The war has pushed over seven million Ukrainians below the poverty line. According to the World Bank, the poverty rate in Ukraine increased from 5.5% to 24.2% in 2022, as a result of which 7.1 million people are below the poverty line. It is noted that there is a big gap b... #InflationinUkraine #PovertyInUkraine #UkraineEconomy #UnemploymentUkraine
The Central Bank kept the prime rate at 25% and improved its economic forecast. The Board of the National Bank decided to keep the discount rate at 25% per annum, the Chairman of the Board of the NBU, Andriy Pishniy, said. The NBU noted that the updated macro forecast foresees th... #AndriyPishnyi #InflationinUkraine #nbu #UkraineEconomy
Ukrainian business giants will help their smaller counterparts to resume trade. Large Ukrainian companies have united to help restore domestic producers and sellers of goods affected by the war. These companies are OLX, lifecell, Webpromo, Visa, monobank, Ringostat, Nazovni, and ... #NAZOVNI #UkraineEconomy #UkraineTrade #ukrainianbusiness
Fitch still foresees a potential Ukrainian capital default. The international rating agency, Fitch Ratings, has quoted Kyiv’s long-term issuer default rating (IDR) in foreign currency at CC and the national currency at CCC-. According to the agency count... #FitchRatings #KyivCreditRatings #UkraineEconomy
Ukrainians are increasingly confident in the stability of the hryvnia and prices. In March 2023, the Consumer Sentiment Index in Ukraine increased by 4.6 points to 91.2 points, according to monthly research from InfoSapiens. The current situation’s index increased by 3.4 points and... #BusinessExpectation #hryvniaexchangerate #UkraineEconomy
Several Ukrainian businesses will participate in the Impact Business acceleration program. The Impact Business in-depth acceleration program aimed at the development of Ukrainian entrepreneurship, concentrated in the sectors of Ukraine’s economy most affected by the war, was launched in Ukr... #businessinukraine #ImpactBusiness #UkraineEconomy
In the new economic model, Ukraine will become a resource center of Europe. “The large-scale war created new challenges and work priorities, forcing us to rethink the role of the ‘Ukrainian architecture of reforms’ project,” noted Prime Minister of Ukraine Denys Shmyhal durin... #DenysShmyhal #ReformsinUkraine #UkraineEconomy
Domestic economists are convinced that Ukraine will keep playing catch up with economic growth through 2030. The Ukrainian economy reached its lowest point in April-May 2022 and has been showing a slow and steady recovery trend ever since. Ukraine’s GDP, which fell from $200B to $158B in the first year... #GDPinUkraine #UkraineEconomy #UkraineRecovery
Ukraine identifies the hardest hit sectors of the economy from the war. The State Statistics Service has published an estimate of Ukraine’s 2022 gross domestic product based on the production method. The data shows that the most significant drop is in construction at 67.6... #GDPinUkraine #UkraineEconomy
The surplus of food and fuel, the stabilization of the energy industry, and the cash market have curbed inflation in Ukraine. In March, annualized consumer inflation slowed to 21.3% from 24.9% in February. The National Bank says that the decrease in inflation is related to a significant supply of food and fuel, a better situ... #InflationinUkraine #pricesinUkraine #UkraineEconomy
The Ministry of Economy gives their final assessment of Ukraine’s 2022 GDP. In 2022, Ukraine’s economy suffered the most significant losses in its entire history of independence due to the Russian invasion that started on February 24. The GDP decrease is estimated at 29.2%, t... #GDPinUkraine #UkraineEconomy
Economic activity in Ukraine is recovering after Russian missile terror. Economic activity resumed in February-March after the end of last year’s energy terror provoked by the Russian Federation, said Deputy Chairman of the NBU, Serhiy Nikolaychuk. The improvement in busin... #SerhiiNikolaychuk #UkraineEconomicActivity #UkraineEconomy
The surplus of food and fuel, the de-occupation of some regions, and the stabilization of the energy system slowed inflation to 22% in March, according to the graph published in the NBU’s Macroeconomic and Monetary Review for April 2023. It is noted that the fundamental inflationary pressure also eased under improving expectations in the co... #InflationinUkraine #nbu #UkraineEconomy
The World Bank worsens its forecast for Ukrainian GDP. After falling by 29.2% last year, the bank believes that Ukraine’s GDP will grow by only 0.5% in 2023 and by 3.5% next year. In January, the World Bank expected faster growth in the Ukrainian ec... #GDPinUkraine #UkraineEconomy #worldbank
Inflation dynamics in Ukraine will depend on the war. According to the Inflation Review of the Ministry of Economy for February 2023, risks of a negative nature still remain high, and the situation might not change in the near future. The dependence on t... #InflationinUkraine #UkraineEconomy
Zelenskyy’s office believes the economy will recover two years after the war’s end. A return to pre-war levels is anticipated, noted presidential adviser on economic issues, Oleg Ustenko. According to him, Ukraine’s direct losses from Russian aggression are estimated at $750B and ov... #OlegUstenko #ReparationsForUkraine #UkraineEconomy
Last year, Ukraine’s economy suffered a decline in all industries. According to state statistics analyzed by the parliamentary committee on finance, the biggest drop was in construction, by 65.1%. Industrial production fell by 36.9%, the mining industry by 37.9%, the... #UkraineBusinessDuringWar #UkraineEconomy #UkrainianEnterprises
Ukraine’s GDP fall in February improves over January. February 2023’s decline in GDP was 26%, which is better than January’s figure of 32%, the Ministry of Economy has stated. According to the head of the ministry, Yulia Svyridenko, in February eco... #GDPinUkraine #UkraineEconomy #YuliyaSvyridenko
Inflation is slowing faster than the NBU expected. In January 2023, consumer inflation in Ukraine decreased to 26% annually and continued slowing in February. As well, a chart from the Macroeconomic and Monetary Review of the National Bank of Ukraine ... #InflationinUkraine #UkraineEconomy
Inflation in Ukraine will accelerate due to economic recovery and demand growth, said the Ukraine Ministry of Economy. “In the event that there is no destruction of critical infrastructure on a significant scale, it is likely that in the near future relatively restrained ra... #InflationinUkraine #UkraineEconomy
The EBRD significantly worsened the forecast for Ukraine’s economy. The European Bank for Reconstruction and Development significantly worsened their forecast for Ukraine’s GDP growth in 2023 from the 8% forecast in September 2022 to 1%. EBRD analysts noted that... #ebrd #GDPUkraine #UkraineEconomy
Moody’s downgraded Ukraine’s rating, but the future forecast is stable. Moody’s Investors Service lowered Ukraine’s rating from Caa3 to Ca but changed the forecast from negative to stable. The rating was reduced after assessing the risks caused by the war’s co... #Moodys #UkraineEconomicForecast #UkraineEconomy
Prices in Ukraine this year will grow at the same pace as last year. In 2023, it should not be expected to see a slowdown in the growth of consumer prices because inflation in Ukraine will be similar to the previous year’s rate, when it reached 26.6%, according t... #InflationinUkraine #pricesinUkraine #UkraineEconomy
Half of Ukraine’s business regulatory procedures will be canceled. The interdepartmental working group conducting an accelerated review of the state’s regulatory instruments for economic activity recommended that the Cabinet of Ministers cancel a significant amount o... #BusinessDeregulation #UkraineEconomicFreedom #UkraineEconomy
The UN estimates Ukraine’s economy decreased by more than 35%. According to a UN report, Ukraine’s economy shrank by more than 35% and had a monthly budget deficit of $5B as a result of the full-scale Russian invasion. The organization paid particular atten... #UkraineEconomy #UnitedNations #WarinUkraine
The NBU’s 2023 GDP growth forecast has decreased from 4% in October to 0.3% in January. The head of the National Bank, Andriy Pyshnyy, explained that the lowered estimate is due to the consequences from energy terrorism and a revision of the primary assumption regarding the duration of s... #AndriiPyshnyi #nbu #UkraineEconomy #UkraineGDPforecast
Fitch Ratings forecasts the growth of Ukraine’s economy in 2023. The American rating agency Fitch forecasts Ukraine’s GDP will grow by 2% in 2023, as the war prevents the return of large numbers of refugees or large-scale investment, and power outages create ... #FitchRatings #InflationinUkraine #UkraineEconomy #UkraineGDP
Fitch confirmed Ukraine’s likely default. Fitch Ratings has confirmed the long-term default rating of the issuer of Ukraine in foreign currency at the CC level, the agency’s website says. This reflects Fitch’s view that further re... #defaultinukraine #FitchRatings #UkraineEconomy
The Ukrainian government has decided to speed up business deregulation. The government has created an interdepartmental group, which will rapidly revise state regulatory instruments for business to improve the country’s business climate, said Prime Minister Denys Shmyhal.... #BusinessDeregulation #DenysShmyhal #UkraineEconomy #YuliyaSvyridenko
Due to the war, Ukraine’s economy shrank by 30.4% over the year. The Ministry of Economy has preliminarily estimated the drop in Ukraine’s GDP by the end of 2022 at 30.4%. This, in comparison to 2021 when Ukraine had economic growth of 3.4%. It is noted that ... #GDPUkraine #UkraineEconomy
The IMF updated its estimates for GDP and inflation in Ukraine in 2023. In 2023, Ukraine’s economy may grow by approximately 1%, and inflation and the state budget deficit will decrease, according to a memorandum within the framework of the IMF’s new monitorin... #GDPUkraine #InflationinUkraine #UkraineEconomy
The National Bank of Ukraine might allow key policy rate reduction in 2023. The members of the Monetary Policy Committee of the NBU, for the fourth time in a row, unanimously spoke in favor of maintaining the discount rate at the level at 25%, while several members supported... #FinancialStabilityUkraine #KeyPolicyRate #nbu #UkraineEconomy
Ukraine needs to triple its GDP per capita. Ukraine must make a triple economic jump from a transitional economy to a developing one. In particular, the challenge is to increase the gross domestic product per capita from a pre-war level of $4,... #DenysKudin #UkraineEconomy #UkraineGDP
The National Bank of Ukraine keeps the key policy rate at 25%. Ukraine’s central bank kept borrowing costs unchanged at 25% even as a barrage of Russian missile attacks have further imperiled the economic outlook. “An extended full-scale war by Russia and escala... #KeyPolicyRate #nbu #UkraineEconomy
The Ministry of Economy predicts export growth of UAH 100B in five years. In the current state of limited logistics resources, the Export Credit Agency’s (ECA) tools will stimulate the export of goods with high added value, said the Minister of Economy of Ukraine, Yulia Svy... #UkraineEconomy #UkrainianExport #YuliyaSvyridenko
Ukrainians are no longer afraid of rising prices and exchange rate fluctuations. In November 2022, the Consumer Sentiment Index in Ukraine was 85.2 points, which is 1.6 points higher than the October indicator. According to an Info Sapiens study, Ukrainians have become somewhat le... #IndexOfEconomicExpectations #UkraineEconomy
Ukraine’s economy might go into a steep decline this fall. According to the FT, due to the war, Ukraine’s monthly expenses have increased from $250M in February to $3.3B in May. The cabinet has already introduced drastic cuts in spending on day-to-day service... #FT #UkraineBudget #UkraineEconomy #WarinUkraine
Economic activity has begun recovering in Ukraine. In Ukraine, economic activity is gradually recovering after a significant drop at the beginning of the full-scale invasion by the Russian Federation, said Deputy Chairman of the National Bank Serhii N... #UkraineBusinessActivity #UkraineEconomicActivity #UkraineEconomy
Moody’s downgrades Ukraine’s sovereign credit rating. The Moody’s rating agency downgraded Ukraine’s long-term credit rating from Caa2 to Caa3 and negatively changed the outlook. The downgrade is due to increased risks in servicing Ukraine’s publi... #Moodys #UkraineEconomicForecast #UkraineEconomy
The EBRD has downgraded Ukraine’s economic downturn in 2022 and improved its outlook for 2023. The European Bank for Reconstruction and Development (EBRD) has downgraded the forecast for Ukraine’s economic decline due to the war to 30%, while at the end of March, the forecast was minus 20... #ebrd #UkraineEconomy #UkraineEconomyForcast
Inflation in Ukraine may exceed 20%. In April, inflation in Ukraine was 15.9%, and by the end of the year, it may exceed 20%, wrote the head of the National Bank, Kyrylo Shevchenko, for NV.ua. “This is a significant level of price... #Inflation #KyryloShevchenko #nbu #UkraineEconomy #UkraineInflation
Ukraine’s economy might shrink by almost half due to the war. The conflict in Ukraine has shut half of the country’s businesses and slashed exports, says a World Bank report. Ukraine is one of the world’s biggest exporters of grain and sunflower oil,... #EconomyDrop #ukraine #UkraineEconomy #Ukrainewar #War
Ukraine’s economy will shrink by a fifth this year. According to the European Bank for Reconstruction and Development, Ukraine’s economy will shrink by a fifth this year and then recover in 2023 if everything goes according to the scenario of a c... #ebrd #ukraine #UkraineEconomy #War
The financial sector functions despite the war. Since the start of the war, the official exchange rate has been frozen at USD/UAH 29.25 and EUR/UAH 33.17. Exports have mostly halted, while imports were reduced to a government-specified list of cri... #nbu #UkraineEconomy #WarinUkraine
The Ukrainian economy may decline by at least 10% this year. The International Monetary Fund says Ukraine needs about $4.8B in external financing this year, and the country’s GDP will shrink by 10% if the war ends soon. However, the IMF said the economic ... #EconomyofUkraineDuringWar #UkraineEconomy
The shadow sector in Ukraine reaches 31%. The level of Ukraine’s shadow economy decreased by 1% in the first three quarters of 2021 from 32%, stated the Ministry of Economy. The share of the shadow economy decreased the most in the real... #ShadowEconomy #UkraineEconomy
The National Bank of Ukraine has downgraded the forecast for Ukraine’s economic growth in 2021 to 3%. “This forecast is slightly lower than previously predicted due to several reasons. Poor economic results of the first half of the year, which have already been recorded. Quarantine restrictions. The h... #NBUforecast #UkraineEconomy #UkraineEconomyGrowth
EBRD expects Ukraine’s economy to grow by 3.5 % in both 2021 and 2022, said a press release of the bank. Growth in 2021 will be fueled by a rich grain harvest and the continued normalization of business activities, though slow progress on reform and rollout of the Covid-... #ebrd #UkraineEconomy #UkraineEconomyForcast
BNE IntelliNews Sept. 2021 Ukraine Country Report conclusions. “Ukraine’s economy has been recovering from last year’s crisis with industrial production bouncing back strongly in April, up 13% y/y. However, the growth is going off the boil now with industrial pro... #BNEIntelliNews #UkraineEconomy #UkraineEconomyReport
Dragon Capital on the main risks and concerns. Fiala named Russia as risk number one to the Ukrainian economy. The second, a possible deterioration in the commodity and financial markets. Third, a rollback in the reforms. He recalled that since 20... #DragonCapital #PetrFiala #UkraineEconomy
