IMF predicts increase in Ukraine's national debt to 88.1% of GDP this year
The International Monetary Fund (IMF) predicts an increase in the total public debt of war-torn Ukraine this year to 88.1% of the country's gross domestic product (GDP).
Economy - Latest news
11 October 2023
Energoatom, Holtec to set up project teams for implementing small modular reactor technology
The management of NAEC Energoatom and the U.S.-based Holtec International held a meeting where they announced the creation of project teams for technical support of the construction of small modular reactors (SMR) in Ukraine.
Ukraine interested in expanding insurance programs to all priority economy sectors – Marchenko
Minister of Finance of Ukraine Sergii Marchenko discussed the attraction of investments to Ukraine through the mechanism for insuring against war risks with MIGA representatives.
NBU governor holds negotiations with IMF management
The Ukrainian delegation held a number of bilateral meetings within the framework of the Annual Meetings of the World Bank Group and the International Monetary Fund in Marrakech.
VEON plans to invest $600M in Ukraine over three years
In the next three years, the international VEON Group, which is the sole shareholder of Kyivstar, intends to invest $600 million in Ukraine to rebuild the telecom network and develop new mobile technologies.
Ukrainian farmers sow almost 3.7M hectares of winter crops
In Ukraine, as of October 10, 2023, farmers across Ukraine have sown 3.696 million hectares of winter crops.
Ukraine’s steelmakers increased rolled steel production to 523,000 tonnes
Ukrainian metallurgical enterprises produced 523,000 tonnes of rolled products in September, which is 3.4% more than in August.
10 October 2023
Finance Ministry places government bonds for UAH 21B
On October 10, 2023, the Ministry of Finance raised UAH 21 billion in equivalent to the state budget at an auction for the placement of domestic government bonds.
Denmark to help develop farming in Ukraine
The Ukrainian and Danish agriculture ministers at a meeting in Lviv signed a memorandum on cooperation in the development of farming.
Ukraine's government simplifies import of materials for ammunition and UAV production
The Cabinet of Ministers has made a decision simplifying the procedure for imports of unmanned aerial vehicles into Ukraine.
Iohannis: Romania ensures transit for almost 60% of Ukrainian grain exports
Almost 60% of the total volume of grain exports from Ukraine is transported through Romania. Since the beginning of the full-scale war, the volume of transit has already exceeded 27 million tonnes.
President announces launch of ‘grain corridor’ from Ukraine through Moldova to Romania
President Volodymyr Zelensky announced that a new "grain corridor" for the export of Ukrainian grain through Moldova to Romania will be launched soon.
IMF upgrades outlook for Ukraine’s GDP growth in 2023 to 2%
The International Monetary Fund expects Ukraine's GDP to grow by 2% by the end of 2023, which is significantly different from the Fund's April outlook, which suggested negative dynamics at the level of -3% for the war-torn country.
G7 finance ministers to discuss support for Ukraine at meeting in Marrakech
Support for Ukraine and the world economy will be discussed at a meeting of finance ministers and central bank governors from the Group of Seven (G7) countries under the chairmanship of Japan in Marrakech on October 12.
Ukrnafta plans to involve partners to develop 21 fields
PJSC Ukrnafta is looking for partners for the joint development of 21 oil and gas fields.
Unscrupulous arms manufacturers intend to withdraw almost 6B from budget – State Audit Service
Since the beginning of the full-scale Russian invasion, the State Audit Service of Ukraine has discovered abuses to the tune of UAH 6 billion which unscrupulous manufacturers, contractors of state defense orders, wanted to withdraw from the country's budget.
Government plans to double financing of micro-grant program for business – Economy Ministry
The Cabinet of Ministers will double the funding for the micro-grant program for business development; next year it is planned to issue grants worth UAH 3.5 billion.
09 October 2023
IMF recommends that Ukraine focus on capacity to collect tax, customs revenues
The International Monetary Fund (IMF) recommends the Ukrainian government to focus on strengthening the capacity to collect tax and customs revenues.
Veon leaves Russian market
Veon Ltd., a multinational telecommunication services company, said on Monday that it has completed the sale of its Russia unit to senior country managers, capping months of negotiations to exit the Russian market after the 2022 invasion of Ukraine.
Finance ministry raises UAH 23B in state budget from sale of war bonds in Sept 2023
In September 2023, the Ukrainian Finance Ministry raised about UAH 23 billion in the state budget from the placement of war bonds.
Finland allocates EUR 92M to Ukraine, other countries affected by Russia's aggression
Finland is contributing EUR 92 million to the World Bank Group's International Development Association (IDA) to scale up support to Ukraine, Moldova and other countries affected by Russia's aggression against Ukraine.
Azerbaijan to provide more equipment to restore Ukraine's power grid this year
Since the beginning of Russia's full-scale invasion of Ukraine, Azerbaijan has provided ten shipments of humanitarian aid to restore the country's power grid, with a new batch of aid for the restoration of distribution networks expected by the end of the year.
NBU governor to participate in World Bank and IMF Annual Meetings in Morocco
Governor of the National Bank of Ukraine Andriy Pyshnyy and his deputy Serhiy Nikolaychuk left for Marrakech as part of Ukraine’s official delegation to participate in the Annual Meetings of the World Bank Group and the International Monetary Fund.
Communities have leading role in restoration process – Kubrakov
The restoration of the country should begin with communities because it is at this level that the priorities of recovery are best understood.
High Anti-Corruption Court closes Rotterdam+ case
Ukraine’s High Anti-Corruption Court closed the Rotterdam+ case.
Nobel Prize: This year’s laureate in Economic Sciences announced
American Claudia Goldin won the 2023 Nobel Prize in the Economic Sciences.
OECD praises Ukraine's achievements in anti-corruption policy in five areas
The Organization for Economic Cooperation and Development (OECD) has praised Ukraine's achievements in anti-corruption policy in five areas, Ukraine's National Agency on Corruption Prevention (NACP) said.
Oil rises in price amid attack on Israel
Oil prices jumped on Monday, October 9, amid the Hamas group's attack on Israel.
In Donetsk region, 315 agrifirms devastated since war-start
Since went for a full-blown invasion of Ukraine, the enemy has destroyed or damaged 315 agricultural enterprises, inflicting losses worth at least UAH 4 million.
Ukraine to use UAH 1.8B IBRD grant to restore critical logistics infrastructure
The Ukrainian government will use a UAH 1.8 billion grant from the International Bank for Reconstruction and Development to restore critical logistics infrastructure.