Ukraine imports electricity from Poland through updated line
For the first time, Ukraine imported electricity from Poland via an interstate power line, which Ukrenergo modernized and switched on in May 2023.
Economy - Latest news
17 July 2023
Russia announces termination of grain deal (updated)
On Monday, the Russian side sent its objections to the extension of the grain deal to Türkiye, Ukraine, and the UN and de facto suspended it.
Moscow has no lines it cannot cross, after Kakhovka, Russians may attack ZNPP next - Galushchenko
Ukrainian Energy Minister German Galushchenko believes that Russia has no lines it cannot cross. After the Kakhovka hydroelectric power plant (HPP) dam, the next Russian terrorist attack could be on Zaporizhzhia NPP.
16 July 2023
Ukrzaliznytsia is in talks on expanding cooperation with Republic of Korea
JSC Ukrzaliznytsia (Ukrainian Railways) relies on further fruitful intergovernmental cooperation with the Republic of Korea, which will benefit hundreds of thousands of Ukrainian passengers.
Last ship with Ukrainian grain leaves port of Odesa ahead of grain deal deadline - media
The last ship to travel under a UN-brokered deal that allows the safe Black Sea export of Ukrainian grain left the port of Odesa early on Sunday ahead of a deadline to extend the agreement.
Failure to extend grain deal will cost Russia dearly - Biden's adviser
If the Russian authorities do not extend the Black Sea Grain Agreement, it will come at an enormous diplomatic cost to Russia.
International partners allocate more than $23B to finance Ukraine’s budget deficit – PM Shmyhal
In the first half of 2023, Ukraine’s state budget received UAH 1.302 trillion worth of tax payments, duties and other charges. During that period, international partners also allocated more than USD 23 billion to finance Ukraine’s budget deficit.
Economy Ministry: American business interested in participating in energy sector reconstruction
American investors are interested in participating in projects to restore and modernize the energy sector.
NBU sells almost $402M on interbank market in past week
The National Bank of Ukraine (NBU) sold $401.58 million on the interbank foreign exchange market over the past week.
U-LEAD to help 24 communities develop territorial recovery plans
U-LEAD with Europe has started providing support to 24 selected communities in the development of comprehensive territorial recovery programs and community recovery and development plans.
15 July 2023
South Korea to increase assistance to Ukraine to $150M
The Republic of Korea will increase assistance to Ukraine to $150 million this year.
Disbursement of ₴5.15B from Liquidation Fund proposed for restoration of 139 objects
The Interdepartmental working group recommended allocating UAH 5.15 billion from the Fund for Liquidation of the Consequences of Armed Aggression of the Russian Federation for the implementation of 139 projects.
Ministry of Agrarian Policy: Grain yield this year will drop by no more than 5%
The Ministry of Agrarian Policy and Food predicts an overall decline in grain yield within 5% compared to last year.
Isuzu Motors leaving Russian market - media
Japanese truck manufacturer Isuzu Motors Ltd. is completely leaving Russian market.
Ukraine set to return 470,000 ha of agri-land to operation this year - Svyrydenko
Ukraine plans to increase the number of humanitarian demining programs and return up to 35% (470,000 hectares) of potentially contaminated 170,000 square kilometers of agricultural land this year.
Bankruptcy proceedings for Ukrainian companies simplified during martial law
The Verkhovna Rada, Ukraine’s parliament, adopted the draft law in its entirety that introduces a simplified bankruptcy procedure for business entities during martial law.
14 July 2023
Blinken: Grain initiative should be extended and expanded for food security
U.S. Secretary of State Antony Blinken pointed to the need to extend and expand the Black Sea Grain Initiative as it is important for many developing countries and for global food security in general.
PM: Enough funds on ground not to raise tariffs
In January-June of this year, the revenues of local budgets see an increase, so local funds are sufficient to finance utility companies and avoid raising tariffs for the population.
EU to consider creating €50B Ukraine Fund on Friday
The Economic and Financial Affairs Council (ECOFIN), which is taking place on July 14 in Brussels, will for the first time consider the European Commission's proposals for revising the EU's 2024-2027 multiannual budget, which includes the creation of EUR 50 billion Ukraine Fund.
Ukraine harvests over 2.1M t of new crop grain
As of July 14, 2023, Ukraine harvested 2.157 million tonnes of grains and legumes on 643,800 hectares with a yield of 33.5 centners/ha.
South Korea to offer Ukraine reconstruction projects worth $52B
South Korea will offer comprehensive support from both the public and private sectors for Ukraine's USD 52 billion reconstruction projects.
13 July 2023
Nuclear scientific hub to be built in Slavutych
North Ukrainian nuclear scientific hub will be built in Slavutych town, Kyiv region, for the development of the scientific and business component of nuclear power and the search for solutions for the development of green energy in the country.
Ukraine receives $3.87B for rapid recovery this year
In the first months of 2023, Ukraine managed to mobilize the necessary international support to ensure macro-financial stability, while only $3.87 billion was received for the rapid recovery needs.
UN asks Putin to extend grain deal in exchange for SWIFT access - media
UN Secretary-General Antonio Guterres has proposed to Russian President Vladimir Putin that he extend a deal allowing the safe Black Sea export of grain from Ukraine in return for connecting a subsidiary of Russia's agricultural bank to the SWIFT international payment system.
In Ukraine, only 1% of retail outlets closed - RAU
Since the start of Russia's full-scale invasion, 99% of retail outlets have resumed operations, with only 210 stores remaining closed among those that have ceased operations since February 24, 2022.
UN Secretary General should join in ensuring further grain corridor operation - Zelensky
The President of Ukraine, Volodymyr Zelensky, believes that UN Secretary General António Guterres should join in ensuring the stable operation of the grain corridor.
ZNPP preparing to transfer unit 4 from cold to hot shutdown state - IAEA
No explosives were found on the territory of Zaporizhzhia NPP, but experts did not gain access to all premises.
Ukrainians register record number of businesses in June - opendatabot
In June, Ukrainians registered the largest number of new businesses in the last three years (almost 31,500).
NBU: Inflation in Ukraine slows down sharply in H1
Inflation in Ukraine slowed sharply in the first half of the year, driven by the National Bank of Ukraine's (NBU) measures to ensure exchange rate stability, sufficient domestic food supply, and rapid business adaptation to the new challenges of Russia's war.
12 July 2023
Ukraine to increase agri-production to 200M t in 10 years - agrarian ministry
After winning Russia's war, Ukraine will be able to increase its agricultural production to 200 million tonnes in 10 years and feed 600 million people on the planet every year.