National Bank: inflation will grow at a higher rate than predicted. Last week, the State Statistics Service announced that consumer inflation accelerated to 7.5% annually in August from 5.4% in July. In monthly terms, prices increased by 0.6%. However, the NBU noted t... #Hryvnia #InflationinUkraine #nbu #UkraineEconomicForecast #UkraineEconomy
Ukraine loses $11.2B annually due to mined territories; experts suggest raising funds for demining through bonds. According to a study by the Anthony Blair Institute, the safe demining of Ukraine will require $34.6B and extraordinary innovation. At the same time, at the current funding level and with the use of t... #AgriculturalBond #agroUkraine #AnthonyBlair #DeminingUkraine #HowardBuffett #UkraineEconomy
The IMF has worsened its GDP growth and inflation forecasts for Ukraine. The IMF predicts the growth of Ukraine’s real GDP at 3% in 2024 with inflation at 9%, the National Bank reported following the IMF mission. The IMF emphasized that Ukrainian fiscal policy, high ... #GDPinUkraine #imf #InflationinUkraine #nbu #UkraineEconomicForecast #UkraineEconomy
The free trade agreement between Ukraine and Turkey will contribute to attracting investment and reconstruction. The Ukrainian Ambassador to Turkey, Vasyl Bodnar, said that because of the free trade agreement with Turkey, Ukrainian manufacturers will have access to the Turkish market, which tends to be more clos... #FreeTradeAgreement #InvestmentsinUkraine #Turkey #UkraineEconomy #UkraineReconstruction #UkraineTrade #VasylBodnar
The NBU explains why Ukraine’s price growth accelerated in the summer. In July, consumer inflation in Ukraine accelerated to 5.4% annually compared to 4.8% in June. According to the NBU’s estimates, the tendency toward accelerated consumer inflation continued in Au... #hryvniaexchangerate #InflationinUkraine #nbu #pricesinUkraine #UkraineEconomy
After Ukraine’s successful debt restructuring, the Fitch agency raised the country’s hryvnia rating. The rating agency Fitch Ratings, after the completion of Eurobond debt restructuring, raised the long-term issuer default rating (IDR) of Ukraine in local currency to CCC+ from CCC- and confirmed the ... #CreditRatingUkraine #DefaultUkraine #Eurobond #FitchRatings #ukrainedebt #UkraineEconomy
The situation in the Ukrainian labor market increases business costs and the price dynamics for goods and services. According to the September review by the National Bank of Ukraine, the improvement of Ukraine’s energy situation in August contributed to an increase in demand for labor and the number of employees. I... #EmployeeDeficit #JobInUkraine #LaborMarketUkraine #nbu #UkraineEconomy #UnemploymentUkraine
In the first half of the year, Ukrainian retail improved its main indicators. The index of retail well-being is gradually improving, and vacancy in shopping centers is decreasing, but no significant changes in attendance have yet been observed. The situation’s improvement occur... #RealEstateVacancy #retailUkraine #ShoppingMallsUkraine #UkraineEconomy
Ukrainian banks increased their profits by 22%, with one of them accounting for 40% of the total amount. The total profit generated by Ukrainian banks for the first seven months of the year is ₴119.44B, which is 22% more than in the same period last year. Along with earnings, income tax increased by 80% ... #financeUkraine #MTBbank #PrivatBank #UkraineBanksProfits #UkraineEconomy #UkrainianBanks
Transcarpathia is turning into an economic hub; what makes the region attractive for businesses? As of July, more than 80,000 entrepreneurs worked in Zakarpattia Oblast. During the war, the number of entrepreneurs has increased by more than 6,000, which indicates favorable conditions for economic... #BusinessDevelopment #BusinessRelocation #SupportBusiness #Transcarpathia #UkraineEconomy #ukrainianbusiness
Despite widespread blackouts, GDP growth accelerates in Ukraine. In July, Ukraine’s GDP growth accelerated to 2.7% after rising 1.6% in June in response to early harvesting. For January-July, growth is estimated at 4% [±1%], which generally corresponds with t... #ElectricityDeficitUkraine #GDPinUkraine #UkraineEconomy #UkraineMaritimeCorridor
Maintaining the discount rate level is necessary to develop lending and deposit programs. In autumn, against the background of increasing inflation, it will be essential to maintain the discount rate at 13% and the rate for 3-month deposit certificates at 16%, according to finance experts.... #DepositsInterestRate #financeUkraine #KeyPolicyRate #UkraineBankingSector #UkraineEconomy
This fall, the prices of products in Ukraine will increase by 30%. A short-term seasonal decrease in vegetable prices will be replaced by an increase in autumn, especially for high quality goods. Entrepreneurs complain that they have run out of security, and consumer... #ConsumerInflation #InflationinUkraine #pricesinUkraine #UkraineEconomy
Inflation in Ukraine will begin to grow – prices will rise in the fall. According to the State Statistics Service, zero inflation growth was recorded in Ukraine in July, but economists believe it will be different in August and the following months. The situation is unbal... #InflationinUkraine #ubnnews #UkraineEconomy #Ukrainenews #WarInflation
Despite a reduction in gold and foreign currency reserves, the NBU has enough of each to respond to possible crises. As of August, the National Bank’s gold and currency reserves reach $37.2B. Since the beginning of the year, the reserves have fluctuated from $37B to $43.8B. Currently, the NBU’s reserves ... #UkraineEconomy #UkraineReserves
Analysts have updated the forecast for this year’s main Ukrainian macroeconomic indicators. Ukraine’s economy will grow by 4% in 2024, inflation will accelerate to 8%, and the exchange rate is expected to be ₴42.6 to $1, according to an updated macro forecast from the ICU financial gro... #EconomicOutlookForUkraine #UkraineEconomy
Financial analysts and businesses predict what will happen to prices and the dollar exchange rate in Ukraine. Inflation in Ukraine will accelerate over the next 12 months but will not exceed 9%. Such is the forecast given by bankers, financial analysts, and heads of enterprises. In July, financial analysts pr... #dollarexchangerate #financeUkraine #InflationinUkraine #UkraineEconomicForecast #UkraineEconomy
Most Ukrainians state that the economic situation is worsening, but the population works more and has higher income. The majority of Ukrainians (83%) believe that the economic situation in Ukraine has worsened over the past year, according to a study by the Rating group. Another 10% saw no change, and 2% saw an impr... #consumersentiment #SociologicalSurvey #UkraineEconomy #UkraineLaborMarket #UkrainiansIncome
The volume of foreign exchange earnings by exporters increased by 16%, but up to $8B still must be returned to Ukraine. According to the NBU, the amount of export earnings received in Ukraine for January-June 2024 exceeded the result for the same period in 2023 by 15.9%, or $3.3B, while the amount of unreturned foreign... #currencyexchange #CurrencyRestrictions #nbu #UkraineEconomy #UkraineExport
The implementation of an investment project in Ukraine to develop hydrogen energy involves attracting about €33B in investment capital. Scientists presented research on the development of investment projects in Ukraine: To achieve the goals of the Development of hydrogen energy in Ukraine project, a total investment of €32.882B will b... #FreightCars #GDPinUkraine #hydrogenEnergy #investments #Titaniumproduction #UkraineEconomy
Unemployment is increasing in Ukraine, and job seeker activity remains consistently low. The number of new vacancies in the employment market during July practically did not change and remained at about 90% of the average level in 2021, according to data from the Center for Economic Strat... #JobInUkraine #Migration #MobilizationUkraine #UkraineEconomy #UkraineLaborMarket #UnemploymentUkraine
Ukraine needs to reduce the size of its shadow economy to continue receiving help from Western partners. As FT writes, Ukrainian authorities are trying to improve the country’s financial condition by implementing several scenarios simultaneously, which can be called a mixture of debt restructuring,... #AmChamUkraine #ForeignInvestor #ReformsinUkraine #UkraineBudget #UkraineEconomy #UkraineShadowEconomy
Entrepreneurs note a satisfactory business climate only in the west of Ukraine. Business conditions in other regions of Ukraine are assessed by companies as difficult, and only in the Western region do most entrepreneurs consider them satisfactory, according to a survey by the Eu... #BusinessExpectation #Kharkiv #MobilizationUkraine #UkraineBusinessActivity #UkraineEconomy #ukrainianbusiness #Львів
The National Bank predicts a slowdown in inflation next year. The NBU will allow exchange rate fluctuations that will make it possible to maintain control over inflation expectations and achieve the 5% inflation target, said National Bank Chairman Andriy Pyshnyi... #AndriiPyshnyi #InflationinUkraine #KeyPolicyRate #nbu #UkraineEconomicForecast #UkraineEconomy
Ukraine is increasing its export of value-added products more than the supply of raw materials abroad. According to Deputy Minister of Economy Taras Kachka, a certain shift in emphasis occurred even before the war. After the invasion by the Russian Federation, many businesses completely updated their a... #ProcessingPlantUkraine #TarasKachka #UkraineEconomy #UkraineExport #ValueAddedProduct
Experts have analyzed the dynamics of Ukraine’s credit rating over 20 years. In August, S&P downgraded Ukraine’s long-term and short-term foreign currency credit ratings from CC/C to SD/SD, which indicates selective default. The rating will be upgraded after the debt... #CreditRatingUkraine #DefaultUkraine #StandartandPoor #UkraineEconomy
The necessary conditions for further discount rate reductions in Ukraine are no longer present. Thanks to favorable macro-financial trends, the National Bank of Ukraine has reduced the discount rate from 25% to 13% in one year. However, the NBU does not currently see further prerequisites for lo... #CurrencyMarket #financeUkraine #InflationinUkraine #InterestRate #nbu #UkraineEconomy
In July, Ukraine exported products worth almost $3B; the largest amount was shipped to the EU. In July, Ukraine sold $2.97B worth of products abroad, 9% more than in June. In metallurgy, records were set in the form of 219,000 tons of semi-finished iron products, which is 83% more than in June ... #agroexportukraine #TarasKachka #UkraineEconomy #UkraineExport #UkrainianMetalExport
Ukraine’s labor market is stagnating, forcing companies in several sectors to plan layoffs. Most employers in the main economic sectors do not plan to increase vacancies dramatically and lay off workers. However, some companies are going to adjust their personnel. They plan to fire employees... #EmployeeDeficit #JobInUkraine #SalaryUkraine #UkraineEconomy #UkraineLaborMarket
The S&P assesses the duration and consequences of the war for Ukraine’s economy. The international rating agency S&P Global Ratings notes high uncertainty regarding the scope, results, and consequences of the Russian war in Ukraine. “If the economy begins to recover, giv... #FitchRatings #GDPinUkraine #StandartandPoor #UkraineEconomicForecast #UkraineEconomy #WarinUkraine
Despite declines in attendance and the electricity shortage, restaurant industry revenue increases by 16%. According to the Poster POS company, restaurant turnover in January-June compared to the corresponding period in 2023 increased by 16%, and the average check, due to price increases, increased by 13% ... #PosterPOS #UkraineCompaniesProfit #UkraineEconomy #UkraineRestaurants #ukrainianbusiness
The business community has softened its negative expectations; the construction sector feels the most confident. The Business Activity Expectation Index (BAEI) increased to 44.4 in July from 43.6 in June but is still below this year’s high of 52.3, recorded in April. Adaptability to energy supply problems,... #BusinessActivityExpectations #UkraineBusinessActivity #UkraineEconomy #ukrainianbusiness #UkrainianEnterprises
Ministry of Economy: The average salary in Ukraine has increased to ₴19,553. Employers in Ukraine are raising wages for employees to retain and attract new highly qualified personnel amidst a shortage of labor resources, the Ministry of Economy reports. According to a state an... #AverageSalaryUkraine #EmployeeDeficit #JobInUkraine #SalaryUkraine #UkraineEconomy
The US proposes a plan for Ukraine’s economic recovery. During her last visit to Kyiv as the US Special Representative for Ukraine’s Economic Recovery, Penny Pritzker evaluated the concept of Ukraine’s economic recovery and announced five components ... #EuropeanIntegration #investments #PennyPritzker #ReformsinUkraine #UkraineEconomy #UkraineRecovery
Pritzker names the most attractive sectors of the Ukrainian economy for investors. Penny Pritzker, the US special representative, answered a question about the economic sectors that are ready for investment now: “Ukraine’s agriculture feeds 400 million people in the worl... #agroUkraine #DefenseIndustryUkraine #ForeignInvestor #InvestmentsinUkraine #PennyPritzker #UkraineEconomy #UkraineTechnology
American businesses are optimistic about Ukraine’s economic future. The American private sector looks at Ukraine’s economic future optimistically and realistically. Optimism is based on GDP growth, tax revenue, and the creation of new jobs, said US Special Repre... #Energoatom #EuropeanIntegration #GDPUkraine #InvestmentsinUkraine #PennyPritzker #UkraineEconomy #WestingHouse
Ukraine’s processing industry leaders increased their income by 23%. In 2023, the leaders in the Ukrainian processing industry received ₴317.53B in revenue, which is 23% more than a year earlier, with 33% of this income accounted for by companies of the SCM group. It i... #MHP #ProcessingPlantUkraine #Roshen #SCMgroup #UkraineCompaniesProfit #UkraineEconomy
The largest mineral water producer has announced record sales growth of over 100%. The shipment volume of drinks and waters from IDS Ukraine brands (producer of mineral waters Morshynska and Myrhorodska) increased to 5.4 million bottles per day to a new record for the company. Previ... #BusinessDevelopment #IDSukraine #MineralWaters #UkraineEconomy
The NBU leaves the key policy rate unchanged due to accelerated inflation. Ukraine halted a run of three interest-rate cuts after an acceleration in inflation prompted policymakers to signal that easing will only be possible to resume next year, reported Bloomberg. The Natio... #financeUkraine #InflationinUkraine #KeyPolicyRate #nbu #UkraineEconomy
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
