Most members of the monetary policy committee of the National Bank of Ukraine (NBU) see the possibility of lowering the refinancing rate by 1-2 percentage points (p.p.) during 2024 from the current 15%, but several of their colleagues believe that it is advisable to keep the rate at the existing level, the central bank published … Read more
The National Bank of Ukraine (NBU) conducted a stability assessment for the 20 largest banks, which collectively have more than 90% of the country sector’s net assets, and identified the need for additional capitalization of five banks, but two of them have already managed to increase capital adequacy to targeted standards following the audit. “Based … Read more
There are around Ukrainian 307,6k IT specialists, with nearly 242 thousand currently located in Ukraine. In general, Ukrainian IT industry provides for 4.9% of the country’s GDP, according IT Research Ukraine. There are a total of 307600 Ukrainian IT specialists. As of August 2023 only 242000 of specialists are currently located in Ukraine. But the … Read more
Andriy Pyshnyi, Head of the Ukraine’s National Bank, linked the recent marginal depreciation of the hryvnia to seasonal influences as he discussed the exchange rate during a press briefing in Kyiv on Dec. 14. “Now we are witnessing a familiar pre-war-time process of seasonality, when the demand for currency increases towards the end of the … Read more
Real gross domestic product (GDP) of Ukraine in the third quarter of 2023 increased by 9.3% compared to the third quarter of 2022, while in the second quarter there was a jump of 19.5% after a fall of 10.5% in the first quarter and 31.4% in the fourth quarter of last year. According to the … Read more
Investment company Dragon Capital has revised its economic growth projection for Ukraine in 2023 to 5.2%, up by 0.7 percentage points, despite external financing risks, the company reported on Dec. 8. The Ukrainian economy’s faster-than-expected recovery is attributed to increased exports through seaports, a stable electricity supply, and better-than-anticipated harvests, according to Dragon Capital’s macroeconomic update. Ukraine exported approximately 4 million tons … Read more
The hryvnia is expected to weaken slightly in 2024, yet the year’s average rate will likely reach 37.3 hryvnias per dollar, compared to 36.5 in 2023, investment company Dragon Capital’s* Chief Economist, Olena Bilan, said at the RAU Summit 2023 in Kyiv on Dec. 5. External support will lead to an increase in the gold and foreign … Read more
Bulgaria has permitted licensed imports of Ukrainian sunflower, rapeseed, corn, and wheat, the Bulgarian Ministry of Agriculture and Food said in a post on its website on Nov. 30. Agriculture ministers Kiril Vatev of Bulgaria and Mykola Solskyi of Ukraine agreed on implementing a licensing regime for the export of these agricultural products during … Read more
The share of non-performing loans (NPLs) in the Ukrainian banking sector as of Nov. 1, 2023 amounted to 37.7%, compared to 37.9% as of Oct. 1, although their total value had actually increased, Ukraine’s National Bank has revealed. “The share of NPLs in the banking sector as of Nov. 1, 2023, was 37.7%, which is … Read more
The auto industry in Ukraine has a future, the state will support its development, in particular, in the near future it plans to launch a program to subsidize interest rates on car loans for the population to purchase cars assembled in the country, Deputy Head of the President’s Office Rostyslav Shurma has said. “What exactly … Read more