Food giant Nestlé has announced the launch of a construction project on a new production site in Ukraine’s Volyn Oblast, following a CHF 40 million ($44.6 million) investment announced in December 2022. The factory, set to commence operations in the first quarter of 2024, will be located near an existing Nestlé distribution center that has been operating … Read more
The USAID Competitive Economy Program has launched a grant program to create and support associations of enterprises in export alliances with a total funding of $1.5 million, the Ministry of Economy reported on May 12. The program is designed to support businesses that seek to jointly promote their products in international markets. “Given the blocking of Ukrainian exports and … Read more
PrivatBank, one of Ukraine’s largest banks, posted a net profit of UAH 30.2 billion ($817 million) for 2022 – during the first year of Russia’s full-scale invasion, the bank said in a report on May 12. The bank’s financial statements were audited by an independent external auditor. According to the report, the bank’s dividends to be … Read more
The Cabinet of Ministers has updated the list of priority thematic areas of scientific research and scientific and technical developments, taking into account the needs of the period of martial law and the restoration of Ukraine from the consequences of the war. “The updated list contains more than 60 areas, united in six priority sectors … Read more
The International Monetary Fund (IMF) plans to conduct the first review of the Extended Fund Facility (EFF) program for Ukraine in the second half of May, IMF Director of Strategic Communications Julie Kozack told the Ukrinform news agency on May 11. According to Kozack, the work of the Fund’s representatives will focus on the fulfillment of Ukraine’s political commitments … Read more
The growth of consumer prices in Ukraine in April 2023 slowed down to 0.2% from 1.5% in March, while 0.7% in February and 0.8% in January, the State Statistics Service has said on Wednesday. However, inflation of 3.1% was recorded in April 2022, therefore, year-on-year, in April 2023, it decreased to 17.9% from 21.3% in … Read more
Inflation in Ukraine was 0.2% In April 2023, down from 1.5% in March, 0.7% in February, and 0.8% in January, according to an express report by the State Statistics Service published on May 10. The core inflation rate also fell to 0.5% in April, down from 1.5% in March, returning to February’s level. Compared to April last … Read more
The European Parliament has given the green light to suspending EU import duties on Ukrainian exports of agricultural products for another year to support the country’s economy, the agency said in a press release on May 9. The relevant decision was backed by 537 MEPs, with 42 against and 38 abstentions. According to EU officials, the suspension … Read more
The European Parliament has voted to extend duty-free trade with Ukraine for an additional year to provide support to the Ukrainian economy during Russia’s war. Radio Svoboda correspondent Rikard Jozwiak reported on Twitter that at the plenary session on May 9, parliamentarians supported continuing tariff-free trade with Ukraine by 537 votes in favor, while 42 … Read more
Ministries of Infrastructure and Transport of Lithuania and Ukraine have agreed to jointly develop new secure railway cargo and passenger logistics via a 1,524 mm (5 ft) gauge rail line, Ukraine’s state rail transportation company Ukrzaliznytsia reported on May 9. The FREE Rail programme aims to develop closer cooperation in railway transportation and increase the capacity and interoperability of … Read more