Ukrainians residing abroad continue to contribute significantly to the currency outflow; however, a 28% reduction is anticipated in 2024, decreasing from $18 billion to $13 billion, NBU deputy chief Serhiy Nikolaychuk said during a press briefing on Jan. 25. “In 2022, this outflow was nearly $20 billion. Last year, it slightly decreased to around $18 billion,” he said. … Read more
Warsaw and Kyiv are getting ready to begin technical negotiations on export licenses for Ukrainian agricultural produce entering Poland, public broadcaster Polskie Radio 24 reported on Jan. 23. The talks will begin in a few days and will hopefully put an end to the months-long trade dispute between the two countries, Polish Agriculture Minister Czeslaw … Read more
Ukrainian banks are facing growing difficulties in meeting financial obligations has, parliamentary Finance Committee Chairman Danylo Hetmantsev said on Telegram on Jan. 17. “According to the National Bank of Ukraine (NBU), as of Jan. 1, 2024, the regulatory capital adequacy ratio of banks decreased to 21.1% from 25.4%, as of Dec. 1, 2023,” he said. … Read more
The World Bank has improved its growth estimate for Ukraine’s Gross Domestic Product (GDP) in 2023 to 4.8% from 2% and predicts a slowdown in recovery to 3.2% in 2024, according to a new World Bank Group Flagship report released in Jan. 2024. Ukraine’s economic prospects remain quite uncertain, though after a slowdown in 2024, … Read more
The privatization of state-controlled banks, the number of which has increased to five, and the market share in terms of assets to 56% based on the results of January-September 2023, can begin even before the end of the war, First Deputy Governor of the National Bank of Ukraine (NBU) Kateryna Rozhkova has said. “If some … Read more
The new Ukrainian sea corridor created by the Ukrainian Navy has ensured the export of almost 15 million tonnes of products since August 2023, 10 million tonnes of which are agricultural products, Deputy Prime Minister for Reconstruction of Ukraine, Minister of Communities, Territories and Infrastructure Development Oleksandr Kubrakov has said. “Over the five months the … Read more
The full-scale Russian invasion of Ukraine has cost the country a third of its GDP, National Bank of Ukraine (NBU) chairman Andriy Pyshnyi in an interview on Ukrainian TV channel We are Ukraine on Jan. 7. “Ukraine’s critical dependence on international financial assistance remains,” noted Pyshnyi. “This source is fundamentally important for us, as the … Read more
The National Bank of Ukraine (NBU) is confident in the lawfulness of the decision to withdraw the systemic Sense Bank (formerly Alfa-Bank, Kyiv) from the market, since it was adopted in strict accordance with the laws “On the National Bank of Ukraine,” “On Banks and Banking Activities,” “On the Household Deposits Guarantee System,” the NBU … Read more
Ukraine saw a significant drop in inflation accompanied by robust economic growth in 2023, Andriy Pyshnyi, the Ukrainian National Bank’s (NBU) head, said in an interview with the “We are Ukraine” YouTube channel on Jan. 6. “At the beginning of the year, inflation was 26%, the forecast predicting zero economic growth, immense uncertainty, and a … Read more
Exports through the Black Sea corridor introduced by Ukraine amounted to about 13 million tons at the end of December, compared to 7 million tons at the beginning of December Ukraine’s minister for restoration Oleksandr Kubrakov says since August, 13 million products have been exported through Ukrainian ports by 400 vessels to 24 different countries. … Read more