The National Bank (NBU) could in the near future reduce the rate of mandatory sale of foreign currency earnings for exporters from 50% to 30% or cancel it completely, Deputy Governor of the NBU Oleg Churiy has said. “If we carry out another wave of currency liberalization in the near future, we will remove or … Read more
The growth of consumer prices in Ukraine in 2018 slowed to 9.8% compared with 13.7% in 2017, the State Statistics Service of Ukraine has reported. As reported, the inflation growth rates in the previous years were as follows: 12.4% in 2016, 43.3% in 2015, and 24.9% in 2014. In December last year, inflation was 0.8% … Read more
The National Bank of Ukraine (NBU) has approved and published regulations that are the basis for a new liberal currency regulation system provided for by the law on currency and foreign exchange transactions. According to the NBU’s website, the new currency regulation system consists of eight main decrees of the NBU, which replaced the previous … Read more
The growth of the Ukrainian economy in 2018 will accelerate to 3.5% from 2.5% last year, while next year it will slow down to 2.3% due to a decrease in the fiscal stimulation of the economy and the weakening of foreign markets, ICU Investment Group forecasts. “In 2019, economic growth will slow down due to … Read more
Fitch Ratings has affirmed Ukraine’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook. Fitch said that Ukraine’s ratings balance weak external liquidity, high external financing needs driven by sovereign external debt repayments and structural weaknesses, in terms of a weak banking sector, institutional constraints and geopolitical and political risks, against improved … Read more
S&P Global Ratings affirmed its ‘B-/B’ long- and short-term foreign and local currency sovereign credit ratings on Ukraine. The outlook is stable, S&P has reported. “We expect the new arrangement will aid Ukraine’s efforts to cover sizable external debt obligations maturing next year, and also help to anchor macroeconomic policies through the 2019 presidential and … Read more
Fitch Ratings has affirmed the Ukrainian City of Kyiv’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘B-‘, Fitch Ratings said in a press release on September 21. Simultaneously Fitch has upgraded Kyiv’s National Long-Term Rating to ‘A(ukr)’ from ‘A-(ukr)’. The Outlooks are Stable. Fitch said that the upgrade of the National Rating reflects … Read more
Ukrainian President Petro Poroshenko has signed a bill amending the Tax Code o Ukraine regarding some issues of taxation of transactions to export oilseeds with VAT. According to a posting on the website of Ukraine’s Verkhovna Rada, bill No. 7403-d was returned to the parliament on August 30, 2018. The bill says that the annulment … Read more
Easing inflationary pressures, moderating economic imbalances and declining debt support Ukraine’s sovereign credit profile, but IMF program delays remain a source of uncertainty, Fitch Ratings has said. “The program is a key factor for sovereign creditworthiness, as it mitigates low external liquidity and reduces refinancing risks,” a report on the agency’s website reads. “Increased exchange … Read more
Ukraine’s Verkhovna Rada did not support clarification to the recently adopted law of Ukraine on strengthening creditors’ rights (bill No. 6027-d “On Amending Certain Legislative Acts of Ukraine Regarding Renewal of Crediting”). Only 203 lawmakers voted for the measure, 13 fewer than the required minimum of 226 votes. “According to Article 131 of parliament’s regulations, … Read more