The National Bank of Ukraine (NBU) has held an express stress test in order to assess the impact of the current crisis on banks. It assessed the impact on capital of 26 large banks with the share of assets of the entire banking system of 91%. The stress test results proved to be in general … Read more
The fall in Ukraine’s real gross domestic product (GDP) in 2020 may be deeper than expected in the April forecast of the National Bank of Ukraine (NBU), that is, below the 5% level, the regulator’s website reports. “The available data indicate that the fall following the results of the year is likely to be deeper … Read more
The Cabinet of Ministers has said that a drop of Ukraine’s GDP in 2020 could be up to 8% compared to 2019, according to the updated government action plan. “Ukraine is traditionally more vulnerable to economic shocks, and therefore could feel a more significant impact: GDP may fall by 4-8% compared with 2019,” the government … Read more
The Board of the National Bank of Ukraine (NBU) has decided to cut the key policy rate from 8% to 6% effective, the NBU said on its website on Thursday. “Consumer and investment demand is most likely to remain subdued for longer than forecast in April. On the one hand, this will keep inflation below … Read more
Ukraine’s economy will shrink by 3.5% in 2020 due to the coronavirus-related crisis, while the global economy will lose 5.2% overall, the World Bank announced this in the updated Global Economic Prospects on Tuesday. “The depth of the contraction will depend on the duration of the health crisis, progress on major pending reforms, and the … Read more
Fitch Ratings has revised the Outlook on Ukraine’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to Stable from Positive and affirmed the IDR at ‘B’. “The revision of Ukraine’s Outlook to Stable reflects the significant impact of the COVID-19 pandemic… The heightened macroeconomic and fiscal risks associated with this unprecedented global shock will partially reverse Ukraine’s … Read more
The Board of the National Bank of Ukraine has decided to cut the key policy rate from 10% to 8%, the NBU said in a statement on Thursday. “Together with other measures taken by the NBU, such as expanding its set of liquidity support tools and the introduction of preferential terms for borrowers by banks, … Read more
Ukraine’s GDP decline in 2020 will amount to 4.2% instead of the growth of 3.2% expected in October last year, such an updated consensus forecast was released by the Ministry of Economic Development, Trade and Agriculture. “According to experts, Ukraine will show a deeper decline than the global economy, which will be 4.2% in 2020. … Read more
Fitch Ratings has affirmed Ukraine’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at ‘B’, the outlook is positive, the rating agency said on its website. “Ukraine’s ratings balance improved policy consistency and credibility, a record of multilateral support, and low government debt against low external liquidity relative to high financing needs associated with large … Read more
The international rating agency Fitch Ratings expects acceleration of growth of the Ukrainian economy from 3.2% in 2019 to 3.5% in 2020 and 3.8% in 2021 due to private consumption and investment. “According to official estimates, the economy grew by 3.2% in 2019 and Fitch expects growth of 3.5% in 2020 and 3.8% in 2021 … Read more