Articles :

The European Union has promised Ukraine to imminently allocate the next tranche of its macro-financial assistance worth EUR 600 million; the IMF has confirmed that is in the final stage of the review of Ukrainian cooperation program; while the State Statistics Service reported on the acceleration of economic growth and inflation - these are the key economic news of the past week.

Finance Minister of Ukraine Oleksandr Danyliuk in an interview with UNIAN has spoken about the launch of the Financial Police, forecasts regarding asset return and privatization, the current sentiments of Ukraine’s international partners, and the ongoing litigation with the aggressor state in a London court.

Electricity supplies to Avdiyivka and the local coke plant have been cut off amidst fierce fighting; Russia’s fearmongering over gas supplies has failed to impress the European Union; Ukrainian economy is growing and budget revenues – increasing, while the National energy regulator once again adopts scandalous decisions - these are major economic news of the past week.

The Government presented its medium-term plan of reform aimed at securing economic growth, Ukrzaliznytsia [Ukrainian Railways] was withdrawn from the jurisdiction of the Ministry of Infrastructure, while the National Bank, State Statistics Service, and businesses announced their forecasts for the next 12 months - these are the main economic news of the outgoing week.

Arms exports remain an important source of income for the Ukrainian defense sector. One of the major export contracts is this year’s delivery of a final batch of Oplot main battle tanks to Thailand. The deal is worth nearly $250 million.

The International Monetary Fund has promised in the coming days to agree on the details of the decision on the allocation for Ukraine of a new tranche of the loan; the hryvnia seems to be calming down following the stormy days at year-start; and the government has brought to top agenda the issue of pension reform – these are the key economic news of the outgoing week.

The National Bank went on the interbank market several times, selling foreign currency to support the falling hryvnia; the Government says it is up to create new jobs to fight unemployment and poverty; and the International Monetary Fund has promised to hold a meeting in the coming weeks on the allocation of another bailout tranche - these are the major economic events of the past week.

While foreign investors are looking at Ukraine, in no hurry to invest in large projects, loans from international financial institutions and the G7 governments remain the only incentive for the development of the national economy. Terms of allocation of loans are becoming tougher, requiring from Kyiv some fundamental change.

Grand privatization of 2016 was yet another failure. There were several reasons for such a shameful result- the lack of interest of foreign investors due to the ongoing Russian aggression, as well as macroeconomic instability. However, Ukrainian officials have not "climbed out of their way" to effectively sell state assets.

Ukraine continues to strengthen its military capabilities. In 2016 the national military industry showcased a number of new projects, while the country’s defense sector, for the fourth consecutive year, received record funding.

Russia’s ongoing military aggression against Ukraine has forced the authorities to launch reforms in one of the country’s strategic sectors – power engineering. Thanks to the measures taken, national energetics has become more independent and stable than it was two years ago, although there is yet plenty to be done.

One December night, along with the adoption of the state budget 2017, the Ukrainian Parliament approved amendments to the Tax Code. Despite the fact that new approaches of tax policy were being worked out for a whole year, the businesses were informed of some major innovations right New Year’s eve. UNIAN tried to figure out what awaits the taxpayers in Ukraine in 2017.

Ukraine’s banking system in 2016, the year so dramatic for the sector, has lost 18 financial institutions, while the country’s largest bank, PrivatBank, was transferred to 100% state ownership. Will these measures adopted by the National Bank and the government result in the improvement of the national banking sector, and what should depositors and bankers expect in 2017?

The outgoing year broke the trend of all recent years when the economic situation was deteriorating. And although the financial situation of the majority of Ukrainians has not improved, a lot of things done after the Revolution of Dignity are starting bringing effect, so a modest 1.5% GDP growth with a significant drop in inflation allows to count on the acceleration of growth in 2017. UNIAN recalls the main results of 2016.

The economy of Ukraine, which is gradually getting out of the protracted crisis, in the coming year will show a steady growth amid inflation reduction. Ukraine’s leading analysts interviewed by UNIAN say that strengthening the fight against corruption and attracting investment are the key factors for boosting the economy. Here is the macroeconomic consensus forecast for 2017.

Ukraine welcomes the new year with the state budget adopted. That is, one of the key conditions for continued cooperation with the International Monetary Fund has been met. Prime Minister Volodymyr Groysman named the law passed in the year’s longest night the budget of development and growth, while experts deem experimental some of its innovations.

In the past year, Ukraine’s agricultural sector has set two historical records. The farmers reported the record grain yield and scheduled record volumes of exports by the end of the marketing year. In an article continuing the review of 2016, UNIAN reports on the other victories of Ukraine’s agribusinesses, the main challenges the industry faced 2016, and forecasts for 2017.

On January 1, 2016, Volodymyr Groysman met the New Year as head of Parliament, but as early as April 2016, as a result of political agreements, he took up the post of Ukraine’s prime minister and pledged to "show how the state should be run." UNIAN analyzed the successes and failures of Groysman’s Cabinet and assessed the prospects of his government in 2017.

The Ukrainian authorities this week took decisions that overshadowed all other economic news of the recent months in terms of their importance. The Verkhovna Rada adopted a budget for 2017, while the Cabinet nationalized the country's largest bank, PrivatBank. The path to further cooperation with the IMF is now open.

The renewed Council of the National Bank of Ukraine will meet December 21 to take a key decision within its competence – to approve the next year’s monetary policy principles, which will be crucial for price stability, as well as the stability of the hryvnia and the prospects for economic growth.