Editor’s note: This is issue 63 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from July 1-7, 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 a chart based off of data originally published in the Kyiv-based Center of Economic Strategy's "Ukraine War Economy Tracker." The Kyiv Independent is republishing it with permission. Consumer confidence falls due to power outages and increased mobilization Consumer confidence index Current situation index Economic expectations index Source:
The following is the July 4, 2024 edition of our Ukraine Business Roundup weekly newsletter. This version is condensed as the author was out of the office. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. EU accession talks begin Ukraine and
According to the NBU's report, the offered monthly salaries have continuously grown from around Hr 13,500 ($332) in February 2022 to roughly Hr 19,500 ($480) in May 2024.
Editor’s note: This is issue 62 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from June 24–June 30, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with
Since the full-scale invasion of Ukraine began in 2022, the Russian government has focused all of its financial resources on funding the war. As the war is the Kremlin's number one priority, all tools at its disposal have been used: increased taxation, sovereign funds, domestic borrowing, and the printing of
After a long journey fraught with a global pandemic and all-out invasion, Canada and Ukraine successfully revamped a free trade agreement that comes into play on July 1, expanding the relationship between Canadian and Ukrainian businesses. The Canada Ukraine Free Trade Agreement (CUFTA) was initially introduced in August 2017, abolishing
Swedish furniture giant Ikea decided in May to make plans to reopen its store in Kyiv, Forbes Ukraine reported on June 27, citing two managers of shopping centers and two commercial real estate consultants.
Editor’s Note: This is issue 137 of Ukrainian State-Owned Enterprises Weekly, covering events from June 17-23, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Cabinet appoints Energoatom’s supervisory board. Ukraine's Cabinet of Ministers appointed all five members of state-owned nuclear giant Energoatom's supervisory
Preliminary estimates suggest that Ukraine's gross domestic product (GDP) increased by 6.5% in the first quarter of 2024 compared to the first quarter of 2023, Ukraine's State Statistics Service reported on June 25.
Editor’s note: This is issue 61 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from June 17–June 23, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with
Editor’s note: This story was sponsored by U-LEAD (Ukraine – Local Empowerment, Accountability and Development Programme), a partnership of the Ukrainian government and the European Union and its member states Germany, Poland, Denmark, and Slovenia to support the establishment of a multi-level governance that is transparent, accountable and responsive to
The following is the June 19, 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. The Group of Seven (G7) leaders confirmed on June 13 a plan to provide Ukraine with a $50
Editor’s Note: This is issue 136 of Ukrainian State-Owned Enterprises Weekly, covering events from June 09-16, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs HACC extends pre-trial restrictions for Kobolyev. On June 11, the High Anti-Corruption Court (HACC) granted the SpecialiZed Anti-Corruption Prosecutor’s
Editor’s note: This is issue 60 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from June 10–June 16, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with
The new Group of Seven (G7) plan to fund Ukraine using profits from frozen Russian assets is a “breakthrough,” but Ukraine’s goal is still to seize the full worth of the assets, said experts speaking at a panel event in Kyiv discussing Russian asset seizure on June 17. “This
The following is the June 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. Ukraine’s annual recovery conference happened this week in Berlin, but instead of talks of grand plans to
Editor’s note: This is issue 59 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from June 3–June 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
The following is the June 5, 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 just a day spent in Kyiv, one could be forgiven for thinking Ukraine’s economy is going
The following is a chart based off of data originally published in the Kyiv-based Center of Economic Strategy's "Ukraine War Economy Tracker." The Kyiv Independent is republishing it with permission. Dollar exceeds 40 hryvnias as budget needs grow Average daily official and market exchange rates UAH/USD Cash rate Official
Editor’s note: This is issue 58 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from May 27–June 2, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with
President Volodymyr Zelensky thanked Singapore’s clear stance on the war in Ukraine and discussed prospects of bilateral relations with his Singaporean counterpart, Tharman Shanmugaratnam, the President's Office said.
Ukraine is set to receive $2.2 billion from the IMF's Extended Fund Facility (EFF), Prime Minister Denys Shmyhal announced on social media on May 31.
The Russian Finance Ministry has proposed substantial tax increases on corporations and wealthy individuals to generate about 2.6 trillion rubles annually, to address the fiscal deficit following the full-scale invasion in Ukraine.
Last week, I wrote in this newsletter that the biggest problems business leaders said they were facing in Kharkiv weren’t Russian attacks, but mobilization. And just like that, Russia launched missile attacks at a publishing house and a building materials hypermarket in the city. In the first of the
Editor’s Note: This is issue 133 of Ukrainian State-Owned Enterprises Weekly, covering events from May 19-24, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Ukreximbank appoints three new top executives. On May 23, Ukreximbank reported that its supervisory board had elected Pavel Haskovec, Maksym
Editor’s note: This is issue 57 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from May 20–26, 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.
The following is the May 21, 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. One of the more-talked-about stories in Ukrainian business this past week was a seemingly odd government decision to
"Thanks to the funds raised from domestic government bonds, we were able to finance more than 200 days of our security and defense, which is equivalent to 15% of Ukraine's GDP (gross domestic product) in 2023. Investments in government bonds have become the second largest source of financing for the State Budget after international aid," Finance Minister Serhii Marchenko said.
Editor’s Note: This is issue 132 of Ukrainian State-Owned Enterprises Weekly, covering events from May 11-18, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Parliament reverses SOE corporate governance law to have Ukrnafta pay dividends directly to the state budget, SOE Weekly’s team
Editor’s note: This is issue 56 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from May 13–19, 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.
"Despite attacks by Russia on Ukraine's energy infrastructure, it is likely that Ukraine will see real economic growth of around 3 percent in 2024," the ministry said.
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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