Japan’s largest payment system entering Ukrainian market
JCB, the largest payment system of Japan, is entering the Ukrainian market, Ukrinform reports with reference to the National Bank of Ukraine (NBU).
Economy
31 March 2021
Cabinet of Ministers terminates Ukraine-Russia agreement on tourism cooperation
The Cabinet of Ministers has terminated the agreement between Ukraine and Russia on cooperation in the field of tourism.
NBU updates currency list for official hryvnia exchange rates
The NBU has included the Pakistani rupee in the list of foreign currencies against which it sets the official hryvnia exchange rates once a month, and excluded the Ghanaian cedi and the new Taiwan dollar from this list.
Ukraine, Croatia preparing for next meeting of joint commission on economic cooperation – Laputina
Ukraine and Croatia are preparing for the next meeting of the Joint Intergovernmental Ukrainian-Croatian Commission on Economic Cooperation, the press service of the Ukrainian Ministry for Veterans Affairs has reported.
World Bank upgrades forecast for this year's GDP growth in Ukraine
The World Bank has upgraded its forecast for the growth of Ukraine's gross domestic product (GDP) in 2021 to 3.8%.
State budget’s expenditures increased by almost 20% - Finance Ministry
In 2020, expenditures of the state budget amounted to UAH 1.29 billion, which is 19.8% more than in 2019, according to the Finance Ministry of Ukraine.
Naftogaz, PGNiG to cooperate on gas production in western Ukraine
Naftogaz has signed a letter of intent with Polish oil and gas company PGNiG to cooperate in gas exploration and operation of gas deposits in western Ukraine, PGNiG's press service has reported.
Finance Ministry expects state budget’s revenues to be UAH 10B above target in Q1 2021
In the first quarter of 2021, revenues of the state budget will exceed the target plan by UAH 10 billion, according to Finance Minister Serhiy Marchenko.
30 March 2021
IMF Resident Representative: Ukraine needs clear plan to reduce fiscal deficit
Ukraine's fiscal deficit must return to pre-pandemic levels as soon as the pandemic ends and the economy recovers.
PM Shmyhal meets with representatives of Turkish business
Ukraine and Turkey have significant prospects in infrastructure, industry and trade sectors, Prime Minister Denys Shmyhal has said at a meeting with representatives of Turkish business in Ukraine.
IMF says preserving inflation targeting, flexible exchange rate a key part of SBA with Ukraine
Preserving the inflation targeting framework and the flexible exchange rate regime is a key part of the Stand-By Arrangement (SBA) with Ukraine, IMF Resident Representative in Ukraine Goesta Ljungman has said in an interview with Interfax-Ukraine.
Apple to launch Independent Repair Provider program in Ukraine
American multinational technology company Apple will launch its Independent Repair Provider program in hundreds of countries, including Ukraine, this year, the company has said in a press release.
Ukraine planning to develop river tourism – Information Policy Ministry
Ukraine is planning to develop the potential of river tourism, Ukrinform reports with reference to the Ministry of Culture and Information Policy.
Government appoints acting head of printing plant for securities’ production
The Cabinet of Ministers of Ukraine has appointed Roman Sereda as acting head of State Enterprise "Polygraph Combine ‘Ukraina’ for securities’ production".
Ukraine planning to export 23.5M tonnes of corn in current MY
Ukraine is planning to export 17.5 million tonnes of wheat and 23.5 million tonnes of corn in the 2020/2021 marketing year (MY), Ukrinform reports with reference to the Ministry for Economy, Trade and Agriculture Development.
Ukraine to develop ‘Diia.Business’ and ‘Diia.Digital education’ projects
SE Ukrainian Scientific Research and Training Center for Standardization, Certification and Quality Problem and the Ministry of Digital Transformation of Ukraine have signed a memorandum on the development of "Diia. Business" and "Diia.Digital education” projects, according to the press service of the Ministry of Digital Transformation.
Average salary in Ukraine grows by almost 16%
In February 2021, the average nominal salary in Ukraine amounted to UAH 12,549, which is 15.7% higher compared with February 2020, according to the State Statistics Service.
National Investment Fund to help improve investment image of state - Shmyhal
An online meeting on the establishment of the National Investment Fund of Ukraine was held on March 29 under the chairmanship of Prime Minister Denys Shmyhal.
UBTA chairman: German-Ukrainian Business Forum promotes close relations between two countries
The German-Ukrainian Business Forum is a key bridge for closer business ties between the two countries, and the Ukrainian Business and Trade Assoсiation (UBTA) is committed to ensure its success.
29 March 2021
NABU places former PrivatBank official on wanted list
The National Anti-Corruption Bureau of Ukraine (NABU) has placed former board chairman at PrivatBank Oleksandr Dubilet on the wanted list, Acting Chairman of the Specialized Anti-Corruption Prosecutor's Office Maksym Hryshchuk has told Ukrinform.
Ukraine begins spring sowing campaign
Ukrainian farmers have started the sowing of early spring crops, according to the Ukrainian Ministry for Economy, Trade and Agriculture Development.
UkraineInvest, Zaporizhzhia CCI to cooperate on attracting investment to the region
The Ukrainian government's investment promotion office UkraineInvest and Zaporizhzhia Chamber of Commerce and Industry (CCI) have discussed the issue of attracting investment to the region, the press service of Zaporizhzhia CCI reports.
UAH 91.3M transferred to accounts of insolvent banks in Feb 2021 - Deposit Guarantee Fund
Since the beginning of 2021, UAH 112.4 million was transferred to the accounts of insolvent banks, including UAH 91.3 million in February, according to the press service of the Deposit Guarantee Fund of Ukraine.
Gas price in April to remain the same – Naftogaz
In April, the gas price for customers receiving gas from NJSC Naftogaz of Ukraine as the supplier of last resort will remain at UAH 6.99 per cubic meter, Ukrinform reports referring to the company’s website.
Ukraine plans to expand geography of food exports
Expansion of the geography of food exports, Ukraine's accession to the HUB system, import of food and dietary supplements, fight against counterfeit products are priority areas of cooperation between the State Service of Ukraine on Food Safety and Consumer Protection and the American Chamber of Commerce in Ukraine.
Reznikov outlines creation of ‘belt of success’ in eastern Ukraine
To restore and develop the economy of Donetsk and Luhansk regions, it is planned to attract four sources of funding with the ultimate goal to create a “success belt” in the region.
Ukraine loses billions annually due to illegal filling stations – Chernyshov
Ukraine loses billions every year due to the activities of illegal filling stations, Minister for Communities and Territories Development Oleksiy Chernyshov has stated at a meeting with the leadership of the Oil and Gas Association of Ukraine and representatives of the filling stations’ network, the ministry’s press service reports.
Kryklii: No reduction in quotas for international road transport permits this year
Minister of Infrastructure of Ukraine Vladyslav Kryklii has assured that there will be no reduction in quotas for international road transport permits in 2021.
27 March 2021
Ukraine, Italy discuss cooperation in digitalization, trade and investment
Deputy Foreign Minister of Ukraine Dmytro Senik held a meeting with Ambassador of the Italian Republic to Ukraine Pier Francesco Zazo, the press service of the Ukrainian Foreign Ministry reports.
26 March 2021
Stefanishyna instructs to start preparing draft ANP 2022
Olha Stefanishyna, Vice Prime Minister of Ukraine for European and Euro-Atlantic Integration, instructed to start preparing a draft Annual National Programme under the auspices of the NATO-Ukraine Commission for 2022 and training programmes for civil servants in the field of Euro-Atlantic integration.
Marchenko announces creation of green corridor for goods at customs
Construction of new customs checkpoints on the border and reconstruction of old ones will allow solving the issue of separate corridors for the passage of authorized economic operators (AEO).
Government keeps fixed price for electricity for household consumers until May 1
The fixed price for electricity for household consumers set at UAH 1.68 per kWh will be valid in Ukraine until May 1, 2021.
Trade between Ukraine and Uzbekistan grew by 30% in 2020
Despite restrictions caused by the COVID-19 pandemic, trade between Ukraine and Uzbekistan increased by 30% in 2020.
Ukraine should become one of Kyrgyzstan's largest trading partners – UCCI president
Ukraine ranks eighth in the list of the largest trade and economic partners of Kyrgyzstan, but in terms of potential it should be among the top five.
Ukraine’s public debt amounted to $91.4B in late Feb
The total public and publicly guaranteed debt of Ukraine amounted to UAH 2.55 trillion or USD 91.41 billion at the end of February 2021, according to the press service of the Finance Ministry.
IMF advises Ukraine to keep focus on structural reforms
The International Monetary Fund (IMF) expects Ukraine to implement previously agreed structural reforms, despite the challenging conditions caused by the pandemic, to ensure inclusive growth of the national economy after the crisis.
Ukraine’s fruit imports reach 1M tonnes in 2020 – UCAB
In 2020, Ukraine imported almost 1 million tonnes of various fruit from abroad, which is 8% more than in 2019, according to the Ukrainian Agribusiness Club (UCAB).
25 March 2021
SkyUp resumes flights to Larnaca from Kyiv, Kharkiv and Zaporizhzhia
The Ukrainian low-cost carrier SkyUp Airlines will launch flights to Cyprus from Kyiv, Kharkiv and Zaporizhzhia in April, the airline’s press service reports.
Three southern regions of Ukraine to jointly develop tourism
Kherson region, Odesa region and Mykolaiv region have agreed to jointly develop the tourism industry of the Ukrainian Black Sea region, the press service of the Kherson Regional State Administration reports.
Diia City to ensure IT sector growth by 40-50% annually – Fedorov
The special legal framework for the IT industry, called Diia City, will ensure the growth of the IT sector by 40-50% annually, according to Deputy Prime Minister - Minister of Digital Transformation of Ukraine Mykhailo Fedorov.
Quarantine, fall in demand main reasons for decline in economy in 2020 - NBU
The main factors that caused the fall in Ukraine’s GDP in 2020 were quarantine restrictions and decline in domestic demand, the press service of the National Bank of Ukraine (NBU) reported.
Yermak meets with representatives of international business associations
Close and effective cooperation between the Ukrainian government and the business community is necessary to build an independent and economically strong Ukraine, Head of the Ukrainian President’s Office Andriy Yermak has stated at a meeting with representatives of international business associations.
24 March 2021
Czech Airlines to start flying to Odesa from next week
The Czech Republic’s flag carrier CSA-Czech Airlines will start operating flights from Prague to Odesa from next week.
Government to pay financial assistance to entrepreneurs affected by quarantine restrictions
The Ukrainian government will pay a one-time financial assistance in the amount of UAH 8,000 to individual entrepreneurs and employees of enterprises that had to cease their activities due to quarantine restrictions introduced in the red zones, Prime Minister Denys Shmyhal has said.
Electricity price to remain unchanged - Shmyhal
The Cabinet of Ministers of Ukraine has approved a decision to keep the price of electricity at UAH 1.68 per kWh after March 31, 2021.
Marchenko: Cooperation with EBRD key to Ukraine’s development
Cooperation with the European Bank for Reconstruction and Development (EBRD) is key to the development of various areas of Ukraine.
23 March 2021
Official dialogue on Ukraine's involvement in European Green Deal to begin in late April
At the end of April, Ukraine and the European Union will begin an official dialogue on Ukraine's involvement in the European Green Deal.
PM Shmyhal invites EBRD to join new projects in Ukraine
Prime Minister Denys Shmyhal has called on the European Bank for Reconstruction and Development (EBRD) to join the implementation of new projects in Ukraine.
Ukraine’s State Agency on Energy Efficiency, German Energy Agency to implement joint projects
The State Agency on Energy Efficiency and Energy Saving of Ukraine and the German Energy Agency (DENA) signed a memorandum of cooperation in the field of energy efficiency and renewable energy.
Retail trade turnover grew by 5.6% in Feb 2021 – Economy Ministry
In February 2021, the growth of Ukraine's retail trade turnover was 5.6% compared with 3.5% in January 2021, according to the press service of the Ministry of Economy, Trade and Agriculture Development of Ukraine.
FUIB received UAH 2.6B in net profit in 2020
First Ukrainian International Bank (FUIB) received UAH 2.6 billion in net profit in 2020, the bank’s press service reported.
Zelensky, EBRD President discuss Ukraine’s needs for investment in infrastructure and agriculture
Ukraine needs investment in infrastructure projects and agriculture and plans to develop public-private partnerships in the road sector.
State Tax Service to ensure effective cooperation with Bureau of Economic Security - Liubchenko
The State Tax Service of Ukraine will ensure effective cooperation with the newly established Bureau of Economic Security so that to reduce the shadow economy and eliminate unfair competition, Head of the State Tax Service Oleksiy Liubchenko has stated.
22 March 2021
Ukraine planning to invest UAH 14B in gas storage facilities – Shmyhal
Ukraine intends to invest about UAH 14 billion in the development of gas storage facilities until 2030, according to Prime Minister Denys Shmyhal.
NBU bought $30.5M on interbank foreign exchange market last week
The National Bank of Ukraine (NBU) bought $30.5 million on the interbank foreign exchange market last week, according to data provided by the central bank.
Zelensky signs law on Bureau of Economic Security
President of Ukraine Volodymyr Zelensky signed the Law “On the Bureau of Economic Security of Ukraine,” No.1150-IX, which was adopted by the Verkhovna Rada on January 28, 2021.
NBU provides refinancing to two banks for UAH 180M
The National Bank of Ukraine (NBU) provided a total of UAH 180 million in refinancing to two banks, the central bank’s press service reported.
Stefanishyna: Emissions trading in EU to speed up Ukraine’s ‘green’ transformation
The actions of European governments on the path towards achieving climate neutrality, the introduction of the emissions trading system, etc. are both a challenge and an opportunity for Ukraine.
Vice PM: Germany has invested over $1.67 B in Ukraine's economy
The issue of energy cooperation with Germany becomes increasingly important.