Naftogaz to receive distributed generation equipment from Norway
Naftogaz Group expects to receive equipment shipments from Norway, which will add 80 megawatts in capacity to Ukraine’s energy system.
Economy - Latest news
29 October 2024
Ukraine joins International Fund for Agricultural Development
Ukraine has become a member state of the International Fund for Agricultural Development (IFAD) that works to develop rural economies and food systems.
28 October 2024
Parliamentary Budget Committee recommends State Budget 2025 for first reading
The Budget Committee of the Verkhovna Rada has recommended the draft State Budget of Ukraine for 2025 and the draft Budget Conclusions for the first reading; their review in the session hall is expected in the coming days.
Finance Ministry expects to attract over $15B in external financing by year-end
Ukraine’s Ministry of Finance expects to attract more than USD 15 billion in external financing by the end of the year.
Ternopil region’s residents obtain business development grants worth UAH 170M
More than 1,500 new jobs will be created in the Ternopil region thanks to grant assistance for the creation and development of own businesses.
At Naftogaz’s request, court in Helsinki freezes certain Russian assets in Finland
The District Court of Helsinki has sustained a motion of Naftogaz of Ukraine NJSC and another five companies, which are part of Naftogaz Group, and ordered the freezing of certain assets owned by Russia on the territory of Finland.
Running low on resources, Russia still able to sustain war effort - media
The huge burden that the war lays on Russia’s economy lead to its overheating, but the Kremlin still has the resources to pursue the war.
Russians set to export over 300t of sunflower crop from occupied Luhansk region - watchdog
The Russian invaders intend to "export" from the temporarily occupied Luhansk region more than 300 tons of sunflower seed, which they "bought" from local farmers at dumped prices.
27 October 2024
G7 finance ministers acknowledge price cap violations on Russian oil
The finance ministers of the Group of Seven (G7) pledged to increase efforts to prevent Russia from circumventing sanctions related to the oil price cap.
Over 500 Ukrainian settlements in blackout due to hostilities, technological failures
As of the morning of October 27, as many as 528 settlements in Ukraine remain partially or completely without electricity due to combat actions and technological disruptions.
26 October 2024
Minister of Strategic Industries meets Indian Ambassador to discuss defense industry cooperation
Minister of Strategic Industries Herman Smetanin held discussions with Indian Ambassador Ravi Shankar regarding the potential cooperation between Ukraine and India in the defense industry.
Russia seeks to weaken Ukraine’s economy, force it out of foreign markets – FM
On Saturday, October 26, during a visit to Egypt, Ukrainian Foreign Minister Andrii Sybiha held bilateral talks in Cairo with the Egyptian Minister of Foreign Affairs, Migration, and Affairs of Egyptians Abroad, Badr Abdel Ati.
Ambassador Markarova: Ukraine's goal is to confiscate all frozen Russian sovereign assets
Along with using the proceeds from frozen Russian assets for the benefit of Ukraine through a $50 billion loan from the G7 countries, Ukraine is collaborating with partners to confiscate the full amount of blocked Russian assets, estimated at approximately $300 billion.
European Commission welcomes G7 consensus on EUR 45B in financial assistance to Ukraine
The European Commission has welcomed the announced consensus reached by the Group of Seven leaders to collectively provide financial assistance to Ukraine in the form of a €45 billion macro-financial loan to be serviced from frozen Russian assets.
G7 reaches consensus on $50B loan for Ukraine backed by frozen Russian assets
The Group of Seven leaders have reached a consensus on the procedure for providing Ukraine with a $50 billion loan from frozen Russian assets.
Ukraine allocates UAH 1.3T for defense sector in Jan-Sept 2024
In January-September 2024, Ukraine allocated UAH 1.3 trillion from the state budget for the security and defense sector, including UAH 146.9 billion in September.
Trade turnover between Ukraine, Portugal up by $29.2M since early 2024
In January-August 2024, the bilateral trade turnover between Ukraine and the Portuguese Republic increased by USD 29.2 million (+15.1%).
Made in Ukraine: Initiative on acquaintance with Ukrainian quality presented in Washington
The Made in Ukraine programme, aimed at increasing the production of Ukrainian high-quality goods and their promotion across the globe, was presented at Ukraine House in Washington on Thursday, October 24, 2024.
Ukrainian energy industry receives over 19,000t of humanitarian aid since Russian invasion
Since the outset of Russia’s full-scale invasion, Ukrainian energy companies have received 19,200 tons of humanitarian aid from 36 countries.
25 October 2024
Russia not added to FATF 'blacklist' again; membership remains suspended
The Financial Action Task Force (FATF) did not add Russia to its ‘blacklist,’ instead reiterating that the suspension of Russia’s membership remains in effect.
Ukraine to receive $50B from G7, EU this year – PM Shmyhal
The European Union, the United States, and the United Kingdom have agreed to provide Ukraine with financial support from frozen Russian assets, with $50 billion to be made available as early as this year.
Vinnytsia region produces 140,000 t of sugar
The Vinnytsia region’s sugar refineries have already produced 140,000 tonnes of sugar.
Over 3.3M tons of grain harvested in Vinnytsia region
As of October 25, Vinnytsia agrarians have harvested over 3.3 million tons of grain, having collected crops from 87% of the sown area.
Ukrzaliznytsia expects to increase freight traffic volumes by 15% in 2024
In 2024, Ukrzaliznytsia JSC will transport 175 million tonnes of goods, which is 15% higher compared to last year’s results.
Ukraine accumulates sufficient fuel reserves for winter – Ministry of Energy
Ukrainian energy specialists have accumulated enough fuel and lubricants ahead of the heating season.
Small privatization generates about UAH 9.58B for Ukraine’s state budget over two years
The total economic effect of the small privatization of state-owned assets has reached UAH 9.58 billion over the past two years.
Auchan supermarket chain sells its Russian branch
The owners of the Auchan supermarket chain have found a buyer for their branch in Russia, as they can no longer resist European sanctions.
24 October 2024
IMF chief: Ukraine’s performance remarkable, but more needs to be done
Despite the ongoing war and Russia’s intensified attacks, Ukrainian authorities have done an amazing job to steer the economy very effectively. At the same time, more needs to be done, namely with regard to domestic revenue mobilization.
Russian strikes on Ukraine’s energy objects decrease GDP growth rate – German economist
Russian strikes on Ukraine’s power generating facilities have reduced the country’s gross domestic product (GDP) growth rate but failed to prevent it from increasing.
Poltava region produces more than 3,000 t of honey annually
More than 3,000 tonnes of honey is produced in the Poltava region annually, which is 5% of Ukraine’s total honey output.