Week's balance: Cabinet allows reopening of non-food markets, Rada eases taxes for businesses pending quarantine, hryvnia beefs up
The Cabinet of Ministers decided to open non-food markets across country, the Verkhovna Rada eased tax pressure on businesses for the quarantine period and supported the arts and entertainment industries, while the national currency showed a slight, but steady growth.
14:00, 17 May 2020
The crisis provoked by the coronavirus pandemic dealt a severe blow to civil aviation worldwide. Air carriers around the world are laying off personnel, while some have already filed for bankruptcy. Governments of the world's leading economies are allocating enormous funds to help one of the key industries. But what can Ukraine do to save its aviation?
16:05, 14 May 2020
Week's balance: Cabinet extends quarantine along with easing, energy ministry limits operations of nuclear power plants, while NBU forecasts GDP decline
The government has extended the national quarantine until May 22, while making a number of concessions to a part of small businesses; the National Bank says Q2 will be the most difficult period for the Ukrainian economy, while the energy ministry has started limiting nuclear generation, at the same time mulling crypto mining at NPPs.
16:00, 10 May 2020
Week's balance: Cabinet allows food markets to reopen, limits salaries to CEOs of state-owned companies, while National Bank introduces new coin
The Cabinet of Ministers decided to support small businesses amid quarantine, having allowed food markets to reopen across country, and cut the already sky-high salaries to heads of state-owned enterprises, while the National Bank said it would be putting in circulation a new UAH 10 coin.
14:40, 03 May 2020
A new trend is emerging on Ukraine's power generation market: the more expensive solar and wind energy, which has been prioritized, replacing the cheaper nuclear and coal. UNIAN has learned what this will mean for Ukrainian consumers.
14:00, 30 April 2020
Week's balance: Cabinet extends quarantine, sacks customs and tax chiefs, while central bank lowers key rate
The Cabinet of Ministers decided to extend the national quarantine until May 11 and dismissed heads of customs and tax agencies, while the National Bank brought its key rate to a five-year low – these are the major economic developments of the past week.
17:20, 25 April 2020
Week's balance: "anti-crisis" budget, interest-free loans for small businesses, and $135 mln aid to fight coronavirus
The Verkhovna Rada has passed "anti-crisis" changes to the state budget, almost tripling its deficit, the Cabinet vowed loans to small businesses at zero rate, while the World Bank announced $135 million aid to modernize health care and tackle the novel coronavirus – these are key economic developments of the outgoing week.
17:00, 19 April 2020
At an extraordinary session, the Verkhovna Rada conducted a sequestration of the state budget, almost tripling its deficit to 7.5% of GDP at the Cabinet's suggestion. Under quarantine, deputies significantly reduced revenues, but at the same time raised spending on the fight against the coronavirus spread. However, there is no certainty that even such an updated budget will not undergo further changes.
13:20, 15 April 2020
Week's balance: Gov't announces economy restart, launching citizen tracking application, while inflation keeps rising
Prime Minister Denys Shmyhal has dispelled hopes for an early completion of quarantine and announced a restart of the economy, which government forecasts say could drop 5% this year due to rising inflation and unemployment, while a special application has been launched to monitor the observance of self-isolation rules by Ukrainians – these are the key economic developments of the outgoing week.
21:40, 11 April 2020
Week's balance: Rada launches land market and approves new finance minister, while Ukrainian economy struggles to survive coronavirus crisis
The Rada has passed a historic law on the launch of the land market from July 2021 and replaced the head of the Ministry of Finance, while the Cabinet of Ministers promised to consider the possibility of easing quarantine to support the economy – these are the key economic news of the past week.
17:50, 04 April 2020
The Verkhovna Rada on Monday appointed a new head of the Ministry of Finance, a young economist with experience in government work Serhiy Marchenko. UNIAN learned the reasons why his predecessor Ihor Umansky, who had worked in office for only three weeks, was fired, as well as new tasks facing the new minister of a country in quarantine.
16:00, 02 April 2020
The Verkhovna Rada has passed a bill, submitted by government, on additional social and economic guarantees in connection with the coronavirus epidemic. Businesses assure that the measures being taken are not enough to get the country out of the crisis. UNIAN learned about the ways the Cabinet is going to help the Ukrainians, and things to which they turned a blind eye.
18:30, 01 April 2020
The coronavirus pandemic posed a difficult task for the country's food system: to provide Ukrainians with essentials amid quarantine and austerity. UNIAN learned whether the agricultural sector will have a sufficient safety cushion to pass this test, and how much food prices will rise.
14:20, 31 March 2020
Week's balance: Cabinet extends quarantine, hryvnia stops sliding, and pace of industrial output decline slows down
To reduce the pace of coronavirus spread, the government introduced an emergency situation regime, extended the national quarantine for three weeks, and supported subsidies for vulnerable citizens; the banks received more cash currency, and the hryvnia slightly strengthened after several weeks of decline; while the decline in industrial output slowed down – these are the main economic developments of the outgoing week.
14:20, 28 March 2020
Food prices have risen sharply in Ukraine, while sellers justify their moves with tough quarantine measures and the sliding hryvnia. Experts say the reasons are completely different. UNIAN has tried to figure out what's really happening and whether prices will return to their previous positions.
21:20, 25 March 2020
Week's balance: Ukraine on lockdown, central bank loosens grip, and Cabinet launches war against mafia in urban development
Ukrainian authorities announced the introduction of a nationwide quarantine, adding anxiety to the fever of the forex market; the National Bank lowered the key rate to a five-year low; while the Cabinet liquidated the urban construction regulator and launched a reform in the field – these are the main economic developments of the outgoing week.
13:40, 15 March 2020
Week's balance: Parliament reshuffles Cabinet, coronavirus reaches Ukraine, while Turkish company vows completion of Dnipro bridge in Zaporizhia
The coronavirus epidemic spreading around the planet has reached Ukraine, Parliament has dismissed the Cabinet of Oleksiy Honcharuk, appointing Denys Shmyhal new prime minister, while Ukravtodor signed an agreement with the Turkish company Onur to build a bridge across the Dnipro River in Zaporizhia for UAH 12 billion – these are the main economic developments of the outgoing week.
16:30, 08 March 2020
The Verkhovna Rada at an extraordinary meeting on March 4, initiated by President Volodymyr Zelensky, dismissed Prime Minister Oleksiy Honcharuk and approved the new Cabinet composition. UNIAN tried to figure out what Ukrainians should expect from the new government.
16:20, 05 March 2020
Week's balance: Coronavirus provoking global financial crisis, Zelensky promises miners to pay off wage arrears, while government submitted plan to support key industries
The large drop in stock market indices caused by the spread of the Chinese coronavirus made many suggest a new financial crisis, President Volodymyr Zelensky instructed the government to pay wage arrears to miners and limit coal imports, while the Cabinet announced a plan to support key industries – these are the main economic developments of the past week.
16:30, 29 February 2020
NBU Deputy Governor Dmytro Solohub: Most of IMF requirements for a new program have been met. And work on prior actions that have not yet been completed is almost finished
Lending rates in Ukraine are several times higher than those in European countries. NBU Deputy Chairman Dmytro Solohub sat down with UNIAN to tell about the reasons for such pricing by banks, the likelihood of cheaper loans, and the impact of the coronavirus epidemic on the national economy.
18:30, 27 February 2020