Passenger traffic at Odesa Airport decreased by 58% in 2020
In 2020, Odesa International Airport provided air services to almost 700 thousand passengers, which is 58% less than in 2019, Ukrinform reports referring to the airport’s press service.
Economy
Hryvnia exchange rate expected to remain the same this week - experts
During the current week, the dollar exchange rate against the hryvnia is expected to remain unchanged, according to a weekly forecast released by Alpari.
01 February 2021
Ukraine preparing for ‘industrial visa-free regime’ with EU – Economy Ministry
Preparations for the Agreement on Conformity Assessment and Acceptance of Industrial Products (ACAA), the so-called "industrial visa-free regime" with the European Union, were discussed during an interagency meeting at the Ministry of Economic Development, Trade and Agriculture of Ukraine.
Businesses downgraded expectations for economic development – NBU survey
Businesses have significantly worsened their expectations for their performance and business prospects in response to strengthened quarantine measures amid a traditional decline in business activity at the beginning of the year.
Government approves procedure for compensation for electric heating
The Cabinet of Ministers has approved a procedure for paying compensation to people who use electric heating, Prime Minister Denys Shmyhal has said.
Ukraine resumes electricity imports from Russia
Ukraine resumed electricity imports from Russia on February 1, according to data provided by the European Network of Transmission System Operators ENTSO-E.
Pandemic slightly restrains consumer demand growth – NBU
Given strong retail performance, the pandemic insignificantly restrains the growth of consumer demand.
Passenger traffic through Ukrainian airports dropped by almost 65% in 2020
In 2020, the passenger flow through Ukrainian airports decreased by 64.4% compared with 2019, according to the State Aviation Service of Ukraine.
NBU’s Monetary Policy Committee supports moderate increase in key policy rate to 6.5%–7%
Most members of the Monetary Policy Committee (MPC) of the National Bank of Ukraine (NBU) believe that the key policy rate needs to be raised moderately in 2021, to 6.5%–7%.
Ukrgasbank provided UAH 7.7B worth of loans to SMEs in 2020
In 2020, the volume of loans provided by JSB Ukrgasbank to small and medium-sized businesses rose by 50% (or UAH 2.5 billion) and amounted to UAH 7.7 billion, Ukrinform reports referring to the bank’s press service.
Government planning to raise salaries in Ukraine to Poland’s level by 2030 - Shmyhal
Prime Minister Denys Shmyhal has said that the Ukrainian government aims to raise the average salary in Ukraine to the level of Poland or Slovakia by 2030.
30 January 2021
Ukraine, EIB agree to cooperate to improve water supply systems
The Ministry of Communities and Territories Development of Ukraine and the European Investment Bank (EIB) have agreed to cooperate to improve water supply systems in Ukraine.
Zelensky invites Switzerland’s Stadler Rail AG to invest in Ukrainian railways
On Friday, January 29, President of Ukraine Volodymyr Zelensky held a meeting with a delegation of the Switzerland-based company Stadler Rail AG, headed by the president of the Board of Directors, co-owner of Stadler Rail AG group Peter Spuhler.
29 January 2021
IKEA to open its first physical store in Ukraine on Feb 1
The Sweden-based IKEA, the world’s largest retailer of furniture and household goods, has officially announced the opening of a store in Kyiv's Blockbuster Mall on February 1, the company says in a press release.
Ukrainian Startup Fund already financed 86 projects
The Ukrainian Startup Fund (USF) has already financed 86 projects, according to the Fund's press service.
Trade with North Macedonia amounted to USD 96.3M in 2020 – Kachka
Trade turnover between Ukraine and North Macedonia amounted to USD 96.3 million in 2020, Deputy Minister of Economic Development, Trade and Agriculture - Trade Representative of Ukraine Taras Kachka has said.
Ukraine’s tax police to be liquidated within six months
The Verkhovna Rada of Ukraine has passed a law regulating the liquidation of the tax police and the transfer of its powers to the Bureau of Economic Security.
Ukrainian exporters to benefit from establishing joint ventures with Egypt
Ukrainian exporters, interested in entering the Egyptian markets, will benefit significantly from the establishment of joint ventures with localization of production in this country.
Ukraine, Moldova working on amendments to FTA
Ukraine and Moldova held the first round of negotiations on amendments to the intergovernmental Free Trade Agreement (FTA) on January 28, 2021.
Local authorities, Naftogaz agreed not to raise heat tariffs - Zelensky
Ukrainian President Volodymyr Zelensky has said that heat and hot water tariffs in the regions will not be raised.
28 January 2021
UIA plans to resume flights to Georgia from February
Ukraine International Airlines (UIA) plans to resume flights to Tbilisi, Georgia, after the country's authorities decided to lift restrictions on flights from February 1.
IMF mission continues to work with Ukrainian authorities remotely
A mission from the International Monetary Fund (IMF) continues to work with representatives of the Ukrainian authorities remotely, the IMF Resident Representative Office in Ukraine has reported.
Ukraine, Lithuania to cooperate on container transportation increase
Ukraine in cooperation with Lithuania will increase container transportation and plan to liberalize the conditions of bilateral and transit transportation.
Average salary in December 2020 grew by 15.6% - statistics
The average nominal salary of Ukrainians in December 2020 was 15.6% higher than the one they received in December 2019 and amounted to UAH 14,179, the State Statistics Service has reported.
Parliament adopts law establishing Economic Security Bureau
The Verkhovna Rada of Ukraine has passed at second reading and as a whole the draft law on the establishment of the Bureau of Economic Security of Ukraine (No.3087-d) which, among other things, provides for the transfer of investigation of economic crimes from the Security Service, State Fiscal Service, State Bureau of Investigation to the newly created body.
Yuriy Husiev, Director General of Ukroboronprom
Ukroboronprom's transformation will become a driver of Ukraine's economic development
Vitrenko: Ukraine's gas market needs government intervention
The situation in Ukraine’s gas market, which is largely controlled by oligarchs in the network of regional suppliers, needs government intervention.
27 January 2021
Georgia resumes regular flights to Ukraine
Ukraine’s SkyUp Airlines will launch flights on the Kyiv-Tbilisi-Kyiv route twice a week from February 4, the Georgia Online portal reports.
Heating and hot water tariffs will not increase until end of heating season – Shmyhal
Heating and hot water tariffs will not increase until the end of the heating season, Prime Minister of Ukraine Denys Shmyhal has said.
Urusky, Kvien discuss military-technical cooperation between Ukraine and United States
Deputy Prime Minister and Minister for Strategic Industries of Ukraine Oleh Uruskyi and Chargé d'Affaires of the United States in Ukraine a.i. Kristina Kvien discussed the issues of military-technical and industrial cooperation between Ukraine and the United States during an online conversation.
NBU warns of risks of cooperation with citizens subject to U.S. sanctions
The National Bank of Ukraine (NBU) has informed banks about the risks of cooperation with Ukrainian citizens who have recently been sanctioned by the United States, including Ukrainian MP Oleksandr Dubinsky.
Ukraine aims to develop cooperation with OECD
Ukraine looks forward to continued cooperation within the Investment Committee of the Organization for Economic Co-operation and Development (OECD) and its working bodies, as well as to participation of the OECD mission in Ukraine to review the regulatory policy.
Kryklii, Maasikas discuss conclusion of common aviation area agreement
Minister of Infrastructure of Ukraine Vladyslav Kryklii expects that the Common Aviation Area Agreement between Ukraine and the European Union will be signed in the near future.
26 January 2021
Ukraine’s regional development agencies to receive UAH 58.8M of state support
Ukraine’s Regional Development Agencies (RDAs) will receive UAH 58.8 million worth of state support for the implementation of nine projects within the sectoral budget program of the Ministry of Communities and Territories Development.
Great Construction program: 12 social facilities built and reconstructed in Kherson region last year
A total of 12 social facilities have been built and reconstructed in Kherson region as part of the Great Construction 2020 program, the press service of Kherson Regional State Administration reports.
Kryklii: International air travel may fully recover in 2023
International air travel may fully recover in 2023 if the situation in 2021 is predictable.
National Economic Strategy 2030 provides support for small and medium-sized businesses – Petrashko
The National Economic Strategy of Ukraine until 2030 provides support for small and medium-sized businesses, including expanding access to finance and simplifying the regulatory environment.
Ministry of Digital Transformation to present new digital products in April - Fedorov
The Ministry of Digital Transformation of Ukraine will launch new digital products during the Diia Summit in April 2021, Deputy Prime Minister and Minister of Digital Transformation of Ukraine Mykhailo Fedorov has written on his Telegram channel.
Ministry of Culture to suggest creating council for creative economy development
The Ministry of Culture and Information Policy of Ukraine will propose to create a council for the creative economy development at the Cabinet of Ministers.
25 January 2021
Ukraine's exports to Vietnam grew by 92% last year – Kachka
In 2020, Ukrainian exports to the Socialist Republic of Vietnam (SRV) increased by 92%, to USD 184.5 million. The countries agreed to resume work on a free trade agreement (FTA).
IFC's entry into Ukrgasbank's authorized capital an important indicator for investors - PM
The entry of the International Finance Corporation (IFC) into the authorized capital of Ukraine's state-owned bank Ukrgasbank is a big step to reduce the role of the state in the economy and will be an important indicator for investors, according to Prime Minister Denys Shmyhal.
IFC will provide Ukrgasbank with EUR 30M loan - Zelensky
The International Finance Corporation (IFC) will provide a EUR 30 million loan to Ukrgasbank with the possibility of its further conversion into the authorized capital, according to Ukrainian President Volodymyr Zelensky.
Ukraine’s average pension as of Jan 1 was UAH 3.5 thousand
The average pension in Ukraine as of January 1, 2021 amounted to 3,507 hryvnias and 51 kopecks, according to the Pension Fund’s website.
President's Office expects economic growth in Ukraine this year
The Ukrainian economy will begin to recover in 2021 due to positive trends in foreign markets and monetary policy of the National Bank of Ukraine (NBU).
23 January 2021
Ukraine, China plan to intensify regional cooperation between capitals
Ukraine and China praise the level of dialogue between the two capitals - Kyiv and Beijing - and plan to intensify regional cooperation.
Acting energy minister: Ukraine should integrate into ENTSO-E
Acting Minister of Energy of Ukraine Yuriy Vitrenko stated that his task will be to integrate Ukraine into the ENTSO-E, the European Network of Transmission System Operators for Electricity.
Ukraine becomes world's second largest grain exporter
Based on the results of 2019-2020 marketing year, Ukraine has become world's second largest grain exporter, trailing only to the United States.
22 January 2021
Ukraine creates all necessary mechanisms to attract investment – Petrashko
Ukraine has created all the necessary mechanisms to attract investment. The task is to implement them, Minister of Economic Development, Trade and Agriculture of Ukraine Ihor Petrashko has said.
Ukraine ranks 120th in financial market development
To date, Ukraine ranks 120th in financial market development among 125 world countries.
UkraineInvest plans to create up to 70 liaison offices this year
The Investment Promotion Office (UkraineInvest) plans to create up to 70 liaison offices around in the world this year and intensify cooperation with the Ukrainian regions.
Ukrainian infrastructure minister, Portuguese ambassador discuss cooperation in aviation, transport
Ukrainian Infrastructure Minister Vladyslav Kryklii has held a working meeting with Ambassador of Portugal to Ukraine Antonio Vasco Alves Machado during which the parties discussed prospects for cooperation between the two countries in various infrastructure areas, including aviation and transport, according to a statement posted on the website of the Ukrainian Infrastructure Ministry.
Ukraine supports joint statement of WTO members relating to World Food Programme
WTO members will not impose export prohibitions or restrictions on foodstuffs purchased for non-commercial humanitarian purposes by the World Food Programme.
Ukraine outlines energy development priorities for coming years
Ukrainian economic recovery and energy sector reform are in line with the European Green Deal, Deputy Energy Minister of Ukraine Yaroslav Demchenkov said at the 11th session of the IRENA Assembly.
21 January 2021
Ukraine, Saudi Arabia discuss development of agricultural cooperation
The first meeting of the Ukrainian-Saudi working group on trade and investment relations in agriculture took place in Kyiv.
NBU governor predicts growth of international reserves to USD 30B
The National Bank of Ukraine (NBU) expects funding from the International Monetary Fund (IMF) and other partners to increase Ukraine's international reserves up to USD 30 billion, despite significant external debt repayments.
National Bank keeps discount rate at 6%
The National Bank of Ukraine (NBU) has decided not to change the discount rate and leave it at the level of 6%, NBU Governor Kyrylo Shevchenko says.
Economic Development Ministry: Protection of domestic producers does not contradict WTO agreements
The draft law on the protection of Ukraine's national economic interests, which was approved by the Cabinet of Ministers on January 20, does not contradict Ukraine's international agreements in the trade and economic sphere.
Ukrainian govt assures that heating and hot water tariffs will not increase
Prime Minister of Ukraine Denys Shmyhal has instructed to prepare a draft memorandum of understanding on the settlement of problematic issues in the sector of centralized heating and hot water supplies in Ukraine.
20 January 2021
EBRD invests EUR 812M in Ukraine amid COVID-19 crisis
The European Bank for Reconstruction and Development (EBRD) provided Ukraine with EUR 812 million of investment in the context of the COVID-19 crisis.