Despite significant losses, the Ukrainian economy has displayed a resilient trend of growth since the beginning of 2023, Ukraine’s Economy Ministry has said. The ministry initially projected a GDP growth of 3.2%. However, due to the sabotage of the Kakhovka dam by Russian forces, the forecast was revised to 2.8%. As it turns out, those … Read more
The National Bank of Ukraine (NBU) is reducing its discount rate, the rate by which banks pay to borrow money from the central bank, to 22%, NBU Chairman Andriy Pyshnyy said on July 27. “A rapid slowdown in inflation and a stable situation on the foreign exchange market enables the beginning of a cycle of … Read more
Ukraine’s real GDP growth in the second quarter of 2023 reached 20-21% compared to the second quarter of 2022, according to the leading researcher of the Institute of Economic Research and Political Consultation (IED), Oleksandra Betlii. “There has been rapid growth so far. But there will be a significant slowdown in the second half of … Read more
The performance of the Ukrainian economy continues to significantly exceed expectations thanks to uninterrupted inflows of international financial assistance and growth may exceed 5% this year, according to the economic forecast of the Investment Capital Ukraine financial group released on July 25. On the demand side, GDP growth is supported by household consumption. A gradual … Read more
The potential non-return of 2.8 million working-age women refugees to Ukraine could severely impact the country’s economy, costing it 10% of pre-war GDP, Bloomberg reported on July 24. Citing Russian economist Alexander Isakov, Bloomberg writes that the worst-case scenario could mean that the Ukrainian economy could lose up to $20 billion in annual output. The … Read more
Inflation in Ukraine has significantly slowed, reaching its lowest rate since the commencement of the full-scale war – standing at 12.8% in June 2023 year-over-year, the Institute for Economic Research said in its latest monthly economic monitoring report. Prices in June remained stable at the level of May, except for the increase in energy prices. … Read more
The government of Ukraine on July 21 made a decision on state participation in the withdrawal of the systemically important JSC Sense Bank from the market in order to ensure the stability of the country’s financial system and protect the interests of depositors and other creditors of the bank, the Ministry of Finance said. “Nationalization … Read more
The National Bank of Ukraine (NBU) has decided to withdraw Sense Bank (formerly Alfa-Bank) from the market and turned to the government with a proposal to nationalize it, NBU Governor Andriy Pyshnyy said. “The board of the National Bank … decided to withdraw the systemically important Sense Bank from the market and made a proposal … Read more
Ukrainian wine exported to 49 countries in 2022 received 37 awards at international exhibitions, at the same time, for further economic development, viticulture needs legislative changes, Minister of Agrarian Policy and Food Mykola Solsky said at a meeting with representatives of the wine market. “The wine industry suffered significant losses due to a full-scale war. … Read more
The negative balance of Ukraine’s foreign trade in goods in January-May 2023 increased 9 times compared to the same period in 2022, to $8.975 billion from $1.004 billion, the State Statistics Service reported on Friday. According to its data, the export of goods from Ukraine over the specified period compared to January-May 2022 decreased by … Read more