Next year's budget deficit will be about 21% of GDP - PM Shmyhal
Ukraine will require about $42 billion in financial assistance to cover the budget deficit in 2024.
Economy
Yatsenyuk about transferring Russia's frozen assets to Ukraine: Punishment and justice must come
Russia's frozen assets do not cover all Ukraine's losses, but their transfer to Ukraine and affected citizens is a fundamentally important contribution to compensating for the aggressor's crimes.
Ukraine, IFC discuss joint projects at World Bank-IMF Annual Meetings
At the Annual Meetings of the World Bank Group and the International Monetary Fund (IMF) in Morocco, the Ukrainian delegation held a meeting with the International Finance Corporation’s Managing Director Makhtar Diop and Vice President for Europe, Latin America and the Caribbean Alfonso Garcia Mora.
Ukraine’s state budget receives $1.15 B grant from US
The Ministry of Finance of Ukraine attracted a $1.15 billion grant from the USA through the World Bank's Multi-Donor Trust Fund.
Over 57 mcm of natural gas sold on UEEX in Sept
In September 2023, 57.19 million cubic meters of natural gas were sold on the Ukrainian Energy Exchange (UEEX).
Ukraine accumulates 15.75 bcm of natural gas in underground storage facilities
Ukraine's JSC Naftogaz expects natural gas reserves in the country's underground storage facilities to exceed 16 billion cubic meters before the winter sets in.
Ukraine’s finance minister meets with IMF, World Bank management
Finance Minister Sergii Marchenko of Ukraine held a series of meetings with the management of the International Monetary Fund and the World Bank to discuss the current economic situation in Ukraine and progress of cooperation.
UNDP to provide Kyiv region with technical support to restore another 56 objects
The United Nations Development Programme (UNDP) will provide Kyiv region with technical support in the restoration of 56 objects with funds from the Fund for the Elimination of the Consequences of Armed Aggression.
11 October 2023
IMF chief says Ukraine recovering quicker than expected
Managing Director of the International Monetary Fund, Kristalina Georgieva, praised the Ukrainian government’s efforts in the field of managing the economy amid war, noting that the economic recovery is happening quicker than the fund predicted.
Ukraine, Slovakia prime ministers discuss transit of agricultural products
Prime Minister of Ukraine Denys Shmyhal discussed the issue of transit of Ukrainian agricultural products with Prime Minister of Slovakia Ľudovít Ódor.
Ukraine nearing second review of EFF arrangement – Pyshnyy
Ukraine is on the threshold of the second review of the Extended Fund Facility arrangement with the IMF, so the key focus is on what has been done to complete it and on overall progress throughout the year.
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).
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.