Ukraine has increased its budget revenues, but the deficit reaches 34% of all revenues. From January 1 to February 8, budget revenues increased by 26.9% compared to last year, the NBU reported. Without international financial aid, they increased by 60% due to a 70% increase in tax revenu... #BudgetDeficit #financeUkraine #nbu #TaxesUkraine #UkraineBudget2024 #UkraineBudgetRevenue #UkraineEconomy
Where do Ukrainians spend 80% of their family budget every month? According to UTG analysis, Ukrainians spend the biggest chunk of their income to survive – expenses for communal services and food occupy 80% of Ukrainian families’ budgets. Expenditures o... #FamilyBudget #UkraineEconomy #Ukrainians'spending #UTG
Without help from the US, Ukraine will have to expand its borrowing: What else is foreseen in Ukraine’s Plan B? Ukraine is working on a plan to cover the budget deficit without US support. The plan includes three elements: expanding domestic bond sales, raising taxes, and cutting spending. It is to be proposed ... #financialaidforUkraine #UkraineBudget2024 #UkraineBudgetDeficit #UkraineEconomy #UkraineFacility
Here are the reasons for the slowdown of inflation in Ukraine and new risks for an opposite trend. Several factors influenced the slowdown in inflation in January of this year. For example, aggregate demand has decreased significantly – by 25% compared to before the full-scale invasion, said ... #BohdanDanylyshyn #CurrencyMarket #InflationinUkraine #nbu #UkraineEconomy
Britain extends duty-free trade with Ukraine for five years, and trade has increased by 20% to $1.4B. The UK Department for Business and Trade announced that duty-free trade will be extended for all goods for five years, except for eggs and poultry, for which the regime will be extended only for two y... #DutyFreeTrade #UkraineBritainTrade #UkraineEconomy #YuliyaSvyridenko #ВідвантаженнятоварівУкраїна
Credit rating agency Fitch Ratings has assessed Ukraine’s banking sector. Ukraine’s banking sector has demonstrated considerable resilience during the war, aided by supportive monetary policy and lenient regulation, Fitch Ratings notes. “We expect the main lendi... #CreditRatingUkraine #financeUkraine #FitchRatings #UkraineBankingSector #UkraineEconomy
Top ICU analysts forecast the recovery of the Ukrainian economy in the coming years. The ICU’s Head of the Macroeconomic Research Department, Vitaliy Vavryshchuk, said the economy will mostly recover at rates between 3% and 5% over the next two to three years. However, an economic jum... #UkraineEconomicForecast #UkraineEconomy #UkraineRecovery #VitalyVavryshchuk
The NBU predicts a further decrease in the key policy rate. Most of the members of the Monetary Policy Committee of the National Bank predict a reduction of the discount rate to 14% by the end of the year. They believe that the NBU can return to lowering the d... #financeUkraine #KeyPolicyRate #nbu #UkraineEconomy #UkraineMonetaryPolicy
The NBU explains why the hryvnia strengthened at the beginning of the year. In January 2024, the situation on Ukraine’s foreign exchange market gradually improved, recovering amidst the fading effects of significant budget expenditures at the end of the year, explained NBU De... #AndriiPyshnyi #financeUkraine #Hryvnia #hryvniaexchangerate #nbu #UkraineEconomy #YuriGeletiy
Analysts calculate the damage caused by the border closure and give their forecast for the coming months. The blockade of Ukraine’s western borders by protesters since the fall of 2023 has led to decreased exports and imports. At the same time, the flow of goods was quickly directed in other ways. T... #BorderBlockade #nbu #UkraineEconomy #UkraineEconomyLosses #UkrainePolandCheckpoints #ВідвантаженнятоварівУкраїна
The NBU presents a scenario for Ukraine’s rapid economic growth during the process of joining the EU. Sustainable economic growth at a high rate is possible only through a steady increase in productivity. European integration can become a driving force for growth, even before Ukraine’s official access... #EuropeanIntegration #GDPinUkraine #nbu #UkraineEconomy #UkraineRecovery
An industrial park with ₴735M in investment will be built in the Kyiv region. The Cabinet of Ministers has added Universal Industry, located in the village of Rokytne, Kyiv region, to the Register of Industrial Parks. Total investment in the industrial park for the next three y... #IndustrialParksUkraine #investments #ProcessingPlantUkraine #UkraineEconomy #UniversalIndustry
The index of business activity expectations in Ukraine has worsened. The index of business activity expectations, which the NBU calculates every month, decreased to 41.0 in January from 45.7 in December 2023. Given the growing pressure from production costs and logisti... #BusinessActivityExpectations #nbu #UkraineBusinessActivity #UkraineEconomy #бізнесвУкраїні
ICU analysts explain what exactly ensured the growth of Ukraine’s economy by 5% last year. Ukrainian GDP growth of almost 5% resulted from stabilization following the previous year’s drop of 29.1%, ICU group analyst Vitaly Vavryshchuk said. “Additional investments or infrastructure pr... #BlackSeaCorridor #financialaidforUkraine #ICU #UkraineBudget #UkraineEconomy #VitalyVavryshchuk
The lack of EU and US financial aid puts Ukraine’s economy at risk. Without €50B in aid from the EU and additional funding from the US, Ukraine will not be able to keep fighting against Russia or sustain its damaged economy for long. “This is critical for us bec... #DanyloHetmantsev #financialaidforUkraine #MariaRepko #UkraineEconomy #UkraineFacility
Ukraine’s national debt grew 30.4% last year to a new historical high. As of December 31, 2023, the state’s and state-guaranteed debt amounted to ₴5.519T, or $145.32B, reported the Ministry of Finance. The ratio of national debt to GDP was 85%. State and state-guaranteed... #DanyloHetmantsev #financialaidforUkraine #GDPinUkraine #UkraineBudget2024 #ukrainedebt #UkraineEconomy
Export from Ukrainian ports is growing and bringing billions to the economy. As of January 29, dozens of ships were loading in the ports of Odesa. Agricultural products are exported the most, and metallurgy accounts for a significant portion. Nine vessels were in the port of O... #BlackSeaCorridor #OleksiySobolev #SeaExport #SeaPortsUkraine #SulinaCanal #UkraineEconomy #ВідвантаженнятоварівУкраїна
Last year, the volume of land sales increased by 58%, and prices are expected to rise this year. As stated in the review of the KSE, despite the significant growth in the agricultural land market in 2023, it has not yet reached pre-war indicators. Land turnover in 2023 increased by 58% compared t... #AgroLand #FarmLandReform #LandMarketUkraine #UkraineEconomy
All EU members have already agreed on the provision of €50B to Ukraine. Prime Minister of Ukraine Denys Shmyhal said that all 27 EU member states agreed to support the four-year €50B Ukraine Facility program and will approve it on February 1. If nothing changes, this year... #EdgarsRinkevics #EUfinancialAid #OlenaShulyak #UkraineBudget2024 #UkraineEconomy #UkraineFacility
The Ministry of Economy has assessed 2023’s most important economic indicators. Preliminary operational estimates indicate that Ukraine’s real GDP grew by 5% in 2023 after falling by 28.8% in 2022. According to the Ministry of Economy, the service sector’s most positi... #GDPinUkraine #InflationinUkraine #nbu #UkraineEconomy
Ukraine’s largest forest consumer announces losses due to the border blockade. State enterprise Forests of Ukraine put up more than one million cubic meters of wood for auction, director Yuriy Bolokhovets said. This record amount of timber was accumulated through unsold output d... #BorderBlockade #ForestsOfUkraine #UkraineEconomy #YuriyBolokhovets
Experts have recognized the “harm” of currency restrictions in Ukraine for economic recovery. Currency restrictions made sense at the beginning of the war in order to maintain economic stability, but now these restrictions only hold back the development of the economy and the attraction of pot... #CurrencyRestrictions #financeUkraine #InvestmentsinUkraine #UkraineEconomy
The US announced its main anti-corruption tasks to attract investments in Ukraine. Ukraine constantly needs to invest in the fight against corruption – the government and citizens must monitor each other to achieve the necessary standards, said the US special representative fo... #Anticorruption #InvestmentsinUkraine #PennyPritzker #ReformsinUkraine #UkraineEconomy #UkraineFightingCorruption
Ukraine is launching the Ukraine Development Fund and anticipates $30B in investment over four years through the Ukraine Facility. At the World Economic Forum in Davos, Minister of Economy Yuliya Svyridenko reported that work is underway on the Ukraine Development Fund and other instruments for attracting investment. “In 2023, th... #Davos2024 #InsuranceUkraine #InvestmentsinUkraine #UkraineEconomy #UkraineFacility #YuliyaSvyridenko
Infrastructure restoration has significantly driven domestic metallurgy; analysts predict further growth in demand. According to the results from 2023, the internal consumption of steel, considering imports, was approximately 3.5 million tons. Although metal trading companies face numerous problems caused by the wa... #MetallurgiaUkraine #MetallurgicalProduction #UkraineEconomy
Rising production, slowing inflation, rising wages, and downsizing: Businesses announce their expectations for 2024. Companies expect business activity to grow in the next 12 months, albeit slightly slower. This is evidenced by the Business Expectations Index of enterprises, which was 101.6% in the fourth quarter of... #UkraineBusinessActivity #UkraineBusinessExpectation #UkraineEconomy #бізнесвУкраїні
Ukraine’s imports exceed exports by 76%. In 2023, Ukraine imported goods worth $63.5B and exported $36B, according to the State Customs Service. Ukraine imported the most goods from China, $10.4B, Poland $6.6B, and Germany $4.9B. Ukraine exp... #nbu #UkraineEconomy #UkraineForeignTrade #UkraineTrade #Ukrainetradedeficit
The state will focus on launching joint defense enterprises with Western companies and developing industrial parks. In 2024, Ukraine aims to create joint defense enterprises with Western companies and localize the production of weapons, demining equipment, and other military equipment, Minister of Economy Yulia Svy... #DefenseEnterprises #DefenseIndustryUkraine #IndustrialPark #UkraineEconomy #YuliyaSvyridenko
The World Bank has worsened its growth forecast for Ukraine and for the world’s economies. The World Bank, in its updated review of the global economy, improved its estimate of Ukraine’s GDP growth in 2023 to 4.8% and predicted a slowdown in recovery to 3.2% in 2024. In 2025, growth, ... #GDPinUkraine #GlobalEconomy #UkraineEconomy #worldbank #WorldBankForecast
Despite the war, the M&A market in 2023 reached $1.4B and significantly exceeded the previous year’s figure. The volume of M&A deals in Ukraine at the end of 2023 amounted to $1.2B, reported InVenture. Considering these deals’ low publicity and transparency, this figure could be slightly higher and... #investments #MergersAcquisitions #UkraineEconomy
The NBU has summarized the war’s consequences for the Ukrainian economy. The full-scale invasion by the Russian Federation has caused a 30% loss of Ukraine’s GDP. Also, the forced exodus of Ukrainians in 2022 caused an increase in inflation, said the head of the Nati... #AndriiPyshnyi #GDPinUkraine #nbu #UkraineEconomy #WarinUkraine
Food prices in Ukraine will increase by 5-7% by the end of winter, said the Deputy Chairman of the All-Ukrainian Agrarian Council, Denys Marchuk. He noted, “There will be no sharp price increases because there are currently no facts that would lead to that occurring.... #DenysMarchuk #FoodPriceUkraine #InflationinUkraine #UkraineEconomy
Ukraine takes a risk with tax collection rates higher than the pre-war period. Tax and interest deductions from the economy for 2022-2023 in Ukraine doubled. For example, tax revenues to the consolidated budget have increased by 110% over the past two years, thanks mainly to rev... #BohdanDanylyshyn #TaxesUkraine #UkraineBudget #UkraineEconomy
The UN does not see positive prospects for the global economy, but they recognize the stability of the Ukrainian economy. In the UN Report on the World Economic Situation and Prospects for 2024, analysts predict that the growth rate of the world economy will slow from 2.7% last year to 2.4% in 2024. Economists predict th... #GlobalEconomy #Globalinflation #UkraineEconomy #UN #WorldEconomyForecast
Traders predict a 10% increase in retail trade turnover in Ukraine. According to the director of the UTG, Yevgenia Loktionova, the main reason for the rise in consumption, entertainment, and restaurant visits is to combat stress and negative news. “In the new ye... #RetailTradeTurnover #UkraineEconomy #UkraineTradeTurnover
Ukrainian wages have been growing for three quarters in a row, and inflation has fallen below the NBU’s target for the first time in three years. The revival of the economy and the slowdown of inflation have both contributed to the recovery of the growth in real wages since the second quarter of 2023. According to the National Bank of Ukraine, ... #InflationinUkraine #nbu #SalaryUkraine #UkraineEconomy
Several key economic sectors in Ukraine expect to reduce the number of employees. According to NBU data, industrial enterprises are predicting a deterioration in the results of their economic activity for the second month in a row. The reasons for this are a decrease in the volume ... #JobInUkraine #UkraineEconomy #UkraineLaborMarket #UnemploymentUkraine
Capitalization of agricultural holdings decreased by almost €2B. Agricultural holdings’ capitalization decreased during the IV quarter of 2023 compared to the same period in 2022. According to experts, this is related to the internal situation in these compan... #AgroBusinessUkraine #AgroholdingAstarta #KernelGroup #MHPAgroholding #UkraineEconomy
Ukraine and Japan are increasing their trade volume and planning to cooperate in renewable energy. Trade between the countries averaged $1.5B per year. At the beginning of the full-scale invasion, trade volume decreased to half of the current indicator. Still, in 2023 it increased, approaching almo... #JapanandUkraine #RenewableEnergy #SerhiyKorsunskyi #UkraineEconomy #UkraineTrade
Analysts believe that the Ukrainian economy performed surprisingly well in 2023. As noted in the Atlantic Council, in the fall of 2022 Ukraine was forced to print money, and in December 2022, inflation rose to 27%. However, the budget deficit was offset with $40B of international ... #CurrencyMarket #financeUkraine #UkraineBudget2024 #UkraineEconomy #Ukraineinternationalreserves
Ukrainian IT exports began to grow at the end of the year. According to the NBU, in November 2023 Ukrainian IT companies exported services worth $564M, $35M more than in October, and $43M more than in September 2023. However, compared to November 2022 ($580M)... #ITexport #UkraineEconomy #UkraineITexport #UkrainianITcompany
What will the exchange rate be at the beginning of the year? At the start of 2024, the average exchange rate of the dollar may be in the range of ₴37.90-₴38.40, and the average exchange rate of the euro ₴42.10-₴42.60, analysts from the Center of Exchange Techno... #financeUkraine #hryvniaexchangerate #nbu #UkraineEconomy
Businesses in Ukraine have downgraded their expectations for business activity. In December 2023, for the third month in a row, Ukrainian businesses have provided their restrained estimates of their current activity’s results. The Business Activity Expectations Index (BAEI) was 4... #BusinessExpectation #nbu #UkraineBusinessActivity #UkraineBusinessExpectation #UkraineEconomy #бізнесвУкраїні
The IMF says it will help Ukraine attract additional revenues to its budget. The IMF is focused on supporting the work of the Ukrainian state and its social obligations, and not on the military sphere, said Alfred Kemmer, director of the European Department of the IMF. “... #AlfredKemmer #financialaidforUkraine #imf #UkraineBudget2024 #UkraineEconomy
The Minister of Finance summarized this year’s budget financing and outlined the prospects for the following years. In 2023, Ukraine attracted $42B through external financing just to cover budget needs and support a record amount of borrowing on the domestic market, Minister of Finance Serhiy Marchenko said. This a... #financialaidforUkraine #SerhiyMarchenko #UkraineBudget2024 #UkraineEconomy #UkraineFacility
Ukrainians think that the country’s economic condition has worsened. In December, assessments of the economic situation in Ukraine worsened, and optimism about the country’s economic situation in the medium-term perspective also decreased. It is noted that Ukrain... #EconomicConditionUkraine #financeUkraine #UkraineEconomicForecast #UkraineEconomy
The government and the NBU predict an increase in the cost of living in Ukraine. The head of the NBU, Andriy Pyshnyi, said that product prices will rise sharply at the beginning of January. For the first month of the year, growth will be, on average, 5%. As for causes, first, the ... #AndriiPyshnyi #InflationinUkraine #nbu #pricesinUkraine #SerhiyMarchenko #UkraineEconomy
The opening of negotiations with the EU has a positive economic effect on Ukraine, but economic relations with Poland must be restarted. “Asian countries have begun to turn more to Ukraine regarding the opportunities our country’s EU membership creates for their investors,” said the Ukrainian Minister of Foreign Affairs, Dmytro K... #DmytroKuleba #EuropeanIntegration #InvestmentsinUkraine #UkraineEconomy #UkraineEU
The government presents the largest investment projects in the Dnipropetrovsk region. Minister of Economy Yulia Svyridenko has described investment projects by large companies in the Dnipropetrovsk region. Interpipe is implementing three projects, the largest of which is constructing a... #ArcelorMittal #Biosphere #BusinessInvestments #InterpipeUkraine #UkraineEconomy #YuliyaSvyridenko
The government has issued a three-year forecast of Ukraine’s economic and social development: What will happen to GDP, inflation, and salaries? Next year, GDP will grow by 4.6%, in 2025, the growth rate will accelerate to 6.8%, and in 2026, it will slow to 6.6%. The growth of consumer prices (inflation), comparing December to December of the ... #GDPinUkraine #InflationinUkraine #SalaryUkraine #UkraineEconomicForecast #UkraineEconomy
