Week's balance: Roundwood timber in exchange for EU aid, slowdown in industrial output, and billions on road safety
To get a billion euros from the European Union, Ukraine will have to meet a number of useful requirements, in particular, to introduce an automatic verification of those astonishing "riches" declared by the country's officials. Meanwhile, the State Statistics Service released data on the slowdown of industrial output, and the Cabinet adopted a large-scale state program to improve road safety and ordered that the Ukrzaliznytsia [Ukrainian Railways] top managers ride trains - these are the main economic news of the outgoing week.
Week's balance: UAH 30 per dollar, burden of minimum wage rise, and energy regulator's staffing issue
The government set Ukraine's budget policy for 2019-2021, predicting a fall of the national currency down to UAH 31.8 per dollar; the IMF issued an outlook for the country's economic development; the finance ministry came out with an unexpected confession that raising minimum wage is impossible, while Prime Minister Groysman named Ukraine's main economic problem - these are the main economic news of the outgoing week.
Week's balance: Partners recommend reforms, Groysman declares war on "secret club of subsoil users," and law enforcers go for useless searches at Ukrzaliznytsia
The World Bank urged Ukraine authorities to speed up reform, Prime Minister Groysman attacked extraction companies from the President's entourage, while law enforcers once again raided the Ukrzaliznytsia headquarters - these are the key economic news of the past week.
Can sanctions against Russian oligarchs hit their Ukraine property
A few years ago, the dependence of the Ukrainian economy on that of its northern neighbor was so strong that a sanctions strike against Russia would ricochet violently over Ukraine. However, despite the fact that the hryvnia today saw no damage from the ruble plunge, a new package of Russia sanctions could still affect certain Ukrainian companies.
Week's balance: Start of sowing campaign and road repairs, new stage of decentralization and delay of rail ticket price hike
The agrarians started the sowing campaign that will cost them at least 10% more than last year, road repairs were launched after a long winter, Ukrzaliznytsia postponed the increase in train ticket prices, while the authorities announced a new stage of decentralization - these are the main economic news of the outgoing pre-Easter week.
Week's balance: FTA with Israel, paradise for low-cost airlines, and record placement of domestic bonds
The Ministry of Finance made a placement of domestic bonds, this year's largest. Ukraine and Israel are finally set to sign off an agreement on a free trade zone. Discount airlines will open new flights from Ukraine. These are the past week's key economic news.
Week's balance: Ryanair in Ukraine, break-up with Russia, billions on roads, and farmers fighting for VAT
The Cabinet of Ministers announced the largest ever road construction and repair efforts in Ukraine, Ryanair discount carrier signed the long-awaited cooperation agreement with the airports Boryspil and Lviv, the government severed economic relations with Russia, while the agrarians continue to demand from deputies to give them back VAT refunds for oilseeds exports - these are the key economic developments of the outgoing week.
Week's balance: Mogherini promises another billion, Smolii takes lead of NBU , hryvnia sees new coins
EU High Representative Federica Mogherini paid a visit to Kyiv, President Petro Poroshenko met with Ukraine's businesses, Parliament finally appointed a new head of the National Bank, who announced the issue of coins instead of small hryvnia bills - these are the key economic news of the outgoing week.
Week's balance: 4G licenses worth UAH 5.4 billion, Gazprom's Stockholm syndrome, and hryvnia ascent
Mobile operators will pay UAH 5.4 billion to the state budget for their 4G licenses, Russia's Gazprom informed Naftogaz of their intention to terminate gas contracts, prompting the European Union to reflect on its energy security, while the hryvnia continues strengthening against higher foreign currency earnings of exporters - these are the main economic news of the outgoing week.
Week's balance: Stockholm victory for Naftogaz, Gazprom's new gas war, and major aid from EU
Naftogaz claimed a resounding victory in the Stockholm Arbitration over Gazprom, in response to which the Russian gas monopoly decided to go for a despicable revenge in contravention of the Swedish court decisions, but Ukraine holds its ground and intends to seek penalties. The National Security and Defense Council extended sanctions against Russian banks, while the European Union promised a new program of macro-financial assistance worth EUR 1 billion - these are the main economic news of the outgoing week.
Week's balance: American locomotives to get on Ukrainian tracks, IMF demanding anti-corruption court, inspections of Ukrainian businesses returning
Ukraine plans to purchase several hundred American diesel locomotives over the next decade, the IMF insists that the country create an Anti-Corruption Court and implement reform of the energy sector, while the government unexpectedly lifted the moratorium on business inspections, and the NBU reported on disappointing performance by banks in 2017 - these are the main economic news of the outgoing week.
Ukraine and IMF: Critical point
Without external financial support, Ukraine will in the coming years not be able to pay back its debts. UNIAN clears up why the country's key creditor, the International Monetary Fund, insists on raising gas prices and creating an independent anti-corruption court in order to continue providing assistance to Kyiv.
Week's balance: IMF mission's visit, government report, Ryanair's second coming
The IMF technical mission visited Kyiv, the Cabinet of Ministers reported on its performance in 2017, while the European discounter Ryanair announced its intention to undertake a second attempt to enter the Ukraine market - these are the key economic news of the past week.
No investment boost for Ukraine despite interest
The investments so necessary for the stable growth of the Ukrainian economy leave much to be desired. Investors are in no hurry to enter the Ukrainian market, and it’s not so much because of the situation in the east of the country, but because of corruption, poor business climate, and a slowdown in reform. Experts are convinced that if nothing changes in the near future, no investment growth is to be expected.
Week’s balance: IMF is back, Naftogaz announces gas purchase from Gazprom, hryvnia growing
IMF’s technical mission is expected to arrive in Kyiv on Feb 12, Naftogaz reported it would soon start purchasing gas from Gazprom, the Verkhovna Rada resumed its work after the New Year holidays, adopting a number of important laws, while the hryvnia rate pleased with the latest strengthening - these are the main economic developments of the outgoing week.
Week’s balance: Cabinet sacks Nasirov, raises UAH 2.5 bln on 4G license sales, while Ukraine’s balance of payments retains surplus
Following a long saga of scandals, the government finally fired head of the Fiscal Service Roman Nasirov. Mobile operators paid UAH 2.5 billion for 4G licenses. The inflow of foreign currency to Ukraine exceeded the outflow. That’s what made the main news this week.
Head of the British Ukrainian Chamber of Commerce Bate Toms: Ukraine already has the largest IT outsourcing sector in Europe and third largest in the world, Ukraine is going to beat the Indians the way you are going.
In an interview with UNIAN, Chairman of the British Ukrainian Chamber of Commerce, Bate Toms, spoke about the factors, besides general corruption, scaring off investors, and on how the problem could be tackled. He also named the areas of Ukrainian economy most attractive to foreign investment and talked about the aspects Ukraine should focus on when cooperating with Britain following Brexit.
Week’s balance: Poroshenko vows reform to IMF and investors, NBU ups outlook for economy growth and fights inflation
Last week, President Petro Poroshenko led a delegation of Ukrainian officials to the World Economic Forum in Davos, where he persuaded IMF Managing Director Christine Lagarde and potential investors in the country’s readiness to continue reforms and fulfill conditions for receiving another tranche of the loan, the National Bank improved its outlook for economic growth for 2018, at the same time pumping up its key rate aiming to tackle inflation, while Naftogaz in an attempt to push the government to accelerate the gas market reform, requested a UAH 110 bln compensation from the budget.
Week’s balance: president selects candidate for top NBU post, Naftogaz says ready to buy gas from Gazprom, and privatization without Russian bidders
Naftogaz confirmed the intention to resume gas imports from Russia, the president finally found a replacement for Valeriya Gontareva at the post of the country's chief banker, the parliament passed a law on privatization barring Russians from purchasing Ukrainian state property, while the IMF criticized pension reform - these are the main economic developments of the outgoing week.
New Year's hryvnia fever
The Ukrainian hryvnia continues to plunge, approaching the historical minimum of UAH 30 to the U.S. dollar. The National Bank considers this New Year's turbulence a seasonal symptom, with which experts agree, predicting the strengthening of the national currency. And the only question is how soon this will happen.