Exports of processed products in the agribusiness segment from Ukraine to Russia in 2022 fell by 93.5% compared to 2021, to $3 million from $46 million, while its supplies of similar products to Belarus fell by 86.7%, to $69 million from $520 million. As reported on the website of the Ukrainian Agriculture Export Association (UAEA), … Read more
Throughout 2023, inflation rate in Ukraine will slow down to 18.7%, while real GDP will grow only marginally – by 0.3%, primarily due to expected reduction of national security risks, the National Bank of Ukraine (NBU) said in its January report. The NBU predicts that inflation will slow down in 2023 due to tight monetary … Read more
Exports by Ukraine’s IT industry earned $7.34 billion for the Ukrainian economy in 2022, the IT UkraineAssociation reported on Jan. 31, referring to data from the National Bank of Ukraine. According to the agency, the industry’s volume of exports export increased by $400 million compared to the pre-war year 2021. “The figure of more than $7 billion … Read more
Russia’s seaborne oil flows look as if they are moving higher in January 2023, the BlackSeaNews news portal wrote on Jan. 29, quoting the monitoring group of the Institute of Black Sea Strategic Studies. According to preliminary estimates by experts, sea exports of Russian crude oil from the Black Sea in January 2023 will increase significantly. “Russia … Read more
The National Bank of Ukraine (NBU) has improved its inflation forecast for 2023 to 18.7%, down from from 20.8%, the press office of the central bank said on Jan. 26in a report on the financial situation in Ukraine. Tight monetary conditions, global inflation declines and weaker consumer demand amid regular power outages will contribute to the … Read more
Ukraine’s economy has shrunk by more than 35% in 2022 due to Russia’s full-scale invasion of Ukraine, reads the UN World Economic Situation and Prospects 2023 Report presented by Under-Secretary-General for Economic and Social Affairs Li Junhua on Jan. 25. The UN recorded a monthly budget deficit of $5 billion in Ukraine over the last … Read more
The total amount of documented direct damage to Ukraine’s infrastructure caused by the full-scale war with Russia is estimated at $137.8 billion (replacement cost) as of December 2022, a study by the Kyiv School of Economics published on Jan. 24 has found. Compared to the latest estimates as of November 2022, the total amount of losses has … Read more
Fitch Ratings has affirmed Ukraine’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘CC,’ the agency reported on Jan. 20. “The affirmation of Ukraine’s Long-Term Foreign-Currency IDR at ‘CC’ reflects Fitch’s view that a further foreign-currency commercial debt restructuring is probable, given the magnitude of economic damage from the war with Russia and resulting large fiscal needs in … Read more
Fixing the hryvnia exchange rate has been and remains the main factor in keeping inflation under control, but this was achieved through a set of steps, including raising the key policy rate to 25%, Director of the NBU’s Monetary Policy and Economic Analysis Department Volodymyr Lepushinsky has said. “Controlled inflation, which at the end of … Read more
The total direct damage caused to the agricultural industry of Ukraine due to the full-scale Russian invasion amounted to $9.3-9.8 billion by the end of 2022. As reported on the website of the National Academy of Agrarian Sciences of Ukraine (NAAS), this figure includes damage from the blockade of Ukrainian seaports and forced changes in … Read more