The Polish Agriculture Ministry plans to propose charging 8% VAT on Ukrainian vegetable oil and capping sugar imports from Ukraine to Poland, Polish Deputy Agriculture Minister Michal Kolodziejczak said in an interview with TVP Info. Poland’s Agriculture Ministry is analyzing data, including what amount of frozen raspberries was delivered from Ukraine and Poland this year, … Read more
Ukraine exported 12 million metric tons of goods in January 2024, reaching a monthly record level since the beginning of Russia’s full-scale invasion in February 2022, the Economy Ministry announced on Feb. 5. According to the statement, in the pre-war January of 2022, Ukraine exported just 2 million metric tons more. “We are very close … Read more
The Ukrainian sea corridor created by the Ukrainian Navy since August 2023 has ensured the export of almost 20 million tonnes of products, including 14.3 million tonnes of agricultural products, the Ministry for Communities, Territories and Infrastructure Development of Ukraine said, citing Deputy Prime Minister for Restoration of Ukraine Oleksandr Kubrakov. “During the six months … Read more
The export of IT services demonstrated an unprecedented decline in both volume and share of total exports in 2023, reported IT Ukraine Association on Feb. 1. IT industry generated $6.7 billion in revenue for the Ukrainian economy, which is 8.5% or $622 million less than in 2022. While remaining the country’s largest exporting industry, IT sector reduced its share in total service exports to 42%, compared to 45.3% … Read more
The European Commission has officially proposed to extend the suspension of import quotas and duties for Ukrainian exports to the EU for another year while including safeguards for agricultural products as demanded by several EU countries. The President of the European Commission, Ursula von der Leyen, stated this, the European Pravda reported. The publication noted … Read more
Since the start of Russia’s full-scale invasion, Ukraine’s national debt has increased by 102%, said the Ministry of Finance. As of Dec. 31, 2023, state and state-guaranteed debt amounted to UAH 5.5 trillion ($145 billion). Roughly 70% of this figure represents external debt, while the remaining 30%, or UAH 1.67 trillion ($43.6 billion) is domestic … Read more
Spain is ready to promote Ukrainian agricultural exports and is interested in importing Ukrainian agricultural products, in particular corn and sunflowers, Minister of Agriculture, Fisheries and Food of Spain Luis Planas Puchades at an online meeting with Minister of Agrarian Policy and Food of Ukraine Mykola Solsky on Monday. According to the press service of … Read more
The total public debt of Ukraine in 2023 increased to a new historical maximum: in dollar terms – by $33.9 billion, or 30.4% – to $145.32 billion, in hryvnia terms – by UAH 1.444 trillion, or 35.4%, up to UAH 5.520 trillion, according to data on the website of the Ministry of Finance. According to … Read more
The NBU has reduced its forecast for Ukraine’s international currency reserves by the end of 2024, the bank stated in a press conference. “International assistance will remain the main source of capital inflows to the country in the future.” At the same time, NBU notes that future assistance will be enough to maintain a sufficient … Read more
The National Bank of Ukraine (NBU) has decided to maintain the key interest rate at 15%, with an expectation of a gradual reduction starting in the second half of 2024, the NBU press service said on Jan. 25. “This decision comes along with the need to maintain exchange rate sustainability, keep inflation moderate in 2024, … Read more