Week's balance: gas price hike, IMF agreement, and budget battles
The Verkhovna Rada made the first step toward adopting the Budget 2019 and considered amendments to the Tax Code, which imply an increase in a number of excises and fees. Meanwhile, Prime Minister Volodymyr Groysman keeps scolding his predecessors for the accumulation of “major debts,” while he himself follows the vicious practice of living beyond means. But perhaps the most important news of the outgoing week is the increase in gas prices for the households, followed by a new agreement with the IMF.
Week's balance: IMF's negative outlook, falling oil prices, and pleasant forex news
The collapse in global stock markets pulled down oil prices, which heralds a reduction in the cost of fuel in Ukraine. At the same time, the IMF has worsened the economic outlook for Ukraine in 2019, not ruling out unemployment growth. At the same time, the hryvnia seems to have stopped its plunge.
Week's balance: Economic outlook by World Bank, delay of large-scale privatization, and 100% readiness for winter
The government reported its readiness for the heating season and approved the starting price and terms of privatization of Centrenergo, while the sale of other state assets was once again postponed to the next year; the World Bank announced its outlook for Ukrainian economic growth and reiterated its call on the country's leadership to continue implementing reforms – these are the main economic developments of the outgoing week.
Week's balance: Awaiting gas tariffs, fighting corruption in construction sector, and new tax evasion schemes in exports
Negotiations with the International Monetary Fund on the next bailout tranche are being delayed due to disagreements over the gas price for the population; the Cabinet declared war on corruption in the construction industry; while agrarians continue to increase trade with the EU, which calls into question the allocation of financial assistance to Ukraine because of the existing tax evasion schemes.
Week's balance: Groysman's budget, Yanukovych's debt, Arab "Mriya," and hunt for Omelyan
Volodymyr Groysman's Cabinet approved the draft budget for 2019, the year to become one of the most difficult ones for the national economy, while negotiations with the IMF are underway on the price of gas for the population; the court in London forwarded the case of "Yanukovych debt" for full-fledged consideration; experts argue about the benefits of IKEA entering the country's market and the purchase by the Saudi company of a Ukrainian agricultural holding Mriya. In the meantime, the public eye was focused on the NABU detectives' hunt for infrastructure minister Volodymyr Omelyan - these are the main economic news of the outgoing week.
Deputy Minister Hrymchak: Projectile hit at Crimean Titan "most probable" version given composition of emissions
Deputy Minister for the temporarily occupied territories, Yuriy Hrymchak, sat down with UNIAN to speak about what happened in northern Crimea's Armyansk at "Crimean Titan" plant, as well as about other more potentially dangerous enterprises located in the occupied peninsula and parts of Donbas.
Week's balance: IMF mission arrives in Kyiv, Rada restarts its work, and Fiscal Service sees top reshuffle
After a long summer vacation, legislators returned to work and adopted a number of important laws; representatives of the IMF, the country's key creditor, flew to Kyiv to negotiate a new bailout tranche; while the State Fiscal Service saw its chief being replaced – these are the main economic news of the outgoing week.
Week's balance: hryvnia continues its fall, while PM Groysman awaits IMF mission
The hryvnia keeps plunging, although the National Bank is trying to slow down its rapid devaluation, while Prime Minister Volodymyr Groysman once again postponed the issue of raising gas prices for the population, this time until October, and, despite the alarming signals coming from the country's economy, remains optimistic about the arrival of the IMF mission - these are the main economic news of the outgoing week.
Week's balance: New debt strategy, growth of industrial output, and turbulence in forex market
The Cabinet of Ministers of Ukraine adopted a three-year strategy for managing public debt, aimed at its active reduction; the growth of industrial output has accelerated; while the foreign exchange market is still in fever - these are the key economic news of the outgoing week.
Ukraine's air shield: Taking off to 21st century
In recent years, the Ukrainian Air Force, together with the defense industry, was actively upgrading the fleet of combat and transport planes and helicopters, as well as air defense systems. Today, Ukraine's designers and manufacturers are ready to take the next step and move to the creation of new weapons.
Week's balance: Economic growth, hryvnia's fall, and "bears" to Moscow instead of trains
The hryvnia accelerated its seasonal decline, the State Statistics Service reported on the acceleration of the country's economic growth in the second quarter, while infrastructure minister Volodymyr Omelyan made new statements on the halt of passenger communication with the aggressor state Russia via railways - these are the week's main economic news.
Week's balance: inflation declining, railways waving good-bye to Russia, and agrarians determined on volumes of grain exports
Ukraine's infrastructure minister Volodymyr Omelyan, in response to the transport blockade by Putin's Russia, announced he was ready to close down passenger railway communication with an aggressive neighbor; the State Statistics Committee reported on the deflation in the consumer market; while agrarians and the Ministry of Agrarian Policy agreed on the volumes of Ukrainian wheat exports – such are the main economic news of the past week.
Week's balance: Empty treasury, Kyiv's struggle for hot water, and selection of privatization advisers
The balance of funds in the single account of Ukraine's State Treasury has dropped to its absolute low over the past four and a half years; Kyiv is looking for opportunities to negotiate with Naftogaz, while purchasing fuel from private entities; the State Property Fund has selected investment advisors to conduct large privatization - these are the main economic news of the outgoing week.
Week's balance: delay with pensions, gas tariff freeze, and privatization restart
The pension fund for the first time in many years failed to ensure the timely payment of pensions, the government once again refused to raise gas prices for the households, while a long-awaited start was given to privatization of smaller-scale state companies - these are the main economic news of the outgoing week.
Week's balance: gas talks in Berlin, offensive on smugglers, barriers in economy
Representatives of Ukraine and Russia governments met in Berlin in an attempt to determine positions in the future gas negotiations; the Cabinet continued its fight against smuggling and, in the framework of economic deregulation efforts, simplified rules for foreigners' employment - these are the main economic news of the outgoing week.
Week's balance: Premonition of default, scandals around energy minister, and victory of "EU-platers"
Ukraine's key business associations in order to avoid default and macro-financial destabilization called on the authorities and IMF to immediately unblock the allocation of $1.9 billion to Ukraine. Minister of energy and coal industry Ihor Nasalyk fought off accusations of cooperation with Russia. People's deputies adopted in the first reading the draft law on preferential customs clearance of cars with European registration – these are the main economic news outgoing week.
Week's balance: Bill on exit capital tax, Groysman vs smuggling, and reform of state banks governance
President Poroshenko suggested that the Rada replace the profit tax with the tax on the capital withdrawn from businesses, the prime minister intimidated shadow importers with some radical methods of fighting them, while the parliament passed a bill on reforming corporate governance in state-owned banks – these are the main economic news of the outgoing week.
Week's balance: Good-bye to small coins, welcome to EU money for Ukraine reform, and latest budget deficit
The National Bank refused from further minting of small coins, Prime Minister Volodymyr Groysman asked the European Union to help with the financing of Ukrainian reforms, while the state budget was reduced to a deficit - these are the key economic news of the outgoing week.
Week's balance: New customs war, currency regulations, and new Supervisory Board in Ukrzaliznytsia
A new customs war: Prime Minister Volodymyr Groysman, anticipating a possible attack on himself, went all-in, deciding to withdraw the Ukrainian customs from under control of the president. The Verkhovna Rada adopted a historic decision - changed the obsolete currency decree by a law declaring the "all is allowed that is not prohibited by law" principle. In one of the most corrupt state companies, Ukrzaliznytsia, elected a supervisory board, which included acclaimed international experts. These are the main economic news of the outgoing week.
Week's balance: War against business harassers, NBU names key financial risks, and Swedish court suspends Gazprom debt collection
Last week, Prime Minister Volodymyr Groysman declared war on law enforcers who continue to exert unlawful pressure on businesses; the National Bank released its new financial stability report, pointing out major risks; and the Swedish Court of Appeal suspended execution of the Stockholm arbitration award obliging Russian Gazprom to pay $2.6 billion in favor of Naftogaz.