The total volume of loans granted under the Affordable Loans 5-7-9% program increased by 2% in the fourth quarter of 2023 and by 34% for the entire year, according to the Banking Sector Review for February. It is noted that during the year, the volume of loans increased the most in the field of trade … Read more
Ukraine said it’s planning an additional route via the Danube River to boost exports to pre-war levels as a spat with Poland over agricultural deliveries blocks a land border with the European Union. The Danube became a priority avenue for Ukrainian supplies after Russia exited a United Nations-backed safe corridor in the Black Sea last … Read more
As specified by the Ministry of Finance, as of December 31, 2023, Ukraine’s state and state-guaranteed amounted to $145.3B, which is comprised of external debt – $101.7B (69.99% of the total amount) and internal debt – $43.6B (30.01%). Regarding creditors, the lion’s share of the debt falls on soft loans received from international financial institutions … Read more
Representatives from political parties in the Czech Republic, including opposition parties, together with the country’s Agrarian Chamber, have agreed on the possibility of introducing customs duties in the form of deposits, which will be distributed to agricultural products imported from Ukraine to the EU. Deposits will be returned to importers if grain is sent from … Read more
In 2023, Ukrainian banks produced almost ₴160B in pre-tax profit, 100% more than before the start of the full-scale invasion. Banks will have to pay a tax of half their total profit – more than ₴73B. At the same time, the profit is still 12% higher than before the start of the full-scale invasion. At … Read more
The National Bank of Ukraine intends to trial the digital hryvnia this year, and banks have already been invited to join the pilot program. The director of the Department of Payment Systems and Innovative Development of the National Bank of Ukraine, Andriy Poddieryohin, announced this in the “Chronicles of the Economy” podcast. In February 2022, … Read more
The growth of Ukraine’s GDP in 2024 will slow to approximately 4% from almost 6% in 2023, with an increase in inflation to 8% from 5.1% last year. At the end of the year, the exchange rate will be ₴39 for $1. The founder of the Dragon Capital investment company, Tomas Fiala, announced the forecast … Read more
The Cabinet of Ministers of Ukraine appealed to the National Bank of Ukraine (NBU) with a request to allow the sale of currency to large Ukrainian companies and holdings and its further transfer for settlements on eurobonds and with Western creditors. The corresponding applications for individual permits for cross-border transfers of currency values are formalized … Read more
In January 2024, Ukraine exported the most goods to Poland ($334M), despite Polish farmers blocking the border. According to customs data, January’s top three export partners also included Spain ($322M) and China ($305M). In total, Ukraine exported goods worth $3.4B in January. The main items of export are food products ($2.2B), metal products ($362M), and … Read more
The UK will support Ukrainian business by extending tariff-free trade for another five years until 2029, the UK Department for Business and Trade said in a statement on Thursday. According to it, UK Trade Minister Greg Hands and First Deputy Prime Minister, Minister of Economy of Ukraine Yulia Svyrydenko will sign the document at a … Read more