PM Shmyhal: Repair of local roads is Government’s priority
More than UAH 80 billion will be allocated for road repair in 2020. This is an unprecedented amount preserved in the updated State Budget of Ukraine.
Economy
Ukraine expects to receive $2 bln tranche from IMF in Q2 2020
The National Bank of Ukraine (NBU) expects that Ukraine will receive a tranche of USD 2 billion from the International Monetary Fund in the second quarter of 2020.
Ukraine's forex reserves to exceed $27 bln at end of 2020 - NBU
Ukraine's foreign exchange reserves will reach over $27 billion at the end of 2020, Deputy Governor of the National Bank of Ukraine (NBU) Dmytro Solohub has said.
Ukraine’s economy works, PM Shmyhal assures
Prime Minister of Ukraine Denys Shmyhal has assured that Ukraine's economy works, except for six areas.
Ukrainian economy to decline by 5% in 2020 - NBU
The Ukrainian economy will decline by 5% in 2020 but will resume growth at around 4% in the coming years.
Fitch affirms Ukraine at 'B', outlook stable
Fitch Ratings has affirmed Ukraine's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B'.
NBU cuts discount rate to 8%
The National Bank of Ukraine (NBU) has decided to reduce the discount rate to 8%.
Naftogaz reduces gas price for population by 15%
NJSC Naftogaz of Ukraine has cut the gas price for the population to UAH 2.9 per cubic meter in April 2020, according to the company’s press service.
President: Ukraine expecting to get $8 bln from IMF
President of Ukraine Volodymyr Zelensky expressed his hope that the Verkhovna Rada would adopt all the decisions necessary to sign a memorandum of cooperation with the IMF.
Pension Fund transferred almost UAH 33 bln for pension payments in April
The Pension Fund of Ukraine has directed UAH 32.9 billion for pension payments since April began.
Zelensky wants state-owned airline be established in Ukraine
President Volodymyr Zelensky has said that it is necessary to create a state-owned airline in Ukraine, the fleet of which will consist of domestic-made aircraft.
22 April 2020
Government allocates UAH 25 mln to eliminate consequences of fires in Zhytomyr region
The Cabinet of Ministers of Ukraine allocated UAH 25 million to eliminate the consequences of fires in Zhytomyr region, Prime Minister Denys Shmyhal has said.
EU to provide Ukraine with EUR 1.2 bln of macro-financial assistance – Zelensky
The European Commission has decided to provide EUR 1.2 billion of macro-financial assistance to Ukraine to tackle the COVID-19 pandemic
Ukraine’s import of buckwheat grew 6.5 times in Q1 2020
Ukraine’s buckwheat imports reached UAH 115 million in January-March 2020, which is 6.5 times more than in the relevant period of 2019, according to the State Customs Service.
Akhmetov's fortune tumbled 80% over past seven years - Bloomberg
The fortune of Ukrainian oligarch and Ukraine's richest man Rinat Akhmetov has tumbled 80% over the past seven years, according to Bloomberg.
NBU provided law enforcers with access to information on 36 occasions in Q1 2020
The National Bank of Ukraine (NBU) 36 times opened access for the law enforcement agencies to information in the scope of financial criminal investigations in the banking sector in January-March 2020, the press service of the central bank reported.
Passenger traffic in Ukraine down 16% in January-March 2020
The number of passengers served by Ukrainian transport companies in January-March 2020 decreased by 16.3% compared with the relevant period in 2019, to 19.6 billion passenger-kilometers, according to the data provided by the State Statistics Service of Ukraine.
21 April 2020
Internet fraud rate in Ukraine increases by 15 percent
The coronavirus quarantine in Ukraine has reduced crime rates overall, but the Internet fraud rate has increased by 15%.
Ukraine's exports of agricultural machinery down nearly 10% in 2019
Exports of agricultural machinery from Ukraine shrank by 9.4% in 2019, to $37.6 million, the head of the department of investment and logistics of the Institute of Agrarian Economics, Oleksandr Zakharchuk, has said.
Ukrspyrt already sold 2.6 mln disinfectant for antiseptic production
State Enterprise Ukrspyrt has already sold 2.6 million liters of disinfectant to Ukrainian enterprises for the production of antiseptics, according to the company’s press service.
Accounting Chamber: Courts of appeal inefficiently spent UAH 139 mln
The audit conducted by the Accounting Chamber of Ukraine found that UAH 139 million was used inefficiently to support the activity of general courts of appeal in 2018-2019, according to the press service of the Accounting Chamber.
Ukraine can offer Europe 10 bln cu m of gas in storage facilities
Ukraine can offer Europe 10 billion cubic meters of gas in the underground gas storage facilities to accumulate the fuel for 2020-2021.
Ukrtransgaz calls on government to cancel customs duties for users of UGS facilities
JSC Ukrtransgaz has called on the Cabinet of Ministers of Ukraine to abolish the obligation to pay customs duties for storing natural gas in underground gas storage (UGS) facilities in “the customs warehouse” regime, according to the company’s press service.
18 April 2020
Scheduled flights inside Ukraine may be resumed by summer’s end
Scheduled flights inside Ukraine may be resumed in September or even by summer’s end.
Zelensky doesn’t want reject cooperation with IMF
President of Ukraine Volodymyr Zelensky is committed to the cooperation with the International Monetary Fund and does not consider it expedient to take risks under the current conditions and bring the economy to default.
17 April 2020
Minister Chernyshov: Great Construction project is important regional development tool
The Great Construction nationwide project is an important tool for regional development.
Minister Chernyshov: Great Construction project is important regional development tool
The Great Construction nationwide project is an important tool for regional development.
Pension Fund: UAH 4.9 bln more for pension payments
The Pension Fund of Ukraine has transferred another UAH 4.9 billion for pension payments.
Parliament’s committee to start consideration of ‘bill on banks’ on April 21
The Verkhovna Rada Committee on Finance, Taxation and Customs Policy will start consideration of the Draft Law “On Amending Legislative Acts of Ukraine to Improve Certain Mechanisms of Banking Activity Regulation” at second reading on Tuesday, April 21.
Amendments to state budget: Expenditures for government cut by UAH 1.9 bln
Expenditures for the Cabinet of Ministers have been reduced by UAH 1 9 billion, according to amendments to the 2020 state budget adopted by the Verkhovna Rada.
Government appoints acting board member of Ukrzaliznytsia
The Cabinet of Ministers has approved a resolution to appoint Director for Infrastructure of JSC Ukrzaliznytsia as acting member of the Board of Ukrzaliznytsia.
Corporatization of Sea Ports Authority to be completed – Kryklii
Infrastructure Minister Vladyslav Kryklii has stated that the corporatization of the Ukrainian Sea Ports Authority will be completed and agreements on some ports’ concession will be signed.
Ukraine, UAE agree to work on joint investment projects
Minister of Foreign Affairs of Ukraine Dmytro Kuleba and Minister of Foreign Affairs and International Cooperation of the United Arab Emirates His Highness Sheikh Abdullah bin Zayed Al Nahyan agreed on the implementation of joint investment projects in priority areas.
Pension Fund transfers UAH 2.5 bln more for pension payments
The Pension Fund of Ukraine has directed another UAH 2.5 billion for pension payments.
Ukrainian government replaces energy minister
The Cabinet of Ministers has dismissed Vitaliy Shubin as first deputy minister of energy and environmental protection, relieving him of the fulfillment of the energy minister's duties, and appointed Olha Buslavets to the post, entrusting her with corresponding responsibilities.
Affordable Loans Program: Government extends funding to UAH 35 bln
As part of the program “Affordable Loans at 5-7-9%”, micro and small businesses can get up to UAH 35 billion of loans, according to the Ministry for Development of Economy, Trade and Agriculture.
16 April 2020
Ukrainian business expects drop in production – NBU
Ukrainian business expects a decrease in production and sales.
EBA concerned about increased prices for electronics
The European Business Association (EBA) is concerned that some provisions of the Law on Collective Management of Copyright will lead to a rise in prices for certain electronics, the EBA's press service has reported.
Infrastructure Ministry to create commission to select investment projects in transport sector
The Infrastructure Ministry will set up a special commission to review and recommend investment projects in the fields of transport, road management and postal services, according to the ministry’s press service.
Minister Kryklii: Ports need to optimize their strategic and investment plans due to quarantine
Ukrainian ports need to optimize their strategic and investment plans, as well as to review spending on major construction due to coronavirus quarantine.
All alcohol and tobacco products grow in price in Ukraine
Prices for beer, wine, vodka and cigarettes in Ukraine rose from March 2019 to March 2020, according to the State Statistics Service.
Ukraine’s average wage exceeds UAH 9,600 in February – Pension Fund
The Pension Fund of Ukraine has approved the average wage rate for February 2020 in the amount of 9,658 hryvnias 3 kopecks.
Switzerland among top 5 investors of Ukraine – ambassador
Switzerland is one of the main foreign investors of Ukraine, having invested more than USD 1.7 billion in the country’s economy, Ukrainian Ambassador to Switzerland Artem Rybchenko has said.
15 April 2020
Court orders PrivatBank to pay over $250 mln to Surkis family
Kyiv Court of Appeal has upheld a ruling of Kyiv's Pechersky District Court that obliged PrivatBank to pay more than $250 million to the offshore companies of the Surkis family.
IMF's European Department recommends continuing cooperation with Ukraine
The European Department of the International Monetary Fund (IMF) has good reason to recommend that the IMF Executive Board continue cooperation with Ukraine, which will provide it with additional capabilities to combat the crisis caused by the COVID-19 pandemic.
Imposition of duty on Russian coal postponed until May 1
The Government of Ukraine has postponed the imposition of duty on coal from the Russian Federation until May 1.
Government replaces acting head of Ukrzaliznytsia
The Cabinet of Ministers dismissed Zeljko Marcek as acting CEO of JSC Ukrzaliznytsia and appointed Ivan Yuryk to replace him, according to Infrastructure Minister Vladyslav Kryklii.
Pension Fund: 66.4% of Ukrainian retirees receive pensions through banks
As of April 1, 7.5 million Ukrainian retirees receive pension payments through banks, according to the Pension Fund of Ukraine.
NBU: Banks to remain closed for three days over Easter holiday
The Ukrainian banking system will remain closed for three days due to the Easter holiday celebrated in Ukraine on April 19, according to the National Bank of Ukraine (NBU).
Number of unemployed rises by 45% in Kyiv city
The number of unemployed has increased by 45% in Kyiv city since the introduction of quarantine measures on March 12, according to Director of Kyiv City Employment Center Viktor Bilych.
NBU determines criteria for write-off of banks' impaired financial assets
The National Bank of Ukraine (NBU) has determined the criteria for writing off the impaired financial assets of banks from reserves for expected losses, which will allow banks to get rid of non-performing loans, the central bank's press service has reported.
14 April 2020
Minister Kuleba: Some countries ready to organize charter flights for Ukrainian seasonal workers
Demand for Ukrainian labor migrants in the neighboring countries is so high given the onset of seasonal works that the governments are ready to pay for charter flights and preparation of documents for them.
IMF projects drop in Ukraine's GDP to -7.7% due to coronavirus
The International Monetary Fund (IMF) expects a serious drop in Ukraine's economic growth due to the coronavirus - down to -7.7% in 2020, according to the IMF's World Economic Outlook for April 2020.
Public procurement: UAH 1.5 bln already spent on fight against coronavirus
State agencies have already allocated UAH 1.47 billion for the purchase of goods and services to tackle the coronavirus epidemic, according to the Ministry for Development of Economy, Trade and Agriculture.
PM Shmyhal, French ambassador agree on implementation of infrastructure projects
Prime Minister Dmytro Shmyhal met with Ambassador Extraordinary and Plenipotentiary of France to Ukraine Etienne de Ponsen and agreed on the implementation of infrastructure projects in Ukraine.
Government dismisses two deputy economy ministers
The Cabinet of Ministers has dismissed Pavlo Kukhta as Ukraine's first deputy minister for economic development, trade and agriculture.
Ukrnafta pays over UAH 5 bln in taxes in Q1 2020
PJSC Ukrnafta paid UAH 5.08 billion in taxes to the budgets of all levels in the first quarter of 2020, the company’s press service reported.
Ukraine, Hungary to develop economic cooperation despite COVID-19 – Foreign Ministry
Ukraine’s Foreign Minister Dmytro Kuleba and Hungary's Foreign Minister Péter Szijjártó in a phone conversation have discussed the fight against the COVID-19 pandemic and issues of economic cooperation.
Finance Minister: Budget amendments provide for IMF aid
The support from international financial institutions, including direct support from the International Monetary Fund, is provided for in the adopted state budget.