The reduction of the key policy rate from 14.5% to 13.5% at the meeting of the Monetary Policy Committee (MPC) of the National Bank of Ukraine on April 24 was supported by eight of its members, while three suggested lowering it to 13%, according to the NBU’s published results of the MPC members’ discussion on … Read more
The National Bank of Ukraine (NBU), previously incorporating into the baseline macroeconomic forecast certain timelines for “significant improvement in security,” has abandoned such an approach. However, instead, it published an alternative scenario in its April Inflation Report, the main difference of which is a slower economic growth in 2025 with a larger budget deficit, depreciation … Read more
The National Bank of Ukraine (NBU) announced on May 3 that it was implementing the largest set of currency liberalization measures since the beginning of the full-scale war. The measures are aimed at decreasing restrictions on businesses and currency controls. Ukraine implemented strict controls over its currency and tightly regulated foreign exchanges in 2022, hoping … Read more
Ukraine’s economy is likely to grow by about 4.6% in 2024, although Russian attacks could worsen this figure, Economy Minister Yuliya Svyrydenko said during the Kyiv Investment Day Forum. Svyrydenko stated that after a large-scale decline in the economy — by almost 30% in 2022 — growth began last year, which amounted to at least … Read more
In April 2024, Ukraine exported over 13 million tons of products, surpassing the figures of February 2022. In monetary terms, last month’s exports reached $3.3 billion, the Ministry of Economy of Ukraine reported. The growth was driven by the opening of an alternative sea corridor, as well as a ship insurance programs and the expansion … Read more
During the first quarter, Ukrainians opened a record number of new sole proprietorships. According to the Unified State Register, from January to March 2024, 74,050 individual entrepreneurs appeared in Ukraine, the Opendatabot platform reported. This is 33.6% more than the same period last year and 18% more than before the start of the full-scale invasion in … Read more
In April 2024, more than 5,700 new cars were registered in Ukraine. This is 11% more than last year. However, compared to March, consumer activity in the car market fell by 14%, reports Ukrautoprom. The most popular passenger car model in Ukraine remains the Renault Duster crossover (484 units sold), and the Toyota brand as … Read more
The government has taken another step towards launching insurance for Ukrainian enterprises against military risks by making corresponding amendments to the charter of the Export Credit Agency (ECA). “Changes have been made to the charter of the Export Credit Agency. This is the second of two subordinate government regulations without which this mechanism will not … Read more
Ukraine and the United Arab Emirates have finalized a bilateral trade agreement that lays the foundation for deepening investment and trade between the two countries, Ukraine’s Economy Ministry announced on April 29. The agreement was signed by Economy Minister Yulia Svyrydenko and the UAE’s Foreign Trade Minister Thani bin Ahmed Al Zeyoudi on April 26 … Read more
The Ministry of Economy of Ukraine estimated the growth of the gross domestic product in March at the level of 4.6% +/- 1%, announced the Department of Strategic Planning and Macroeconomic Forecasting in the monthly overview of the main events in the Ukrainian economy. This is more than in January (3.5%) or February (3.9%). In general, … Read more