For the next year, Ukraine allocated 26.3% of its gross domestic product (GDP) to defense and security expenditures, including Hr 740 billion ($17.7 billion) for arms purchases and Hr 50 billion ($1.2 billion) on the production and purchase of drones.
The following is the Dec. 10, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. It’s a persistent problem with the drone supply to Ukrainian troops: Imported Chinese drones are often laden
Editor’s Note: This is issue 157 of Ukrainian State-Owned Enterprises Weekly, covering events from Dec. 2-8, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Parliament appoints Naftogaz’s CEO Chernyshov as national unity minister; CFO Chumak takes over as acting CEO. On Dec. 3,
Editor’s note: This is issue 4 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from Dec. 2-Dec. 8, 2024. This newsletter was until recently titled “Ukrainian Economy in Brief." The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial
The U.S. Treasury Department announced on Dec. 10 that it will provide $20 billion in loan assistance to Ukraine, marking its contribution to a broader $50 billion initiative supported by G7 countries.
The decrease of 10.5% compared to November 2023 marks the first drop since July, Reuters writes.
To address its budget shortfall, Russia has also begun selling off gold reserves from the National Welfare Fund.
The price of coffins in Russia has soared by 74% since the beginning of Russia's full-scale invasion of Ukraine, the Moscow Times reported on Dec. 5, citing Russia's Federal State Statistics Service (RosStat).
Editor’s Note: This is issue 156 of Ukrainian State-Owned Enterprises Weekly, covering events from Nov. 25 – Dec. 1, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs The Cabinet approves the state ownership policy, a key document for SOEs’ corporate governance. On Nov. 29, the
The following is the Dec. 3, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. President Volodymyr Zelensky finally signed into law a bill authorizing Ukraine’s first wartime tax increase on Nov.
Editor’s note: This is issue 3 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from Nov. 24-Dec. 1, 2024. This newsletter was until recently titled “Ukrainian Economy in Brief." The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial
Ukraine's Finance Ministry and the EU signed a memorandum and an agreement to attract up to 35 billion euros ($36.7 billion) as part of the G7 loan, the ministry said on Dec. 4.
Ukraine’s new eSupport program received over 2.1 million applications on its first day of operation, including nearly half a million for children, President Volodymyr Zelensky announced on Dec. 1.
In April of this year, Kyiv and Seoul signed an agreement enabling Ukraine to attract up to $2.1 billion in concessional loans over 2024-2029.
Editor’s Note: This is issue 155 of Ukrainian State-Owned Enterprises Weekly, covering events from Nov. 18-24, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs State 2025 budget projects Hr 66.01 billion ($1.6 billion) in SOE net profit and dividends. On Nov. 19,
According to the Federal State Statistics Service (RosStat), during the week of Nov. 19-25, the consumer price index increased by 0.36%, up 1.15% from the beginning of the month, and over 8% from the beginning of the year.
The following is the Nov. 26, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. Our most-read article last week was a story about how after Israel repeatedly ignored Ukraine’s warnings and
Ukraine has received a $4.8 billion loan from the World Bank through the PEACE project, Prime Minister Denys Shymhal said on Nov. 27.
Russia’s ruble took a blow following the news of the U.S. imposing sanctions on 50 Russian banks, including Gazprombank, hitting 108 against the U.S. dollar during early morning trade on Nov. 27.
Editor’s note: This is issue 2 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly "Ukraine Reforms Tracker" covering events from Nov. 18-24, 2024. This newsletter was until recently titled “Ukrainian Economy in Brief." The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs.
The recent hike in Russia’s key interest rate to 21% by the Central Bank in late October has stirred renewed debate among media and economists about the Russian economy’s outlook and how economic trends could influence Kremlin policies. Today, few predict an "imminent collapse" of the Russian economy.
The following is the Nov. 20, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. After weeks spent in anticipation of Russia’s next mass attack on Ukraine, Moscow launched its latest, and
Sales of new cars and light commercial vehicles in Russia could decline by 21-30% in 2025 if high interest rates persist, Avtovaz CEO Maxim Sokolov said on Nov. 19, according to the state-owned TASS news agency.
Ukrnafta, a state-owned oil and gas extraction company that is a subsidiary of Naftogaz, has bought a 51% stake in Shell's gas station network in Ukraine, the press service of Naftogaz reported on Nov. 19.
Editor’s Note: This is issue 154 of Ukrainian State-Owned Enterprises Weekly, covering events from Oct. 24-Nov. 17, 2024. The Kyiv Independent is reposting it with permission. Energy sector Ukraine’s energy infrastructure under attack, first in almost three months; power outage schedules are back. On Nov. 17, Ukraine’s
Editor’s note: This is issue 82 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from Nov. 11-14, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with permission. Dear
The transportation and construction industries remain the drivers of the growth, as well as the manufacturing sector, said First Deputy Economy Minister Oleksii Sobolev in a statement.
"As we're approaching the 1000th day of Russia's atrocious war, we will help keep the Ukrainian state running while the country fights for survival. We are in it for the long haul," Ursula Von der Leyen said.
Ukraine’s sovereign bonds rose in price after Donald Trump’s win in the U.S. presidential elections as investors expect a quicker end to the war, the Financial Times reported on Nov. 14.
Editor’s note: This is issue 81 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from Nov. 4-10, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with permission. Benchmarks
The following is the Nov. 12, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. As Donald Trump prepares to reenter the White House, the biggest question hanging over Ukraine is what his
Prominent organizations such as Come Back Alive and the Serhiy Prytula Foundation, headed by the well-known Ukrainian TV personality of the same name, have seen contributions decrease by approximately one-fifth in 2024, Bloomberg reports.
Russia’s 10-year war of aggression against Ukraine has caused widespread and long-lasting damage to the country’s economy. Positive growth predictions were squashed following Russia’s annexation of Crimea and invasion of Ukraine’s eastern Donbas region in 2014. Then came Russia’s full-scale invasion in February 2022, wreaking havoc on an economy that had just started to recover following the Covid-19 pandemic. The country’s financial sector and economy have proved resilient throughout Russia’s full-scale invasion, bouncing back in 2023, although the economy is still around a third smaller than its pre-war level.
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