Shmyhal outlines five Ukraine’s reconstruction priorities
Speaking at the Luxembourg-Ukraine Business Forum "Rapid Recovery of Ukraine", Prime Minister Denys Shmyhal outlined five rapid reconstruction priorities.
Economy - Latest news
31 January 2023
Despite sanctions, Russia increases microchip imports in 2022 - media
Last year, the Russian Federation significantly increased the import of microchips, exceeding the pre-war level.
Electricity consumption keeps growing in Ukraine due to cold weather
As of 11:00 on January 31, electricity consumption continues to increase due to lower air temperatures, while the power system still experiences a significant deficit in generating capacity.
30 January 2023
Exports of foodstuffs from Odesa ports decreased by third over past week
Exports of foodstuffs from Odesa ports through the "grain corridor" decreased by a third over the past week due to sabotage by the Russian side.
Ukraine invites Kuwait to participate in Grain from Ukraine program
On January 30, 2023, Special Representative of Ukraine for the Middle East and Africa Maksym Subkh in a phone call with Deputy Minister of Foreign Affairs of Kuwait Mansour Al-Otaibi called on Kuwait to join the Grain from Ukraine program.
Zelensky: It's time to expand ‘grain initiative’ to ports of Mykolaiv region
President of Ukraine Volodymyr Zelensky has proposed that the Black Sea Grain Initiative be expanded to the ports of Mykolaiv region.
Iran, Russia link banking systems amid Western sanctions
Iran and Russia have connected their interbank communication and transfer systems to boost trade and financial transactions in the wake of Western sanctions imposed against both nations.
EU will consider ways to support Ukraine’s agricultural sector
On January 30, the EU Agriculture and Fisheries Council in Brussels will, among other issues, reaffirm solidarity with Ukraine and consider further ways to support its agricultural sector.
G7, EU ambassadors expect Ukraine to resume e-declaration, anti-corruption program
The ambassadors of the Group of Seven and the European Union expect Ukraine to resume electronic declaration and approve the State Anti-Corruption Program.
29 January 2023
Ukraine proposes creating mechanism for auditing US aid for recovery projects
Ukraine has proposed creating a mechanism for auditing the aid provided by the United States for recovery projects, together with the U.S. Government Accountability Office.
NATO allies should shift to “war economy” - military committee chief
In the wake of Russia’s unprovoked aggression toward Ukraine, NATO member states should move to the “war economy” in peacetime.
Generation deficit in power system remains “significant” amid repair at TPP unit - Ukrenergo
The deficit in the energy system of Ukraine is still significant as one of the power units at an unspecified thermal power plant is currently under repair due to technical reasons.
28 January 2023
Zelensky approves sanctions against companies, individuals involved in transportation of Russian soldiers, equipment
Ukrainian President Volodymyr Zelensky has signed a decree implementing the decision by the National Security and Defense Council of Ukraine on the introduction of sanctions against legal entities and individuals that Russia is using to transport military equipment and soldiers by rail.
Ukrainian Defense Ministry signs 16 contracts with domestic UAV manufacturers
The Ukrainian Defense Ministry has concluded 16 contracts with Ukrainian manufacturers of unmanned aerial vehicles, with about UAH 20 billion to be spent on this segment this year.
27 January 2023
Shmyhal: Five high-voltage substations damaged during Russia’s latest massive attack
During the 13th large-scale attack on energy facilities, enemy missiles hit five high-voltage substations in the central, southern, and southwestern regions.
War-related direct losses of Ukrainian businesses reach $13B - research
Due to the Russian full-scale invasion, at least 109 large and medium-sized Ukrainian enterprises of various forms of ownership suffered direct losses, estimated at a total of $13 billion.
Bulker carrying 16,000 t of Ukrainian grain passes inspection in Istanbul
As the Joint Coordination Center in Istanbul continues its work within the framework of the Black Sea Grain Initiative, a bulk carrier with 16,000 tonnes of Ukrainian wheat on board, bound for Afghanistan, passed the relevant inspection earlier today.
26 January 2023
EU announces launch of Donor Coordination Platform to support Ukraine's recovery
The European Union announced the launch of the Multi-agency Donor Coordination Platform to support Ukraine's repair, recovery and reconstruction after the destruction caused by Russian aggression.
Ukraine has exported 2.4M tonnes of grain in January
This month, Ukraine has exported 2.4 million tonnes of grain through the grain corridor.
U.S. Treasury hits Russian defense industry, Wagner Group with more sanctions
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has taken additional actions to degrade the Russian Federation’s capacity to wage war against Ukraine by sanctioning six individuals and 12 entities.
Capital city, Kyiv region returning to stabilization blackouts
The city of Kyiv and Kyiv region are returning to the previous schedules of stabilization power outages.
National Bank expects economy to start rebounding as early as this year
The National Bank expects the economy to grow by 0.3% this year, by 4.1% in 2024, and by 6.4% in 2025.
Japanese Agency for International Cooperation resumes operations in Ukraine - PM Shmyhal
The Japan International Cooperation Agency (JICA) is resuming its work in Ukraine, set to focus on recovery issues.
Inflation to slow down to 18.7% in 2023 - NBU outlook
The National Bank predicts a slowdown in inflation to 18.7% in 2023. This will be facilitated by continued tight monetary conditions, a decrease in global inflation, and weak consumer demand amid power outages.
25 January 2023
Russia has caused almost $138 billion in damage to Ukraine’s infrastructure – KSE
As of December 2022, the total amount of damage to Ukraine’s infrastructure due to the war is estimated at $137.8 billion. The amount has increased by almost $2 billion since November.
24 January 2023
Construction project for Bayraktar manufacturing plant completed in Ukraine
The legal framework has been formed and a project has been completed in relation to the construction of Bayraktar TB2 manufacturing plant in Ukraine.
Ambassador of Ukraine: Grain agreement proves its viability, extension pending
The grain agreement, which will expire in less than 60 days, has proven its viability, and the issue of its extension is currently pending.
PM Shmyhal announces launch of financial ‘Ramstein format’
The G7 countries have created a platform to coordinate the financing of reconstruction works and reforms in Ukraine. The first meeting of the Secretariat is scheduled for this week.
NPPs cover 55% of Ukraine’s power consumption - Energoatom
About 55% of the total electricity consumption is covered by eight nuclear power plant units operating in the government-controlled territory.
Electricity generation up in Ukraine, while deficit remains significant - Ukrenergo
Electricity generation has increased in Ukraine but the capacity deficit is still significant.