The NBU updated its forecast for key indicators in the Ukrainian economy. The NBU predicts the growth of Ukraine’s GDP in 2024 at 3.7% (April’s forecast was 3%). Economic growth in the year’s first half continued, although it has slowed down in recent mont... #foreignexchangemarket #GDPinUkraine #InflationinUkraine #nbu #UkraineEconomicForecast #UkraineEconomy
Fitch downgraded Ukraine’s rating to pre-default level after its debt restructuring deal. Fitch Ratings downgraded Ukraine’s long-term issuer default rating (IDR) in foreign currency from CC to C. “Ukraine’s downgrade reflects Fitch’s view that the agreement in prin... #DebtRestructuring #DefaultUkraine #FitchRatings #imf #ukrainedebt #UkraineEconomy
Ukraine and Japan sign a document to support investment projects, and 14 Japanese companies are ready to invest in the Ukrainian economy. Ukraine and Japan signed the Protocol of Discussions on the Project of Strengthening the Involvement of the Private Sector for the Reconstruction of Ukraine. The document envisages the provision of as... #BusinessSupport #investments #Japan #JICA #UkraineEconomy
How does a business assess its state and prospects? The number of EBA member companies operating at full capacity has decreased from 78% to 64% compared to the beginning of the year. In particular, 45% of the surveyed top managers assess their business... #BusinessActivityExpectations #EBA #UkraineBusinessActivity #UkraineEconomy #ukrainianbusiness
Ukraine needs an additional 4.5 million workers for its GDP to grow by 7%. The demographic situation in Ukraine, particularly the availability of labor resources, is one of the most critical factors that is currently affecting the economy today and will affect the dynamics o... #GDPinUkraine #JobInUkraine #Migration #UkraineEconomy #UkraineLaborMarket #Ukrainianworkers
A large fertilizer producer has built its own 30 MW power generation plant and loaded production at 100%. Rivneazot has completed the construction of its electricity generation facility, and 100% loading of production capacities has been achieved. The enterprise can now produce up to 30 MW/h of electricit... #CherkasyAzot #ElectricityGeneration #Fertilizer #FertilizerProductionUkraine #Rivneazot #UkraineEconomy
In the next 10 years, Ukraine will continue to suffer from a labor shortage. According to OLX Robota research, 67% of employers in Ukraine have already faced a personnel crisis, caused by mobilization and the population’s migration abroad. Companies solve the problem dif... #EmployeeDeficit #MobilizationUkraine #UkraineEconomy #UkraineLaborMarket #UkrainePopulation
In June, Ukrainians’ consumer sentiment worsened sharply. The Ukrainian consumer sentiment index decreased by eight points in June to 64.5. According to a study, all components of the indicator decreased. The index of the current situation has decreased to 5... #BusinessExpectation #consumersentiment #InflationinUkraine #UkraineEconomicActivity #UkraineEconomy #UkrainiansIncome
Despite a slowdown in the second quarter, the GDP grew by 4.1% in the first half of the year. In June, Ukraine’s GDP grew by 1.1% compared to June last year. However, Ukraine’s economic growth continues to slow down – in May, GDP grew by 3.7%, in April – by 4.3%. The Ministry of Ec... #ElectricityDeficitUkraine #GDPinUkraine #UkraineEconomy #UkraineLaborMarket #UkraineMaritimeCorridor
Transcarpathia is investing more than €36M in a processing industrial park. A new industrial park, EKO Mukachevo, will be constructed in the city of Mukachevo in Transcarpathia. According to the park’s concept, processing enterprises will be created in the industrial pa... #EKOMukachevo #IndustrialPark #investments #Transcarpathia #UkraineEconomy
Ukraine attracted $55.8B in direct foreign investment in the first quarter. As reported by the Ministry of Economy with reference to the National Bank of Ukraine, the volume of direct foreign investments in the economy of Ukraine (residuals) (equity instruments and debt instr... #ForeignInvestor #investments #InvestmentsinUkraine #nbu #UkraineEconomy #UkrainianEnterprises
Annual inflation in Ukraine jumped to almost 5%, pushed up by electricity tariffs. Inflation in Ukraine accelerated to 4.8% in June compared to the same month in 2023, the State Statistics Service reports. At the same time, in the previous three months, this indicator went almost un... #ConsumerPrices #ElectricityTariffs #InflationinUkraine #pricesinUkraine #UkraineEconomy
The Ukrainian government clarified its 2024 forecast for developing the Ukrainian economy. The Ministry of Economy updated its statistical data and revised their assumptions and forecast for Ukraine’s economic and social development in 2024. Accordingly, by the end of 2024, nominal GD... #GDPinUkraine #InflationinUkraine #SalaryUkraine #UkraineEconomicForecast #UkraineEconomy #UnemploymentUkraine
Production of all major metallurgy products has increased in Ukraine. In the first half of the year, Ukrainian enterprises increased the production of cast iron by 22.3% (3.47 million tons), steel by 37% (3.87 million tons) and rolled products by 32.2% (3.14 million ton... #MetallurgyUkraine #SteelProductionUkraine #UkraineEconomy #UkraineIronProduction
The NBU has assessed the consequences of the continuing electricity shortage: The demand for workers is falling, the number of emigrants is increasing, and economic activity is weakening. In Ukraine, economic activity weakened in June, and entrepreneurs worsened their business expectations, primarily due to prolonged power outages and a lack of workers in the labor market, according to... #ElectricityDeficitUkraine #EmployeeDeficit #nbu #UkraineEconomicActivity #UkraineEconomy
New industrial parks will create 4,500 jobs in three regions of Ukraine. Three new industrial parks will be constructed in the Volyn, Lviv, and Ivano-Frankivsk regions. Since the beginning of the year, 16 new industrial parks have already been included in the register. Thi... #IndustrialPark #InvestmentsinUkraine #IvanoFrankivsk #UkraineEconomy #VolynRegion #Львів
The government predicts an acceleration of inflation in the coming months. As noted by the Ministry of Economy, in January through May the trend of slowing inflation continued; consumer inflation was the lowest in recent years – 2% since the beginning of the year. Annual inf... #ConsumerInflation #InflationinUkraine #nbu #UkraineEconomicForecast #UkraineEconomy
Closure of individual enterprises in Ukraine increased by 54% and companies by 15%, but the registration of new businesses is also growing. According to analysts, almost 92,000 individual entrepreneurs (FOP) ceased their activities in Ukraine in the first half of the year, which is 54% more than in the same period last year. The most sign... #businessinukraine #FOPukraine #UkraineBusinessActivity #UkraineEconomy #UkrainianEnterprises
The first project with significant investment within the framework of the “Made in Ukraine” platform received its initial evaluation. According to Minister of Economy Yulia Svyrydenko, in April the government approved a procedure for using funds to support projects with significant investment within the framework of the Made in Ukra... #BusinessSupport #investments #MadeinUA #UkraineEconomy #YuliyaSvyridenko
The Ukrainian government predicts a reduction in the gap between exports and imports in the next three years. In 2025-2027, Ukraine is expected to accelerate the growth of its export of goods and services against moderate growth rates in imports. This should reduce the negative trade balance of goods and serv... #UkraineBudget #UkraineEconomy #UkraineExport #UkraineImport #UkraineTrade #Ukrainetradedeficit
In six months, Ukraine exported $19.5B of goods; volumes increased, but sales have yet to. Ukrainian exports for six months of the year amounted to $19.5B and are identical to the figure for the first half of 2023. Physical export volumes increased by 35% and totaled 71 million tons. Howeve... #TarasKachka #UkraineEconomy #UkraineExport #UkraineImport #UkraineTrade
The World Bank moved Ukraine to the category of countries with higher-than-average incomes. The country’s income is estimated by the World Bank at $5,070 per capita. The World Bank generally divides the world’s economies into four income groups: low, lower than average, higher th... #GDPinUkraine #GNIukraine #UkraineEconomicForecast #UkraineEconomy #worldbank
Ukraine has a month to avoid default. According to The Economist, Ukraine is facing a looming financial crisis, because the two-year deferral of debt service payments that the country’s creditors agreed to is about to expire. The de... #Creditors #DebtRestructuring #DefaultUkraine #UkraineBond #ukrainedebt #UkraineEconomy
The IMF published a pessimistic scenario for Ukraine’s economy the war becomes protracted. The IMF’s negative scenario assumes that the war will end by the end of 2025 (compared to the end of 2024 in the baseline scenario) and that the shock will start in the third quarter of 2024. Th... #imf #UkraineEconomicForecast #UkraineEconomy #UkraineRecovery #WarinUkraine
Business expectations in Ukraine worsened for the second month in a row. In June, businesses again negatively evaluated the results of their activity. According to the NBU, index of expectations of business activity decreased to 43.6 from 48 in May. Rising costs due to ele... #BusinessActivityExpectations #businessinukraine #nbu #UkraineEconomicActivity #UkraineEconomy
Ukraine will receive another $2.2B from the IMF. The Board of Directors of the IMF completed the fourth review of the Extended Fund Facility for Ukraine (EFF), deciding to allocate about $2.2B to budget support. “Despite the difficult conditio... #EFFprogram #financialaidforUkraine #imf #IMFStructuralBeacons #ReformsinUkraine #UkraineEconomy
The IMF has worsened expectations for Ukraine’s economy and predicts an electricity shortage until 2026. The IMF has downgraded Ukraine’s economic growth forecast for 2024 and 2025 due to the consequences from Russian shelling of energy infrastructure. The revised forecast states that Ukraine’... #ElectricityDeficitUkraine #imf #KristalinaGeorgieva #UkraineEconomicForecast #UkraineEconomy #WarLosses
NBU: Life insurance is a potential source of long-term funds for Ukraine’s economy. In Ukraine, there is a significant potential for the development of life insurance, which can become a source of long-term funds for the economy, said the deputy head of the NBU, Kateryna Rozhkova. Th... #InsuranceUkraine #KaterynaRozhkova #LifeInsurance #nbu #UkraineEconomy
Ukraine has a significant imbalance between exports and imports, how does this affect the dollar exchange rate? Oleh Hetman, the Economic Expert Platform’s coordinator of expert groups, notes that because the exchange rate is not free-floating but in in a state of controlled flexibility, the national bank... #currencyexchange #nbu #OlehHetman #UkraineEconomy #UkraineExport #UkraineImport #Ukrainetradedeficit
The Ukrainian economy grew by 6.5% in the first quarter, reaching almost 82% of its pre-war level. According to the results from the first quarter of 2024, Ukraine’s real GDP increased by 6.5% compared to the same period last year, according to the State Statistical Service. A year earlier, a... #GDPinUkraine #UkraineEconomicForecast #UkraineEconomy #UkraineRecovery
The CES provides a forecast for key macro indicators through the end of the year. The Ukrainian economy will grow by 3-4% by the end of 2024, which is less than 2023, according to the macro forecast from the Center for Economic Strategy (CES). As experts explain, the pessimism rega... #dollarexchangerate #GDPinUkraine #InflationinUkraine #UkraineBudget2024 #ukrainedebt #UkraineEconomicForecast #UkraineEconomy
Ukrainian bankers predict a further key policy rate decrease to 12%. Seven members of the Monetary Policy Committee of the National Bank have reported the potential to cut the key rate to 12-12.5% ​​by the end of the year, given that the risks to the inflation forecast... #financeUkraine #InterestRate #KeyPolicyRate #nbu #UkraineBankingSystem #UkraineEconomy
IMF: The Russian war against Ukraine was a turning point for the global economy. The Russian aggression has had severe consequences for the global economy, and has become a turning point for the world’s future, said the deputy head of the IMF, Gita Gopinath. The war has incr... #GitaGopinath #GlobalEconomy #Globalinflation #imf #UkraineEconomy #WarinUkraine
Government experts advise Ukraine to build economic clusters and underground factories protected by air defense to accelerate its economic development. Experts from the Advisory Council on Economic Policy believe that Ukraine should build economic clusters protected by air defense systems and, closer to Russia, hide factories underground. They see th... #UkraineDevelopment #UkraineEconomy #ukrainianbusiness #UkrainianEnterprises
Since the beginning of the year, Ukraine’s GDP has grown by 4.3%. According to the Ministry of Economy, in May 2024 Ukraine’s GDP increased by 3.7%, and in January-May 2024, by 4.3%. GDP growth continued thanks to high export rates supported by the stable oper... #GDPinUkraine #UkraineBusinessActivity #UkraineEconomy #ukrainianbusiness
Ukraine’s banking regulator names the key risks to financial stability in the banking market. Banks in Ukraine have maintained financial stability and their clients’ trust while increasing lending and their participation in financing the budget deficit, the NBU reported. The regulator states t... #ConsumerLending #financeUkraine #LoansforBusiness #nbu #UkraineBankingSystem #UkraineEconomy
Where do companies with foreign investment work in Ukraine? The Unified State Register of Legal and Individual Entrepreneurs contains information on 2,903 companies with foreign capital registered in Kyiv and 800 in the Lviv region. Many companies with foreign... #businessinukraine #ForeignInvestor #InvestmentsinUkraine #UkraineEconomy #UkrainianMarket
Wholesale trade leaders increased their revenues by 17%. In 2023, the leading wholesale trade companies earned more than â‚´535B, 17% more than the leaders in 2022. The Kernel Trade company leads the revenue list for the third year in a row despite a decrease... #DLSolution #FozzyGroup #Kernel #MetinvestSMC #okko #TedisUkraine #UkraineEconomy #UkraineTrade
The EC forecasts Ukraine’s GDP growth to be 6.2%, subject to the implementation of the Ukraine Plan for the Ukraine Facility program. This forecast was shared by Marlene Madsen, a top European Commission official, during URC2024 in Berlin. According to her, the selection and schedule of crucial reforms are very important. Emphasis s... #GDPinUkraine #MarleneMadsen #ReformsinUkraine #UkraineEconomy #UkraineFacility #URC2024
The World Bank maintains Ukraine’s economic growth forecast for the current year and provides $109M in grant funding. The World Bank predicts the growth of the Ukrainian economy to be 3.2% in 2024, according to the bank’s June report, Global Economic Prospects 2024. In January, the forecast was identical. The b... #GrantsforUkraine #HOPEproject #REPowerEU #UkraineEconomicForecast #UkraineEconomy #worldbank
Retail is gaining momentum: Turnover in 2023 exceeded pre-war figures by â‚´100B. Unlike in 2022, when companies’ income significantly decreased due to Russia’s occupation of large areas of Ukraine, looting, shelling, constant air strikes, and blackouts, last year Ukrainian r... #ATBmarket #EpicentrK #RetailTradeTurnover #retailUkraine #Silpostores #UkraineEconomy
Ukraine needs up to $30B in annual investment, and the government has identified five priorities for rapid recovery. Ukraine needs from $10 to $30B in annual investments for the next 10 years, Prime Minister Denys Shmyhal said. “Our budget deficit is about 20% of GDP. It is important that the support is predic... #DenysShmyhal #GDPinUkraine #InvestmentsinUkraine #UkraineBudget2024 #UkraineEconomy
The global business community has created an advisory board for Ukraine, which will work on improving the business climate and attracting investment. Representatives of the world’s leading companies and business associations who are interested in investing in the Ukrainian economy have created the Business Advisory Council. The council’s inau... #BusinessAdvisoryCouncil #investments #SiemensEnergy #UkraineEconomy #URC2024
The National Bank has summarized the economic results for April-May. Here are the leading indicators: Inflation in April remained the same as in March – 3.2% annually. This was facilitated by a drop in prices for raw food products and persistent inflationary expe... #BusinessExpectation #InflationinUkraine #nbu #UkraineBudget2024 #UkraineEconomy #UkraineForeignTrade
Ukraine needs an external financing plan until 2027. To overcome macroeconomic risks and maintain macroeconomic stability, Ukraine and its partners from the Donor Coordination Platform must develop a long-term strategy for external financing and support... #financialaidforUkraine #ReformsinUkraine #UkraineBudget2024 #UkraineEconomy #UkraineRecovery
A third of Ukrainian industrial enterprises predict en increase in the selling prices of products, and 25% have increased production. Every third industrial enterprise expects to raise the selling prices of their goods in the next three months. At the same time, the dynamics of the corresponding expectations decreased compared to th... #businessinukraine #UkraineBusinessActivity #UkraineBusinessExpectation #UkraineEconomy #UkrainianEnterprises
The Cabinet of Ministers of Ukraine approved a change plan with 200 reforms for 2024. The Cabinet of Ministers approved the Reform Matrix, a change plan that includes officially approved recommendations from international partners. The matrix was created with the assistance of the Worl... #ReforminUkraine #UkraineEconomy #UkraineFacility #UkraineRecovery #worldbank
Ukraine needs money for its army, and these are the reasons. The state budget lacks funds to fully finance the Defense Forces of Ukraine due to assumptions about improvement in the security situation, increased spending on the Ministry of Internal Affairs, and ... #DanyloHetmantsev #UkraineBudget2024 #UkraineDefensePurchases #UkraineEconomy #WarinUkraine
Businesses in Ukraine are increasingly threatened by a lack of workers, not war. Mobilization in Ukraine has led to the significant draining of personnel from the Ukrainian economy. In addition, more than six million people have fled the war, and many men work in the shadow econom... #EmployeeDeficit #MobilizationUkraine #UkraineEconomy #UkraineLaborMarket #ukrainianbusiness #WarinUkraine
After two consecutive months of positive sentiment, in May Ukrainian businesses worsened their performance estimates. According to the National Bank, the index of expectations for business activity fell to 48 from 52.3 points in April. The mood of Ukrainian enterprises was affected by the increased intensity of hosti... #BusinessExpectation #businessinukraine #nbu #UkraineBusinessActivity #UkraineEconomy #UkraineLaborMarket
