Despite its economy steadily improving from the first months of the full-scale invasion, very little foreign capital is currently trickling down to Ukraine’s private and public sectors. Money from international financial institutions has helped stabilize the economy, bolstering forecasts of 3.2% gross domestic product (GDP) growth this year,
2022 heralded a new era for Russia’s banks. Increasingly isolated from the global economy and laden with heavy Western sanctions, the sector saw profits fall by 90 percent compared to 2021. For Russia’s technocrats, the future seemed dim. Then came 2023. Russia’s Central Bank announced last week
As Russia’s full-scale war approaches the two-year mark, Ukraine is headed for economic turbulence as vital external financial help hangs in the balance. As the Ukrainian government spends all of its revenue on the military, it relies on international aid from its Western partners. The budget deficit is expected
As the Polish trucker blockade of Ukrainian haulers heads toward the one-month mark, the toll on Ukraine’s businesses is adding up. As of Dec. 4, around 2,500 trucks are stuck at the Ukrainian border with Poland waiting to cross because of the protests, which started on Nov. 6
The threat of a demographic crisis has been building in Ukraine for a while but Russia’s full-scale invasion has pushed it to the breaking point. The country had a population of 41 million in 2021, by the government’s reckoning. Now, it hovers around 35 million and experts warn
In the month of September, 35,587 new small and medium sized businesses were registered in Ukraine, a three-year-high, Opendatabot said on Oct. 11.
The International Monetary Fund (IMF) increased its forecast for Ukraine's gross domestic product (GDP) growth this year to 2% as the country successfully grapples with problems caused by Russia’s full-scale invasion.
Consumer prices in Ukraine fell to 7.1% by the end of September, down from 8.6% by the end of August, as inflation cools in the country.
Ukraine’s key sectors grew between January and September this year, Economy Minister Yulia Svyrydenko said on Oct. 9, citing the Ministry's preliminary estimates.
The number of job vacancies in Ukraine reached its highest level last month since the start of Russia’s full-scale invasion, Opendatabot said on Oct. 6. There were 105,000 vacancies on the website Work.ua in September.
Ukraine’s gross domestic product grew by 19.5% year-on-year in the second quarter of 2023, signaling the economy’s successful adaptation to wartime conditions following last year’s collapse.
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
Nearly one-third of the alcohol market in Ukraine is unregulated, according to the World Health Organization. This costs the state big bucks. According to a Jan. 11 report by the Accounting Chamber of Ukraine, bootleg alcohol sales are costing the country's government $330 million (Hr 9 billion) in excise taxes
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.
