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
Inflation in Ukraine continues its retreat. In April 2023, consumer inflation in Ukraine decreased to 17.9% in annual terms. According to the NBU’s estimates, the slowdown in price growth continued in May as well, according to the June Ma... #InflationinUkraine #nbu #UkraineEconomy
The growing labor shortage in Ukraine has stopped the fall in wages. As of June 2023, the real wages of Ukrainians in the private sector have stopped decreasing due to increased competition for employees. According to the June Macroeconomic and Monetary Review from the... #JobInUkraine #LaborMarket #nbu #SalaryUkraine #UkraineJobmarket
Ukraine’s international reserves have increased to an 11-year high. They currently stand at $37.3B, the highest figure since August 2011. The National Bank explained that the reserves grew due to steady inflows from Ukraine’s international partners, which exceeded the... #CurrencySale #financialaidforUkraine #nbu #UkraineInternationalReservs
The NBU continues to increase the sale of foreign currency, and Ukrainians are buying fewer dollars. The net sale of dollars by the National Bank from May 29 to June 2 rose to $457.02M. According to the regulator, the bank bought only $11.93M last week and sold $468.95M. In May, the central bank incr... #currencyexchange #CurrencySale #foreigncurrency #nbu
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 ... #BusinessExpectation #financeUkraine #FinancialSectorUkraine #nbu #UkrainianBanking
The NBU says that interest rates on deposits will continue to rise. The head of the National Bank of Ukraine, Andriy Pyshnyi, announced this forecast, noting that the projected discount rate will be higher than the current level of banks’ deposit rates for a lon... #AndriiPyshnyi #DepositsInterestRate #nbu #UkraineDeposits
The NBU will discuss easing currency restrictions with the IMF. On May 23, the IMF mission began preparations for the first review of the EFF program with Ukraine. The National Bank said that during negotiations special attention will be paid to the gradual easing... #CurrencyRestrictions #EFFprogram #IMFprogramm #nbu
The Central Bank of Ukraine has presented a new strategy to maintain financial stability. The NBU has developed a new institutional strategy, Financial Fortress of Ukraine, which considers the influencing factors of the Russian invasion on the functioning of the financial system and is foc... #FinancialStabilityUkraine #nbu #UkraineFinancials
The yield on deposits is growing, and loan rates have stabilized. Ukrainian banks continue to compete for clients’ funds, raising deposit rates for both individuals and businesses, the NBU Banking Sector Survey notes. On average, the value of 12-month deposits... #BankDepositsinUkraine #BankLoans #nbu #UkrainianBanks
The Ukrainian government will ease restrictions for businesses. According to EBA, the NBU currently understands that currency restrictions are gradually exhausting their function, and the macroeconomic situation in the country is stabilizing. Because of this, the ... #CurrencyLiberalization #EBA #nbu #ReformsinUkraine #RestrictionsForBusinesses
The NBU is considering the reduction of the key policy rate due to improved FX market conditions. The noticeable improvement of the foreign exchange market has been caused not only by the seasonal increase in the supply of currency by farmers and the decrease in demand for energy imports but also ... #DiscountRateUkraine #foreignexchangemarket #KeyPolicyRate #nbu
Export prices for Ukrainian goods will decrease due to the global increase in inventories. According to NBU estimates, supplies will reach their pre-pandemic level in 2025, that is, at the end of the planning horizon. By the third quarter of 2025, the National Bank predicts a steady decline... #grainexport #nbu #UkraineExport #UkrainianMetalExport
Ukraine’s international reserves have grown to 11-year high. In April, Ukraine’s reserves increased by 12.8%, or $4B, to $35.9B, according to the NBU. The regulator explained that reserves increased due to aid received from international partners, a further dec... #financialaidforUkraine #nbu #UkraineInternationalReservs
Problem loans are accumulating in Ukrainian banks. As of April 1, the share of non-performing loans in bank portfolios was 38.8% and increased by 0.7% during the last quarter. The volume of problem loans amounted to UAH 434B and increased by UAH 2B in... #LoanPortfolio #nbu #NPLukraine #Problemloans
