Ukraine's losses from downtime of ships sailing through grain corridor increase to over $1B – UGA
According to Ukrainian Grain Association (UGA), Ukraine suffered more than USD 1 billion in losses due to vessel downtime in the grain corridor queues.
Economy - Latest news
25 May 2023
Reconstruction: Ukraine signs five-year memorandum with South Korea
Ukraine's Ministry for Communities, Territories and Infrastructure Development and South Korea's Ministry of Land, Infrastructure and Transport have signed a memorandum on strengthening cooperation in the field of reconstruction of Ukraine.
Ukraine’s Ministry of Infrastructure, EIB start selecting reconstruction projects
The Ministry for Communities, Territories and Infrastructure Development of Ukraine and the European Investment Bank have started to select projects for the reconstruction, recovery and capital repair of schools, kindergartens, administrative centers, housing and utility facilities, as well as projects on the provision of internally displaced persons with housing.
Only Hungary still maintains unilateral restrictions on agri-imports from Ukraine
Hungary remains the only neighboring country of Ukraine that still maintains unilateral restrictions against Ukrainian agricultural imports.
Russia's Central bank is also at war with Ukraine - Bloomberg
Since the invasion of Ukraine, President Vladimir Putin has increasingly put the Russian economy on a war footing. The Central Bank of the Russian Federation is taking an active part in this.
Government allocates UAH 588M for seven regions to implement reconstruction projects – PM Shmyhal
The Cabinet of Ministers of Ukraine is allocating UAH 588 million for the budgets in the Dnipropetrovsk, Donetsk, Zaporizhzhia, Kyiv, Odesa, Poltava and Kharkiv regions to implement reconstruction projects this year.
24 May 2023
Since the start of Russia's war, 29 foreign vessels remain in Mykolaiv ports – Kim
Since the beginning of Russia's full-scale war, 29 foreign ships with cargo have been in Mykolaiv ports waiting to go to sea.
Russia resorts to clear violations of grain deal again - Department of State
The U.S. Department of State has called Russia's attempts to impede maritime traffic with Ukrainian grain at one of the three seaports covered by the agreement a clear violation of the Black Sea Grain Initiative.
Ukraine reports stunning UAH 8 trillion in environmental damage due to Russian war
The amount of damage inflicted by Russian forces on Ukraine’s subsoil, atmospheric air, water, and land resources is estimated at UAH 8 trillion.
Ukraine, Spain discuss agricultural exports towards Europe
Ukrainian Agrarian Policy and Food Minister Mykola Solskyi and Spanish Agriculture, Fisheries and Food Minister Luis Planas Puchades have discussed the export of Ukrainian-produced agricultural products towards Europe.
Ukraine, Germany launching new green recovery project
Ukraine and Germany are launching a new project for Ukrainian communities, Renewables for Resilient Ukraine – R2U, which is the first stage of bilateral arrangements on deepening partnership in terms of green restoration.
23 May 2023
Colombia and Zambia to be first to implement Ukraine's Diia - USAID chief
Colombia and Zambia will be the first countries to start implementing the Ukrainian e-government application Diia with the support of the U.S. Agency for International Development.
EC transfers 4th tranche of aid to Ukraine for €1.5B
The European Commission (EC) has transferred another tranche of EUR 1.5 billion to Ukraine as part of the emergency macro-financial assistance package agreed in the EU last year.
IMF mission starts discussing revision of Ukraine's programme
The International Monetary Fund mission, together with representatives of the Ukrainian authorities, is starting to discuss measures in the context of the first review of the Extended Fund Facility (EFF) programme.
German, Hungarian foreign ministers argue over OTP bank's role in Russia's war against Ukraine
The foreign ministers of Germany and Hungary argued at a meeting of foreign ministers in Brussels over the role of the Hungarian bank OTP in the Russian war against Ukraine.
Russia’s budget deficit rises to RUB 4.1 trillion - Yermak
Russia's budget deficit as of May 18 reached 4.1 trillion roubles, which is 17% over the target for 2023.
Naftogaz stocking up on gas, preparing for challenging winter
NJSC Naftogaz of Ukraine in preparing for the 2023/2024 heating season is updating the networks and equipment at heating generation enterprises, as well as accumulating gas reserves.
PM Shmyhal expects underground facilities to accumulate over 14 bcm of gas prior to heating season
At the beginning of the next autumn and winter period, Ukraine’s underground gas storage facilities are expected to contain more than 14 billion cubic meters of natural gas.
First review of IMF’s program for Ukraine kicking off in Vienna on Tuesday
Prime Minister Denys Shmyhal of Ukraine discussed with Alfred Kammer, Director of the European Department of the International Monetary Fund, the start of the mission on the first review of the IMF's lending program, the Fund's assistance in Ukraine recovery.
Four high-rise buildings renovated at expense of local budget in Zaporizhzhia
In Zaporizhzhia, 11 buildings were damaged as a result of hostile attacks, 4 of which will be repaired at the expense of the local budget.
First stage of Tylihul wind farm launches in Mykolaiv region - Zamazeeva
The head of the State Agency on Energy Efficiency and Energy Saving of Ukraine (SAEEES), Anna Zamazeeva, wrote about this on her Facebook page, Ukrinform reports.
NBU sells $391.96M on interbank market in past week
The National Bank of Ukraine (NBU) sold $391.96 million on the interbank foreign exchange market over the past week.
22 May 2023
Ukraine calls on Latvian business to join recovery efforts - Ministry of Economy
Ukraine is counting on the support from Latvian businesses in the reconstruction of the country and suggests that the national Export Credit Agency consider the possibility of financing not only trade contracts but also investment deals.
Everything ready for Mykolaiv ports to join grain corridor - Kim
The head of the Mykolaiv regional military administration, Vitaliy Kim, said that there are currently no official data on the ports of Mykolaiv joining the grain corridor.
Ukrainian agriculture suffers $40.2B in losses due to Russia's war - KSE
According to estimates by the Center for food and land use research at the Kyiv School of Economics (KSE Agrocenter), the Ukrainian agricultural sector suffered USD 40.2 billion in direct and indirect losses as a result of Russia's full-scale war.
Agrofusion plant resumes operations in de-occupied Snihurivka district - Kim
Agrofusion's plant in the de-occupied Snihurivka district (Mykolaiv region) resumes operations.
Finnish Gasum terminates gas contract with Russian Gazprom
Finnish state-owned company Gasum said on Monday that it had terminated a contract to buy natural gas from Russia's Gazprom Export through Russia's gas pipelines.
South Korea offering "smart city" platforms for Ukraine recovery
The Minister of Lands, Infrastructure and Transport of South Korea Won Hee-ryong is off to Poland, where he will meet with Ukraine’s officials to discuss the projects of the nation’s post-war reconstruction.
21 May 2023
Unblocking Mykolaiv ports would allow Ukraine to double agri-exports - minister
If the ports of Mykolaiv are ultimately unblocked, Ukraine will double the export of agricultural products.
Ukraine’s annual agricultural production to cut by 10% compared to 2022 – Vysotskyi
In 2023, Ukraine’s agricultural production volumes will reduce by 10% compared to 2022. However, the productive capacity and exports will be maintained.