Articles Economics

Managing Director of the Individual Deposits Guarantee Fund Kostyantyn Vorushylin has told UNIAN about the last high-profile bankruptcies and difficulties in relations with law enforcement agencies, despite which first owners and top managers of bankrupt banks will soon be announced suspicion in criminal cases.

Hitting rivals with media blows, covering up raider attacks, banally resorting to extortion – these are common methods of capturing markets and the companies’ revenues in Ukraine. The economic crisis and the war in the east became the additional incentives for speculators and information killers. And the shadow of Ukraine’s northern neighbor is becoming increasingly clear behind them.

Ukraine has increased its own gas production and the rate of gas injection into storage facilities; the National Bank abolished the regulation obliging citizens to present passports when buying foreign currency; and the government announced the expansion of the scope and geography of road works – these are the main economic news of the past week.

The Ukrainian banks, weakened by the crisis, are still reluctant to lend to the business due to the huge amount of bad debts. Most companies are neither willing to borrow at market rates. Will the real sector receive access to funding sources it in the coming months?

Deputy head of Presidential Administration of Ukraine, Secretary of the National Reform Council Dmytro Shymkiv has told in an interview with UNIAN about the main directions of development of the country’s IT industry, elaborating on the ways to increase the share of innovative services in the national IT market and revealing how many IT professionals have left Ukraine in recent years, why most startups created by Ukrainians are registered abroad and what should be done to change this situation.

The National Bank has once again lowered its key rate and continued to soften forex restrictions; the IMF's leaders have announced they are leaving for a summer vacation without setting a date for the meeting on Ukraine – these are the key economic news of the past week.

Ukraine is in many terms one of the world's largest agricultural producer. But the realization of the country’s ambitious goal - to become the world’s food basket – still remains at the initial stage.

The Government led by Volodymyr Groysman has marked the first 100 days of its work; the attempt to sell the state-owned Odesa Port-Side Chemical Plant has failed; while the International Monetary Fund has postponed a decision on the allocation of a third tranche of the loan for Ukraine – these are the main economic news of the past week. 

UNIAN has analyzed the achievements and main economic priorities of Ukraine’s new Cabinet of Ministers, headed by Volodymyr Groysman, over its first 100 days in power.

The attempt to sell the state-owned Odesa Port-Side Chemical Plant (OPP) has failed one again due to the mistakes of the organizers. Potential buyers have chosen to give the auction of the plant, which has a starting price of UAH 13.2 billion, a miss. The State Property Fund (SPF) is now planning another attempt to sell the company in the fall, promising to reduce the plant’s price by a third.

Ukraine and Canada have signed a free trade agreement, the Government extended the embargo against Russian goods and completed the talks with the IMF, the farmers entered into an active phase of harvesting, promising to be close to a record-breaker – these are the main economic news of the past week.

Reforms in Ukraine have launched two years ago. Much has been done, but there are still too many problems, especially regarding the business environment. Ukraine’s Doing Business index is slightly above zero, and UNIAN tried to learn why.

After six years of negotiations, Ukraine and Canada have signed a long-awaited Free Trade Agreement, which opens 98% of the Canadian market to Ukrainian products, with a promising annual trade volume of $547 billion.

Russia and Ukraine have exchanged a new round of blows with trade restrictions, Naftogaz is considering gas purchases for the heating season, PM Volodymyr Groysman has responded to “utility tariff populists,” and Rada played some "opaque games" in the NBU Council members’ selection process – these are the main economic news of the past week.

Russia, which has for years waged trade war against Ukraine, decided to boost confrontation. With another decree of Vladimir Putin having been introduced, the Ukrainian transit of goods to Central Asia can be blocked completely.

Volodymyr Groysman’s Cabinet seeks to prolong a ban, which has already been enforced for 15 years, on farmland sale, launching the landl ease rights market instead. Not only will it not return to the land-owners the opportunity to dispose of their property, but it may help fraudsters evade paying fees for using the land, according to experts

The Ukrainian Cabinet published an optimistic outlook for the national economy, the energy companies resumed coal deliveries from the zone of the Anti-Terrorist Operation, while Ukraine is in no hurry to purchase Russian gas – these are the main economic news of the past week.

Ukraine is looking for a place for its aviation industry. Technological and economic challenges have to be met amid complete rupture of relations with Russia, which until recently served as Ukraine’s main market and partner. Will it manage to find new forms of cooperation, new ties, and recognition of new customers?

Social Policy Minister Andriy Reva in an interview with UNIAN has told when the Ukrainians should expect a significant increase of social standards, why the retirement age should not be raised today and also how the talks with the IMF are developing.

The Ukrainian Government has reported about the successful talks with the IMF on a new memorandum; Europe has extended sanctions against Russia; and Brexit supporters have won in a UK referendum – these are the main economic news of the past week.