Ukraine’s real GDP in the first quarter of 2023 increased by 2.4% compared to the fourth quarter of 2022, according to Economy Minister Yulia Svyrydenko. “Such data indicates that the economy of Ukraine is adapting and recovering at a faster pace than previously predicted. It continues to work and overcome the challenges of war,” said … Read more
The European Union will gradually lift its ban on imports of certain agricultural products from Ukraine to Poland, Hungary, Romania, Bulgaria, and Slovakia by Sept. 15, the press service of the European Commission has said. The restrictions will be reduced from 17 to 6 tariff lines for four products — wheat, maize, rapeseed, and sunflower … Read more
The International Monetary Fund (IMF) has upgraded real Ukraine’s GDP growth for 2023 to a range of 1% to 3% against the previous range of -3%to +1%, although the outlook remains highly uncertain as the war continues, IMF’s envoy to Ukraine, Gavin Gray, said on May 30. “The Ukrainian economy has shown remarkable resilience – economic activity … Read more
The Russians had stolen about 4 million tons of grain from Ukraine, the Ukrainian Grain Association (UGA) estimated. States under sanctions are the buyers of the stolen grain are the countries under sanctions. But even they are wary of grain stolen from Ukraine. However, there was a case when Libya refused to buy stolen grain. … Read more
The National Bank of Ukraine (NBU) has introduced an additional requirement for nonresidents to repatriate interest income received on domestic loan government bonds: the minimum continuous period of investor ownership of this government bond is at least the last 90 calendar days in a row until interest is received. “This will help prevent premature repatriation … Read more
The Cabinet of Ministers has improved its forecast for Ukraine’s GDP growth in 2023 to 3.2%, Ukrainian Finance Minister Serhiy Marchenko wrote in an article about the adaptivity of Ukrainian business, which was published online on May 19. Earlier predictions of economic growth were at 1%. The National Bank of Ukraine recently improved its forecast from … Read more
The European Commission has included Ukraine’s economy in its economic forecasts for the first time, according to the European Economic Forecast, Spring 2023, released on May 17. Along with Ukraine, the European Commission has also assessed the economies of Moldova and Bosnia and Herzegovina, which were also granted candidate status for EU membership. According to the EU Commission’s … Read more
Just as it was about to expire, the Black Sea Grain Agreement has been extended for a further two months, Turkish President Recep Tayyip Erdogan said in a Telegram post on May 17. “With the efforts of our country, the support of our Russian friends, and the contribution of our Ukrainian friends, a decision has been … Read more
President of Türkiye, Recep Tayyip Erdoğan, announced the extension of the Black Sea grain initiative for another two months until July 18. Without the extension, the agreement would have expired automatically on Thursday, May 18. With the efforts of our country, the support of our Russian friends, the contribution of our Ukrainian friends, it was … Read more
The hryvnia forex rate and inflation will improve in Ukraine in 2023, with the economy growing by 3%, analysts from the Dragon Capital investment company said in their updated economy forecast for June. The favorable macroeconomic background and the improvement of the situation on the foreign exchange market create opportunities to return to limited exchange … Read more