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 ₴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 ₴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
Ukraine increased its exports of frozen vegetables by 100% over last year. In the first quarter of 2024, the export of frozen vegetables from Ukraine increased by more than 100% compared to the same period in 2023 – up to 2,200 tons. Turnover reached more than $2.7M. F... #agroexportukraine #FrozenVegetables #UkraineEconomy #UkraineExport
World Bank: Almost a third of Ukrainians live in poverty. The number of Ukrainians living in poverty has increased by 1.8 million since 2020, accounting for about 29% of the population, as the Russian invasion continues to damage the country’s economy.... #FoodSecurity #InflationinUkraine #PovertyInUkraine #UkraineEconomy #UkrainePopulation #UkrainiansIncome #worldbank
Transcarpathia and Cherkasy will launch industrial parks with processing enterprises that will create more than 6,000 jobs. The Cabinet of Ministers included the Tyachiv industrial park in Zakarpattia and the Smila industrial park in the Cherkasy region to the state’s Register of Industrial Parks. The Tyachiv industrial pa... #Cherkasy #IndustrialParkConstruction #IndustrialParksUkraine #Smila #Tyachiv #UkraineEconomy #Zakarpattia
A Ukrainian investment company revises its economic forecast for Ukraine. Investment group Dragon Capital has improved its inflation forecast in 2024 from 8% to 7.6%. At the same time, the previous estimate of a 4% increase in GDP in 2024 has been maintained thanks to the r... #DragonCapital #GDPinUkraine #InflationinUkraine #UkraineBudget2024 #ukrainedebt #UkraineEconomicForecast #UkraineEconomy
The NBU has downgraded its growth forecast for the Ukrainian economy over losses in the energy sector. The National Bank worsened its 2024 growth forecast for Ukraine’s economy from 3.6% to 3% due to the severe consequences from Russia’s missile attacks on energy infrastructure. The central... #ebrd #energyukraine #GDPinUkraine #nbu #UkraineEconomicForecast #UkraineEconomy #WarinUkraine
How can investors use co-financing to support Ukraine’s private sector? Ukraine is coordinating with Development Finance Institutions (DFI) to find a way to support its private sector. A memorandum between the EBRD and DFIs on the Co-financing Platform allows long-term pr... #ebrd #ForeignInvestor #InvestmentsinUkraine #UkraineEconomy #YuliyaSvyridenko
The Odesa region will build a multidisciplinary industrial park with 500 jobs. The Cabinet of Ministers included the R-33 industrial park in the Odesa region in the Register of Industrial Parks. The new industrial park was initiated by the Kuyalnyk Village Council and is the 79t... #IndustrialPark #Odesa #R33 #UkraineEconomy #UkraineIndustry
The US notes the positive economic impact of the reforms Ukraine has implemented; an influx of multibillion-dollar investment is expected. The US welcomes Ukraine’s adoption of a law to improve corporate governance, US Ambassador to Ukraine Bridget Brink said at a conference on corporate reform. “Ukraine has successfully implemente... #BridgetBrink #InvestmentsinUkraine #OleksiySobolev #ReformsinUkraine #UkraineEconomy
Latvia will help Ukraine with economic and logistics development. Investment in the development of Ukraine’s economy will contribute to strengthening the country at the front, Latvian Minister of Economy Viktors Valainis emphasized. “We can help not only... #infrastructureUkraine #Latvia #UkraineDevelopment #UkraineEconomy #UkraineExport #Ukrainianlogistics #ViktorsValainis
The Ministry of Economy of Ukraine estimates GDP growth in April to be 4.3%. In April 2024, Ukraine’s GDP growth compared to April last year was about 4.3%. For January-April, the economic department noted that the growth is estimated at the level of 4.4% compared to the... #energyukraine #GDPinUkraine #IndustryUkraine #UkraineEconomy #YuliyaSvyridenko
Economic experts have identified dangerous economic trends in Ukraine. In the last four months, Ukraine exported goods worth $13.5B, the same as last year. Ukraine rapidly increased the physical volume of exports from 36 to 49 million tons against significantly lower wor... #UkraineEconomicForecast #UkraineEconomy #UkraineExport #UkraineForeignTrade #UkraineImports #Ukrainetradedeficit
Real GDP growth slowed in Ukraine due to Russian attacks on the energy system. The growth rate of real GDP in Ukraine has slowed down somewhat. The key problem is reduced access to a constant electricity supply and sufficient amounts of electricity. According to the IER, GDP in ... #ElectricityDeficitUkraine #energyukraine #GDPinUkraine #GVAukraine #UkraineEconomy #UkraineExport
Over 2600 foreign businesses have opened in Ukraine since the start of the full scale war. Most often, citizens of Turkey, Uzbekistan, Poland, and the US have incorporated new businesses, Opendatabot notes. However, citizens from 100 countries have invested money in Ukraine during the war. ... #businessinukraine #ForeignInvestor #InvestmentsinUkraine #TENS1MA #UkraineEconomy #YugenVenture
The EBRD predicts a slowdown in the Ukrainian economy’s growth. According to an EBRD forecast, Ukraine’s economy will grow by 3% in 2024 and by 6% in 2025. This pace is lower than the 5.3% rise in 2023 following a sharp drop in 2022 caused by the Russian inv... #ebrd #GDPinUkraine #UkraineEconomicForecast #UkraineEconomy #UkraineMaritimeCorridor
In 2024, Ukraine registered a record number of industrial parks. The government registered nine new parks in the first quarter of 2024, equal to the number registered in all of 2022 and exceeding 2021’s figure for 2021, when seven parks were registered. In addition... #IndustrialPark #IndustryUkraine #investments #JobInUkraine #UkraineEconomy
The NBU predicts that consumer price growth will accelerate moderately in the coming months, although in April, it was lower than the regulator predicted. “The deviation from the forecast was provided by the dynamics of little-forecasted factors of a temporary nature, first of all, a sh... #ConsumerPrices #InflationinUkraine #nbu #pricesinUkraine #UkraineEconomicForecast #UkraineEconomy
Ukraine must pay $25.2B to service debt this year. The Ministry of Finance has preliminarily estimated that in 2024 Ukraine will have to pay more than ₴1T ($25.2B) as part of its repayment and servicing of state debt. As of May 1, the total amount of ... #UkraineBond #UkraineBudget2024 #ukrainedebt #UkraineDebtPayment #UkraineEconomy
How privatization drives investment into the economy: the government’s response. The privatization of state-owned enterprises allows the state not only to receive one-time income from sales but also acts to attract investment to develop these enterprises. Thus, for every ₴1 receiv... #HotelUkraina #InvestmentsinUkraine #OleksiySobolev #PrivatizationUkraine #UkraineEconomy
EU accession will strengthen Ukraine and the entire bloc. Olga Stefanishyna, the Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine, is convinced that Ukraine will become stronger as a full member of the EU. At the same time, Ukraine... #agroUkraine #EUEconomy #EuropeanIntegration #OlgaStefanishyna #UkraineAccessionToEU #UkraineEconomy #UkraineEU #Ukrainianlogistics
How big is the national debt, and how much do Ukrainians owe? According to the Ministry of Finance data, the state’s and state-guaranteed debt as of April 1, 2024, amounts to ₴5.9T ($149B). Since 2020, this amount has increased significantly, mostly due to the f... #ebrd #EIB #ExternalDebt #imf #ukrainedebt #UkraineDebtRepayment #UkraineEconomy #worldbank
Ukraine is working on a free trade agreement with Turkey, which will abolish more than 90% of tariffs on industrial goods. The government has approved and submitted to the Ukrainian Parliament a draft law for the ratification of a free trade agreement between Ukraine and Turkey. The countries signed the agreement in Kyiv ... #FreeTradeAgreement #UkraineEconomy #UkraineTrade #UkraineTurkeyfreetrade
