Ukraine exports over 64 million tons of cargo through Black Sea corridor in a year
This volume included 43.5 million metric tons of agricultural products exported through the Black Sea shipping route over the past year.
Economy
Ukraine Business Roundup — Ukrainian companies need workers
The following is the Aug. 13, 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. While most businesses around the world worry about their bottom lines, businesses in Ukraine have what appears to
MP Yaroslav Zhelezniak: Developments in Ukraine’s parliament on economic reforms, international obligations — Issue 68
Editor’s note: This is issue 68 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from Aug. 5- Aug. 11, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with
Kyiv receives $4.6 billion from EU under Ukraine Facility program
Ukraine has received 4.2 billion euros ($4.6 billion) as part of the EU's four-year financial support program, Prime Minister Denys Shmyhal said on Aug. 13.
Opinion: The EU should help Ukrainian refugees return home
After Russia launched its full-scale invasion of Ukraine on Feb. 24, 2022, millions of Ukrainians found refuge in the European Union, with Germany and Poland alone taking in about one million refugees each. But this was always meant to be a temporary solution. The protracted war of attrition that is
Ukraine launches debt restructuring, avoiding default
Ukraine's Finance Ministry announced on Aug. 9 the terms of the exchange of old bonds for newly issued securities, launching the process of restructuring Ukraine's external debt on Eurobonds.
Statistics service: Inflation drops to 0% in July
After several large-scale Russian attacks on Ukrainian energy infrastructure in the spring and summer, the rise in electricity prices in June fueled both consumer and industrial price inflation in Ukraine.
Ukrainian companies desperately need workers. There just aren't enough
Supermarket shelves go unstocked. Metro trains run less often. Large companies are freezing whole divisions. Factory employees take on overtime shifts to meet production. Projects to alleviate Ukraine’s energy crisis have been delayed. Across nearly every sector, Ukraine’s economy is feeling the same labor crunch that is squeezing
Russia's economy will face sharp decline after second quarter of 2024, Bloomberg reports
Russia is on track for an intense economic slowdown due to significant labor shortages and constraints placed on the key sectors that backed growth until now, Bloomberg reported on Aug. 9.
MP Yaroslav Zhelezniak: Developments in Ukraine’s parliament on economic reforms, international obligations — Issue 67
Editor’s note: This is issue 67 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from July 29- Aug. 4, 2024. The digest highlights steps taken in the Ukrainian parliament related to business, economics, and international financial programs. The Kyiv Independent is republishing with
Richard Verma to replace Penny Pritzker as US Special Representative for Ukraine’s Economic Recovery
"Special Representative Penny Pritzker has been a tireless advocate of Ukraine’s economic recovery," U.S. State Secretary Antony Blinken said in a statement.
Ukraine Business Roundup — Business goes to war with proposed tax hike
The following is the July 30, 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. Business and government in Ukraine are
Ukraine businesses furious over government-proposed tax hikes to fund fight against Russia
Business and government in Ukraine are publicly slamming one another over a proposed tax hike Kyiv says is necessary to fund its fight against Russia. Earlier on July 18, the Finance Ministry announced that the government had approved draft changes to the 2024 budget law that included an increase in
Ukraine state-owned enterprises weekly — Issue 142
Editor’s Note: This is issue 142 of Ukrainian State-Owned Enterprises Weekly, covering events from July 21-27, 2024. The Kyiv Independent is reposting it with permission. Energy sector Ukraine increases natural gas reserves in underground storage to 10 billion cubic meters, Naftogaz Group reported on July 22. Over 2.5
MP Yaroslav Zhelezniak: Developments in Ukraine’s parliament on economic reforms, international obligations — Issue 66
Editor’s note: This is issue 66 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from July 22-28, 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
Russian Central Bank raises interest rate to 18% amid 'accelerated' inflation
Russia's Central Bank announced on July 26 that it is to raise the interest rate from 16% to 18%, as the Russian economy continues to experience accelerated inflation amid its war in Ukraine.
Ukraine state-owned enterprises weekly — Issue 141
Editor’s Note: This is issue 141 of Ukrainian State-Owned Enterprises Weekly, covering events from July 14-20, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs PrivatBank appoints a new CFO. On July 15, PrivatBank reported that Larysa Chernyshova will serve in this role starting Sept.
MP Yaroslav Zhelezniak: Developments in Ukraine’s parliament on economic reforms, international obligations — Issue 65
Editor’s note: This is issue 65 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from July 8-14, 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. Benchmarks
Ukraine reaches preliminary deal with bondholders on debt restructuring
Based on the deal, Ukraine stands to save $11.4 billion over the next three years and $22.75 billion by 2033, Prime Minister Denys Shmyhal explained.
Ukrainian parliament passes law on postponing external debt payments
Proposed by President Volodymyr Zelensky's Servant of the People party, the legislation seeks to postpone payments of international sovereign debt and state-guaranteed obligations past its August deadline.
Ukraine Business Roundup — Will Ukraine reach a deal on its debt?
The following is the July 16, 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. With Ukraine desperately seeking cash to
Russian companies increasingly looking to Africa to fill vacancies, media reports
The data analyzed by RBC indicated that seven of the 10 countries with the highest increase in vacancies posted by Russian companies were in Africa.
Modern polyclinic sparks revival in small town near Dnipro
Editor's note: This story was sponsored by U-LEAD (Ukraine – Local Empowerment, Accountability and Development Program), 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 transparent, accountable and responsive multi-level governance system in Ukraine. PERESHCHEPYNE,
Ukraine state-owned enterprises weekly — Issue 140
Editor’s Note: This is issue 140 of Ukrainian State-Owned Enterprises Weekly, covering events from July 7-13, 2024. The Kyiv Independent is reposting it with permission. Energy sector Naftogaz Group pays Hr 47 billion ($1.1 billion) in taxes for January-June 2024, the company’s press office reported on July
MP Yaroslav Zhelezniak: Developments in Ukraine’s parliament on economic reforms, international obligations — Issue 64
Editor’s note: This is issue 64 of Ukrainian lawmaker Yaroslav Zhelezniak’s weekly “Ukrainian Economy in Brief” newsletter, covering events from July 8-14, 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. Benchmarks
National Bank sets new historic low for hryvnia exchange rate
The hryvnia exchange rate on the interbank foreign exchange market surpassed Hr 41 per dollar on the morning of July 12.
Ukraine's GDP grew by more than 4% in 6 months
"Due to the high adaptability to difficult conditions and experience in responding to such challenges, the Ukrainian economy continued to grow" in June, said Economy Minister Yulia Svyrydenko.
Opinion: How Ukraine's industrial parks are pioneering economic transformation
Attracting investments through industrial parks has driven GDP growth and tripled exports in Turkey, exceeding $350 billion annually. In South Korea, enterprises in industrial parks have accounted for up to 72% of exports and employed 48% of the population. China's industrial and technology parks contribute about 23% of its GDP.
Opinion: Restructuring Ukrainian debt is a step toward democratic victory
Ukraine's victory is the victory of the entire free world over dictators and tyrants. The formula for victory is well known: the strength of the Ukrainian army, the unity of the free world, unwavering long-term military and financial support for Ukraine, and, first and foremost, Ukraine's membership in NATO. One
Russia faces 6th straight month of price growth, Bloomberg reports
The annual inflation rate for June was 8.59%, up from 8.30% the previous month. The figure is significantly higher than that of the U.S., which is expected to be around 3.1% for the month of June.
Ukraine Business Roundup — Businessman leaves Ukraine after SBU raid
The following is the July 9, 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. There’s an unpleasant fact about
MP Yaroslav Zhelezniak: Developments in Ukraine’s parliament on economic reforms, international obligations — Issue 63
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
Ukraine’s Economy
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.
Learn more about Ukraine’s Economy
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