Analysts comment on the price trends in the Ukrainian consumer market. Prices for food products and non-alcoholic beverages in August 2023 decreased by 3.7% compared to July, the Center for Economic Strategy reported. Vegetables and fruits fell in price the most (by 4.2%... #InflationinUkraine #nbu #pricesinUkraine #TarasVysotskyi
The flow of private funds to Ukraine is decreasing. The volume of private remittances decreased by 5.8% in July and amounted to $939M, National Bank data shows. In particular, wages from Ukrainians abroad increased by 2.9%, while other private transfer... #MoneyTransfers #nbu #PrivateFunds
Ukraine’s economy grew by 8% in August. The growth of Ukraine’s real GDP in August remained close to 8% compared to August 2022, but the GDP was more than 20% lower than 2021’s level, the Institute of Economic Research (IER) rep... #GDPinUkraine #InflationinUkraine #internationalReserves #nbu #UkraineEconomy
The Ministry of Finance of Ukraine also “positively” revised its forecast for Ukraine’s GDP. According to 2023’s activity, Ukraine’s GDP will grow by more than 3%, Minister of Finance Serhii Marchenko said. “The balance of payments has been adjusted thanks to external infusi... #EUEconomy #GDPinUkraine #nbu #SerhiyMarchenko #UkraineEconomy
Inflation in August fell to 10% for the first time since June 2021. According to the schedule published by the National Bank, inflation slowed to approximately 10% in August. The last time annual inflation in Ukraine was observed below 10% was in June 2021 (9.5%). In ... #FoodPriceUkraine #InflationinUkraine #nbu #UkraineEconomy
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... #financeUkraine #financialaidforUkraine #foreignexchangemarket #internationalReserves #nbu
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... #Bonds #financeUkraine #nbu #OVDPselling #ukrainebonds
The Ukrainian economy is recovering faster than the NBU forecast. The absence of power outages and the further improvement of supply routes, including through the western borders, all have contributed to the Ukrainian economy’s growth, the National Bank of Ukr... #GDPinUkraine #nbu #UkraineEconomy
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... #CurrencyRestrictions #financeUkraine #nbu
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... #Depositrates #financeUkraine #nbu
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.... #financeUkraine #internationalReserves #nbu #NBUassets
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 ... #DigitalizationOfUkraine #financeUkraine #mastercard #nbu #NFCpayments
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... #CreditPortfolio #DepositsinUkraineBanks #financeUkraine #LendingInUkraine #nbu
What consumer prices and dollar exchange rates do Ukrainians expect? According to the NBU, both financial analysts and the public expect a slowing trend to the growth of consumer prices. Financial analysts in July predicted that inflation would be 12% over the next 12 ... #currencyexchange #dollarexchangerate #Hryvnia #InflationinUkraine #nbu
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... #CurrencyRestrictions #financeUkraine #nbu
During the first half of the year, Ukrainian banks generated record profits. The National Bank of Ukraine reported that banking organizations earned UAH 67.6B ($1.85B) in six months, the National Bank of Ukraine reported. Net operating profit before deductions to reserves incr... #nbu #UkraineBanksProfits #UkrainianBanks
The National Bank expects the state budget deficit to grow next year. In July, the regulator lowered its forecast for this indicator to 16.8% of GDP. Thus, considering grants, it is predicted that the consolidated budget deficit will reach UAH 1.28T. In the April report... #GDPinUkraine #nbu #UkraineBudget #UkraineBudgetDeficit #UkraineEconomy
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 ... #financeUkraine #KeyPolicyRate #nbu
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... #DepositsInterestRate #financeUkraine #HryvniaDeposits #nbu
The NBU predicts a slight increase in oil prices in the second half of the year, against the background of the global economy’s upturn, particularly in China. In the rest of the year, prices will be under downward pressure due to the active production increase in the US and ... #gasprices #GlobalOilPrices #nbu
The NBU expects Ukraine’s GDP to grow by 2.9% this year and notes the positive impact of military aid to Ukraine on the economy of Western countries. As noted in the July National Bank Inflation Report, economic growth will accelerate in the coming years, considering the National Bank’s assumption that security risks will decrease in mid-2024... #GDPinUkraine #InflationinUkraine #nbu #UkraineEconomy
The demand for labor is recovering in Ukraine, and wages are increasing. According to the National Bank, the situation in the labor market remains challenging: The unemployment rate decreased slightly during the first half of the year but remained high. The dynamics of lab... #nbu #SalaryUkraine #UkraineLaborMarket #UnemploymentUkraine
Ukraine expects at least $37B in international aid in 2024. In 2023, Ukraine expects $42B in international assistance, and next year it expects at least $37B, said the head of the NBU, Andriy Pishnyi, during an interview for ICTV. He says Ukraine’s budge... #AndriyPishnyi #financialaidforUkraine #nbu #UkraineBudget #UkraineBudgetRevenue
The volume bad loans decreased by UAH 7B in the year’s first half. The amount of non-performing loans (NPL) in the banking sector as of July 1, 2023, was UAH 425B, which is UAH 7B lower than the figure on January 1, reported the National Bank. At the same time, the s... #BankLoans #LoansUkraine #nbu #NPL
Business expectations worsened in July across all sectors. The business activity expectation index, calculated by the National Bank (NBU) in July, fell by two points to 48.8 on a scale from zero to 100 after three months of being on the positive side of the s... #BusinessExpectation #nbu #UkraineBusinessActivity #UkraineEconomy
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... #CurrencyRestrictions #financeUkraine #InflationinUkraine #KeyPolicyRate #nbu
The NBU improves its GDP forecast for this year but lowered it for 2024. The national bank expects the Ukrainian economy to grow by 2.9% this year compared to the previous forecast of 2%. The further recovery of Ukraine’s economic activity will be facilitated by the ... #GDPinUkraine #nbu #UkraineEconomicActivity #UkraineEconomy
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... #financeUkraine #LendingInUkraine #LoansUkraine #nbu
The NBU might allow a flexible exchange rate for the dollar even before the end of the war. According to the Deputy Chairman of the National Bank, Serhii Nikolaychuk, last week the strategy of softening currency restrictions, a transition to a flexible exchange rate, and a return to inflatio... #CurrencyRestrictions #hryvniaexchangerate #nbu #SerhiiNikolaychuk
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... #CurrencyRestrictions #financeUkraine #nbu
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... #financeUkraine #nbu #PrivatBank #UkraineBanksProfits #UkrainianBanks
The NBU explained why inflation in Ukraine is falling rapidly and what risks can change the trend. In June, consumer inflation in annual terms slowed to 12.8%. “The slowdown was caused by a greater supply of food and fuel, a decrease in world prices on commodity markets, and an improvement in... #InflationinUkraine #nbu #pricesinUkraine #UkraineEconomy
Inflation in Ukraine has fallen below 15%. The supply of food, the strengthening of the hryvnia on the cash foreign exchange market, and an improvement in expectations have all contributed to the slowing of the inflation rate. According to the... #InflationinUkraine #nbu #pricesinUkraine
Demand for labor in Ukraine stimulates wage growth. In the July Macroeconomic and Monetary Review by the National Bank of Ukraine, an increase in employment vacancies indicates an increase in the demand for labor. This is partly due to a seasonal pick-... #JobInUkraine #nbu #SalaryUkraine #UkraineLaborMarket
Business activity results are positive for the third consecutive month. After adapting to the difficult conditions of a full-scale war, Ukrainian business has given positive evaluations of their activities’ results for the third month in a row, according the Busines... #BusinessduringWar #nbu #UkraineBusinessActivity #UkraineEconomy
Ukrainians must insert a phone number to replenish their debit cards with cash. Starting August 1, cash deposits through ATM terminals require the payer to enter a mobile phone number. Such norms are stipulated by the resolutions of the board of the National Bank, On Amendments t... #CreditCardsUse #nbu #UkraineCreditCards #UkraineDebitCards
The volume of non-performing loans in banks decreased by UAH 7B. The share of non-performing loans (NPL) in the banking sector fell to 39.1% on June 1 compared to 39.3% at the beginning of May, reported the press service of National Bank. In May, the volume of non-... #BankLoans #CreditPortfolio #LoansUkraine #nbu #NPLukraine
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... #financeUkraine #nbu #NBUstrategy #UkraineEconomicStrategy
Half of the loans for green energy are non-performing. The green energy crisis is causing losses for banks – the share of non-performing loans in the industry rose to 51% at the beginning of May, compared to less than 3% before the invasion says a F... #GreenEnergyLoans #GreenEnergyUkraine #LoanPortfolio #nbu #NPLukraine
The NBU revises its forecast for credit losses from 30% to 20% due to the war. According to National Bank, this year, banks have sharply reduced the formation of reserves after showing significant losses from credit risk last year. Since the war began, banks have suffered losses... #CreditRisk #LoanPortfolio #LoansUkraine #nbu #NPLukraine
Ukraine’s residential real estate market is in a deep crisis, it is much more profitable to rent than to buy. The residential real estate market in Ukraine remains in a deep crisis, market factors do not support the prices declared by sellers, and renting has become a much more profitable option for those who... #HousingInUkraine #nbu #RentalHousing #UkraineRealestate
The National Bank of Ukraine is considering reducing the key policy rate. According to the Monetary Policy Committee, the discount rate will decrease by 1-2% starting in July or September. As the National Bank’s press service reports, three Committee members saw room... #DepositsInterestRate #HryvniaDeposits #KeyPolicyRate #nbu
Termination of the grain corridor will put pressure on the hryvnia. “Implementing the termination of the grain corridor will have negative consequences for Ukrainian exports with a corresponding decrease in foreign currency inflows to the country and a possible increa... #agroexportukraine #agroUkraine #GrainAgreement #GrainCorridors #hryvniaexchangerate #nbu
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 ... #BankDepositsinUkraine #financeUkraine #HryvniaDeposits #nbu #UkraineBankingSystem
In one week, the National Bank sold almost $436M of reserves on the interbank market. During the week from June 19 to 23, the NBU sold $435.82M and bought $8.29M on the interbank foreign exchange market, reported the bank. Last week, the NBU sold $446.76M, and a week earlier, only $292... #CurrencyMarket #CurrencySale #nbu #NBUInternationalReserves
The National Bank of Ukraine predicts an inflation slowdown in the coming months. In May, annualized consumer inflation slowed to 15.3% from 17.9% in April. In the future, price growth will not slow down as quickly, the NBU warns. It is expected that inflation will continue to slow... #InflationinUkraine #KakhovkaHPP #nbu #pricesinUkraine #UkraineEconomy
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... #CurrencyRestrictions #financeUkraine #foreignloans #nbu #UkraineEconomy
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... #financeUkraine #foreignexchangemarket #KeyPolicyRate #nbu
Interest rates on deposits in Ukraine are increasing. In May, bank’s average interest rates on new hryvnia consumer deposits grew to 11.9% per annum from a month-earlier rate of 11.6%. According to the National Bank, rates for new deposits for the public... #BankDepositsinUkraine #DepositsInterestRate #nbu
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... #AndriyPishnyi #financeUkraine #Hryvnia #nbu #NBUprintedMoney
