data shows an increase in house... #BankDepositsinUkraine #DepositGuaranteeFund #financeUkraine #nbu
Demand for loans is recovering in Ukraine. In the third quarter, banks recorded increased demand for commercial and individual hryvnia loans, the NBU reports. Most banks expect further commercial and retail loan portfolio growth in the next 12... #BankLoans #CreditPortfolio #financeUkraine #nbu
Bankers lower their expectations for the hryvnia to dollar exchange rate for the next year. Bankers, financial analysts, business managers, and private individuals predict that the exchange rate will be close to ₴40/$1 or higher in the next 12 months, reported the NBU. In October 2023, finan... #dollarexchangerate #financeUkraine #Hryvnia #nbu #SerhiiNikolaychuk
Ukrainians hold more than $100B in cash. The total amount of cash savings belonging to consumers and businesses in foreign currency outside banks in Ukraine is $116B, NBU Council member Bohdan Danylyshyn said. “Households and businesse... #AssetsOfUkrainians #CashCurrency #financeUkraine #nbu #ukraineassets
The mortgage lending market has picked up in Ukraine. In August, Ukrainian banking institutions issued 626 mortgage loans for a total amount of ₴900.9M, the NBU reported. In August, the volume of loans granted to consumers increased by 2.6% compared to J... #eOselya #MortgageProgram #MortgagesUkraine #nbu
Inflation in Ukraine fell to 7%, and Ukrainians’ income increased. Consumer inflation in Ukraine slowed to 8.6% in August thanks to a larger than expected supply of new-harvest vegetables and fruits. According to the NBU’s estimates, the slowdown in inflation w... #InflationinUkraine #nbu #pricesinUkraine #UkraineEconomy #UkraineIncome
The NBU will revise its 2023 forecasts for GDP and inflation toward improvement. As the Deputy Chairman of the NBU, Serhii Nikolaychuk, noted, the situation in the agricultural sector has contributed to the positive changes. “In recent months, inflation has been falling more... #GDPinUkraine #InflationinUkraine #nbu #SerhiiNikolaychuk #UkraineEconomy
This year, the sale of state debt securities replenished the budget with ₴400B. In the nine full months of the year, the Ukrainian government raised almost ₴400B ($11B) in equivalent from the placement of OVDP bonds at auctions. In total, more than ₴650B has been raised during ma... #financeUkraine #MilitaryBond #nbu #UkraineBond #UkraineBudget
Inflation in war-torn Ukraine is at a lower rate than in peaceful European countries. As stated in an Inflation Survey from the Ministry of Economy, domestic prices fell by 1.4% in August thanks to the arrival of the newly harvested crops on the market. This ensured the return of annua... #EUinflation #InflationinUkraine #nbu #pricesinUkraine
The NBU is introducing a flexible dollar exchange rate. As the National Bank explained, “The regulator will carefully monitor the situation in the foreign exchange market and remain a key player. To provide stability, the NBU will compensate for the ... #CurrencyMarket #dollarexchangerate #financeUkraine #Hryvnia #nbu
The profitability of consumer hryvnia deposits is falling due to a decrease in the discount rate. Since July 2023, the National Bank of Ukraine has reduced the discount rate twice in a row: from 25% to 22%, and then to 20%. Because of this, rates on hryvnia term deposits of individuals have begun ... #DepositsInterestRate #HryvniaDeposits #nbu #NBUinterestrate #OVDPselling
The NBU favors reducing the key policy rate to 18% by the end of the year. Nine out of 11 NBU Monetary Policy Committee members spoke in favor of lowering the discount rate to 20% in September. The majority of committee members decided that a moderate 2% discount rate reduct... #financeUkraine #KeyPolicyRate #nbu #UkraineEconomy
In the second quarter, Ukraine’s gross external debt increased to 92.7% of GDP. The amount of debt increased by $8.8B and, at the end of the half-year, amounted to $148.6B, the National Bank informs. In the second quarter, the public sector’s external debt increased to $84.... #financeUkraine #GDPinUkraine #nbu #ukrainedebt #UkraineEconomy
Ukraine will start selling military bonds abroad. According to the WSJ, Ukraine wants to sell military bonds to foreign individuals, mainly from Western Europe, as the government continues to seek ways to finance its military spending. According to a... #BondSalesUkraine #financeUkraine #nbu #ukrainebonds #UkraineEconomy
The Ukraine banking system continues to increase its liquidity and profitability. The highest results were shown by banks that preferred NBU certificates of deposit, the Standard-Rating Agency reports. In the first half of 2023, the quality of banks’ loan portfolios declined.... #nbu #NPL #PrivatBank #UkraineBankingSystem #UkraineBanksProfits
The NBU expects to attract an additional UAH 20B from an increased tax on bank profits. The regulator proposes to increase the bank profit tax rate from 18% to 38% for 2023-2024, NBU Chairman Andriy Pyshnyi said. According to him, this tax structure will have a limited impact on macro-fi... #AndriiPyshnyi #nbu #TaxesUkraine #UkraineBanksProfits #UkrainianBanks
The NBU has eased currency restrictions to improve the FX market’s operation. As National Bank reported, starting from 16 September 2023, when calculating the amount of cash foreign currency that can be sold in the FX market, a bank or a nonbank financial institution will take ... #currencyexchange #CurrencyRestrictions #CurrencySale #financeUkraine #nbu
The yield on deposits fell, and loans in the national currency became cheaper. The average rate in August for new consumer hryvnia deposits decreased to 12.2% per annum and for businesses to 13.4%, according to data from the National Bank. At the same time, the average interest ... #BankLoans #financeUkraine #LoanPortfolio #nbu #UkraineDeposits
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... #AndriiPyshnyi #financeUkraine #KeyPolicyRate #nbu
