Russia’s all-out invasion slashed the net worth of Ukraine’s wealthiest, destroying plants and factories and shrinking the country’s economy by a third. Altogether, Ukraine’s 20 richest people are worth $22.5 billion, down by over $20 billion from February 2022, Forbes Ukraine reported on Dec. 27.
Before Russia’s full-scale invasion, Ukraine’s exports were a reason to celebrate. Last year, the country hit a 10-year record with $68 billion in exports. As Russia’s invasion enters its seventh month, no one can predict when Ukraine can expect to post these kinds of results again. According
The National Bank of Ukraine has devalued the hryvnia against the dollar by 25% on July 21. The new official rate is Hr 36.57 per dollar. The previous rate of Hr 29.25, established in February at the start of the invasion, "no longer corresponds to reality and is
Ukraine’s gross domestic product was $200 billion in 2021, the highest it's ever been since the country became independent in 1991, Deputy Minister of Economy Denys Kudin said on Jan. 28. The country managed to hit this peak in spite of the setbacks from the Covid-19 pandemic and close
Ukraine’s public procurement relies heavily on imports: nearly 40% of items bought by the state come from abroad. In the European Union that figure is five times lower, and in the U.S. its nearly nine times less, according to the Center for Market Economy Development. The problem is
Ukrainian consumers felt the impact of high inflation in 2021 as prices on basic goods and utilities kept growing. The annual inflation rate last year grew to 10% for the first time since 2018. The growth of consumer prices also accelerated – from 5% in 2020 to 10% in 2021, according
Editor’s Note: The following are the analytical notes that Timothy Ash, senior strategist at Bluebay Asset Management, distributes to his subscribers. The Kyiv Independent is reposting it with permission. It seems that “order” will be restored in Kazakhstan, but only with the help of Russian/CSTO (Collective Security Treaty
On Dec. 10, President Volodymyr Zelensky signed into law the annual state budget for 2022. A 4% spending increase coupled with a deficit cut necessitated by IMF conditions meant that the government had to find nearly $8 billion of extra revenue, creating several new taxes and hiking up existing ones,
Editor's Note: The following are the analytical notes that Timothy Ash, senior strategist at Bluebay Asset Management, distributes to his subscribers. The Kyiv Independent is reposting it with permission. With lots of focus now on the heightened military threat from Russia, I assume there will be concern about how durable
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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