Week’s balance: Rada considering budget, creditor giving advice, and NBU waving goodbye to small coins
President of the World Bank Group Jim Jong Kim visited Ukraine and advised that the government speed up reforms, the Verkhovna Rada adopted in the first reading the government-offered law on the state budget for 2018, while the National Bank proposed to withdraw from circulation small coins - these are the key economic events of the outgoing week.
Road works booming: Ukraine plans to change its road map within 3 years
Ukraine's roads are among the worst ones in the world, with only Mozambique and Moldova lagging behind. However, in the coming years, the situation may change. The government plans to carry out a tremendous renovation of the country’s motorway infrastructure. UNIAN decided to find out where road construction and repair will start and what will be the cost for taxpayers.
Week’s balance: step toward big privatization, tighter control in public procurement, and slower inflation
Last week, the Verkhovna Rada adopted in the first reading a number of bills - on privatization, tighter monitoring of public procurement, and increasing transparency in utility tariffs – all really important for the reform of the country's economy, while the State Statistics Service reported on a slower inflation pace in October.
Ukraine in global rankings: Should we expect a breakthrough
Government officials continue to declare the need to raise Ukraine’s positions in various international ratings - economic, investment, and regulatory ones - as the country seeks investment. However, there has not been any breakthrough yet – ascending to TOP-50, not to mention the TOP-20, remains in our dreams. It’s only decisive steps which could promote a transition to a new quality of life.
Week’s balance: Poroshenko and Groysman's foreign tours, piled up complaints to business ombudsman, and Akhmetov blackmailing the government
Ukrainian President Petro Poroshenko acted as Ukraine’s promoter in Saudi Arabia and the United Arab Emirates, Prime Minister Volodymyr Groysman worked to attract Canadian businesses, the business ombudsman received a record number of complaints, and DTEK's Rinat Akhmetov threatens the safe passing of the heating season - these are the main economic news of the outgoing week.
Week's balance: Groysman the guardian, a gas transit challenge, and a 'clot' of Ukraine's economy
The president has criticized the public and journalists for highlighting only bad things in the development of Ukraine, the prime minister has called on law-enforcers to cease pressure on businesses, the finance minister is still hopeful of getting an IMF disbursement by the end of the year, while the Ukrainian railways operator Ukrzaliznytsia's management has presented an optimistic plan for reforming one of the country's most corrupt companies – these are the main economic events of the outgoing week.
Week’s balance: Groysman arguing with IMF, Akhmetov stripped of Ukrtelecom, and deputies agreed to healthcare reform
The Verkhovna Rada passed a bill on health reform which will change the system of healthcare financing, the International Monetary Fund is in no hurry to decide on the allocation of the next bailout tranche for Ukraine, the court allowed to recover Gazprom’s assets to the tune of UAH 171 billion, while the government reported on its performance over the nine months of 2017 - these are the week’s main economic news.
Maksym Nefyodov: Most SOEs to be put up for sale are anything but a "gold mine". They are in a difficult condition
Deputy Minister of Economic Development and Trade of Ukraine Maksym Nefyodov sat down with UNIAN to explain when exactly Ukraine should expect the arrival of big investors. He also elaborated on the new privatization legislation and the way the economy ministry is fighting fraud in public procurement.
Renewable energy in Ukraine: step forward, two steps back
Ukraine has renewed its interest in "clean" energy. By year-end, it is expected that a record volume of alternative energy generating capacities will have been put into operation, that is some 500-600 MW. Even private households across the country have joined the trend by actively installing solar power stations. However, renewable energy still takes up an insignificant share in the country's overall energy balance.
Week’s balance: price hikes, quiet discord with IMF, and Groysman inspecting road works
In Ukraine, prices are rising beyond forecasts, Prime Minister Volodymyr Groysman continues to inspect roadworks across the country, while infrastructure minister Volodymyr Omelyan complains over their insufficient funding and warns that this year’s repair plan will not be fulfilled. At the same time, anxiety is building up as Ukraine awaits news from Washington where the country’s delegation headed by Finance Minister Oleksandr Danyliuk tries to convince the IMF to allocate another bailout tranche - these are the main economic news of the outgoing week.
Week’s balance: progress on pension reform, World Bank’s forecast, and reassurances ahead of heating season
The Verkhovna Rada adopted a long-suffering pension reform and continued to perform rather decently, having adopted a number of important laws; the World Bank announced a macroeconomic forecast for Ukraine; while the government reported on the country’s readiness for the heating season - these are the main economic news of the outgoing week.
EBRD's Francis Malige: For Ukraine's judiciary it's "catch and release"… That needs to stop.
Managing Director for Eastern Europe and the Caucasus at the European Bank for Reconstruction and Development (EBRD) Francis Malige in his interview with Ukrainian journalists spoke about the key obstacles to the inflow of foreign investment to Ukraine and prospects for the EBRD to finance natural gas purchases. He also assessed the ongoing privatization process and shared EBRD’s plans on investing in the capital of state-owned banks and other companies.
Week’s balance: aid to affected in arms depot blast, NBU forecasts, and preparation for winter
The Ukrainian government allocated UAH 100 million to eliminate the consequences of the explosions at the military arsenal in Vinnytsia region and responded to the onset of the first wave of autumn colds by intensifying preparations for the heating season. The National Bank improved its outlook for the growth of the Ukrainian economy. The Antimonopoly Committee, responding to a sharp increase in petrol prices, started a probe on the market of petroleum product. These are the main economic news of the outgoing week.
Ukraine’s Trade Envoy: Our goal is to review the terms of our free trade with the EU
Trade Representative of Ukraine Nataliya Mikolska sat down with UNIAN to elaborate on the reasons for the growth of Ukrainian exports in 2017, the launch of more free trade areas, the main export trends toward Europe, and to tell us why Ukraine wants to review the terms of its free trade with the EU.
Week’s balance: success of Ukrainian Eurobonds, scandal in Naftogaz, and hitch with pension reform
For the first time since the Revolution of Dignity Ukraine successfully borrowed $3 billion on the foreign market for 15 years, the Cabinet presented a draft budget 2018 in parliament which has by far failed to begin the final stage of the debate on pension reform, while the last remaining independent members of the Naftogaz supervisory board announced their intention to resign claiming that the Ukrainian government was “derailing” the gas holding’s reform - these are key economic news of the outgoing week.
Transit risks of Ukraine's "gas" scandal
Ukraine has come close to its main energy goal - to retain in full its gas transit volumes after the current contract with Russia’s Gazprom expires. The main task is to transfer the points of gas acceptance to the country’s eastern border. The European Commission has practically given the go-ahead to the idea, at the same time setting certain conditions, which fully comply with Ukraine’s obligations under the Ukraine-EU Association Agreement. But there is a possibility of disruption of transit plans as a result of the actions of certain Ukrainian officials.
Pensions, army, and debts: key priorities of Ukraine Budget-2018
The Cabinet of Ministers has submitted to the parliament the draft state budget-2018, expecting its approval by December. The experts analyzed the key parameters of the country's budget and reflected on whether the drafted scenario of the country's economic development for the next year is realistic.
Week’s balance: Budget-2018, IMF audit, and hryvnia losing shape
The Cabinet of Ministers of Ukraine approved and submitted to the Verkhovna Rada a draft budget for 2018, Deputy Managing Director of the IMF David Lipton inspected how Ukraine fulfilled obligations under the program of cooperation with the Fund and appreciated the progress in the stabilization of the Ukrainian economy, while the hryvnia continued its downward trend - these are the main economic news of the outgoing week.
Week’s balance: President's address, preparation for winter, and nervous hryvnia
Ukrainian President Petro Poroshenko in his annual address to the parliament outlined the main tasks to achieve the country’s stable development, the government took up preparations for the heating season and assured that it would pass unhindered, while Naftogaz declared the need to attract European partners to the management of the gas transmission system - these are the main economic news of the outgoing week.
Hryvnia’s troubled autumn
The interbank market has for the past several days been seeing an increased demand for foreign currency, pulling the hryvnia down. Expert opinions on how the national currency will survive traditional autumn anxiety and winter colds have divided.