Draft state budget for 2025 includes more than UAH 55B for weapons production
Ukraine’s draft state budget for 2025 envisages more than UAH 55 billion for the production of weapons and military equipment.
Economy - Latest news
13 November 2024
Smetanin, Borrell discuss integrating Ukraine’s defense industry into European defense sector
Ukrainian Strategic Industries Minister Herman Smetanin and EU High Representative for Foreign Affairs and Security Policy Josep Borrell have discussed the issues related to integrating Ukraine’s defense industry into the European defense sector.
12 November 2024
Ukraine completing creation of three new joint ventures with European armsmakers
Ukraine is close to setting up three new joint ventures with European weapons producers, and five joint ventures have already been set up.
Occupiers continuing to export coal from 'LPR' despite sanctions
Despite the sanctions imposed on Russian invaders, the coal stolen in the temporarily captured Luhansk region continues to be exported to several countries.
Some 90% of SMEs resume operations in Mykolaiv region’s de-occupied Snihurivka community
In the Mykolaiv region’s de-occupied Snihurivka community, 90% of small and medium-sized enterprises (SMEs) have resumed operations.
Zhytomyr region’s Berdychiv sees increased number of individual entrepreneurs since war started
Over the past two years, the number of those who started their own business or registered as an individual entrepreneur has increased in the Zhytomyr region’s city of Berdychiv.
11 November 2024
IMF mission, Ukrainian authorities start discussions on sixth review of EFF Arrangement
Officials from the Ministry of Finance of Ukraine, the National Bank of Ukraine, and staff from the International Monetary Fund have commenced discussions on the sixth review of the Extended Fund Facility (EFF) Arrangement.
Naftogaz Group launches new gas well with daily production rate of 110,000 cu m
Ukrgasvydobuvannya JSC, which is part of Naftogaz Group, has put into service a new appraisal-development well that is 5,920 meters deep and has a daily production rate of 110,000 cubic meters of natural gas.
Emergency power outages introduced in Kyiv and four regions
Due to the threat of a missile strike, emergency power outages have been introduced in Kyiv.
10 November 2024
Gazprom withdrawn from Latvijas gāze
In October, 34% of AS Latvijas gāze (Latvian Gas, LG) shares were bought back from the Russian company Gazprom.
09 November 2024
Naftogaz delivers power supply stations to vulnerable categories in Kharkiv region
The harshest winter is approaching. Due to Russian shelling, Ukrainians risk facing power outages once again. In cold weather, it is crucial to support those who need it the most.
Energy workers restore power to over 1,860 consumers affected by hostilities
Yesterday, energy workers restored electricity to 1,861 consumers who had been left without power due to ongoing hostilities.
Ukraine terminates air transport agreement with Iran
The Cabinet of Ministers of Ukraine has terminated an intergovernmental air transport agreement with Iran.
Ukraine receives EUR 12B for fulfilling Ukraine Facility indicators in H1 2024
Ukraine received EUR 12 billion from the European Union under the Ukraine Facility for progress in implementing the Ukraine Plan in January-June 2024.
Ukraine already harvests 68.9M tonnes of grain, oilseed crops
As of November 8, 2024, a total of 68.9 million tonnes of the new-harvest crops were gathered across Ukraine.
Ukraine, UK sign memorandum launching Green Transition Office
The Ukrainian Economy Ministry and the Foreign, Commonwealth and Development Office of the Government of the United Kingdom have signed a Memorandum of Understanding on establishing enhanced cooperation and launching the Green Transition Office.
08 November 2024
Government approves draft state budget for 2025 for second reading
The Government has endorsed the draft state budget for 2025 for the second reading.
Ukraine to receive $1.37B for social spending through World Bank
On November 8, the Ministry of Finance of Ukraine and the World Bank signed a grant agreement to raise about $1.37 billion under the PEACE in Ukraine project to finance social and humanitarian expenditures.
Ukraine needs out-of-the-box solutions to achieve climate goals – expert’s opinion
Amid the full-scale war, Ukraine has to seek non-standard solutions and technologies, and develop in bursts in order to achieve climate goals until 2030.
Fortification works in Odesa region 99% complete – PM Shmyhal
The state has allocated nearly UAH 2.7 billion for fortification works in Odesa region, with 99% of the planned work completed to date.
PM Shmyhal inspects energy facilities in Odesa region
As part of his working visit to Odesa region, Prime Minister Denys Shmyhal inspected the operation of various energy facilities, including a thermal power generation site.
Vinnytsia region produces 188,000 t of sugar as of Nov 8
The Vinnytsia region’s sugar refineries have already produced 188,000 tonnes of sugar.
NBU predicts utility tariffs will remain unchanged in 2025
The National Bank of Ukraine (NBU) expects the current tariffs for natural gas, heating and hot water supply not to be revised next year.
All available funds to support Ukraine will be used before end of Biden's presidential term – Pentagon
The U.S. Department of Defense has stated that all remaining funds for programmes to support Ukraine will be used before the end of Joe Biden's presidential term.
World Bank announces USD 750M support package for Ukraine – PM
The World Bank has announced a new support package for Ukraine amounting to USD 750 million.
Ukraine can become key to solving EU’s economic challenges - Vice PM
Ukraine is able to provide significant added value to the economy of the European Union and help it solve the key challenges laid down in the report drawn by the former President of the European Central Bank and former Prime Minister of Italy, Mario Draghi.
Ukraine planning to enhance cooperation with EIB – President’s Office
Deputy Head of the Office of the President of Ukraine Iryna Mudra met with the newly appointed Head of the European Investment Bank’s Regional Hub for Eastern Europe Kristina Mikulova.
Finance Ministry, GLOBSEC discuss prospects for Ukraine's economic recovery
Ukrainian Finance Minister Sergii Marchenko and Deputy Finance Minister Oleksandr Kava have met with John Barter, Senior Vice President at the security and development think tank GLOBSEC, to discuss prospects for Ukraine's economic recovery.
Ukraine’s electricity imports cut by 58% in Oct 2024 – DiXi Group
Last month Ukraine’s electricity imports reduced by 58% to 181.8 thousand megawatt-hours compared to September 2024. Meanwhile, the export of electricity increased by 88 times to 60.7 thousand megawatt-hours.
07 November 2024
Naftogaz steadily increasing gas production – CEO Chernyshov
Naftogaz Group’s companies have been steadily increasing natural gas production volumes for two years in a row to fully meet the needs of Ukrainians, and are planning to further develop the gas production sector.