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.
Week’s balance: Groysman sees "sabotage" in LPG market, announces legislative plans for autumn, while Akhmetov boosts control in energy sector
Prime Minister of Ukraine Volodymyr Groysman announced the government's plans for the autumn, while LPG prices in the motor fuel market started to ease down after the August peak, and competent authorities are instructed to probe into the “sabotage” with pricing. The American corporation announced its intention to pour $650 million into Ukraine's energy market, while the agrarians completed the harvesting of early grain crops. These are the main economic news of the outgoing week.
Week’s balance: LPG prices soar, state sector mired in losses, while Firtash comes into spotlight, again
The National Bank of Ukraine this week continued to strengthen the hryvnia rate; the Ministry of Economic Development and Trade estimated the profits and losses of state companies for 2016; the prices of LPG set a new record; while Firtash's companies jumped into a public focus over the alleged supplies of electricity and raw materials to the occupied Crimea - these are this week’s main economic news.
Week’s balance: NABU efforts yield success, hryvnia shows muscle, Cabinet to launch staffing revolution
The National Anti-Corruption Bureau reported on the results of corruption probes in the energy sector, the Ukrainian hryvnia continued to strengthen following GDP growth, while the Cabinet, assisted by the EU, announced a massive competition for some 900 government posts. These are the main economic news of the outgoing week.
Week’s balance: Ukrzaliznytsia say goodbye to their rockstar CEO, NBU develops new forex regulations, while inflation sees growth
The Cabinet this week approved the resignation of Ukrzaliznytsia CEO Wojciech Balczun, gave a start to the introduction of 4G, and raised liquor prices; the National Bank unveiled t draft of new forex regulation; while inflation has accelerated - these are the key economic news of the outgoing week.
Ukrainian arms exports in 2016
After the suspension of Ukraine's arms sales in 2014, the Ukrainian defense industry is once again increasing its export potential. The country's leadership plans to make Ukraine one of the leaders of the global arms market, while representatives of the Ukrainian defense industry are calling for liberalization of the terms of military exports.
Week’s balance: first payment to IMF, free trade with Canada, and rise in gas production
Ukraine paid back the first $450 million on the International Monetary Fund loan under the standby program, it also launched the free trade area with Canada, and significantly increased production and imports of natural gas - these are the main economic news of the outgoing week.
Week’s balance: Economy sees growth, Groysman vows privatization, and Gazprom fights off fines
The Ministry of Economic Development has reported growth of the national economy, Prime Minister Groysman promised to restart privatization despite the fact that a new State Property Fund chief has not yet been appointed, while Russian energy giant Gazprom easily refuted in Ukrainian courts earlier imposed obligations to pay UAH 80 million worth of fines for the violation of anti-trust legislation - these are the key economic news of the outgoing week.
Week’s balance: IMF allows postponement of land reform, prime minister finds hub for low cost air carriers, Ukraine boosts trade
The EU Council has approved trade preferences for Ukraine. The IMF gave Kyiv a respite for land reform. The Cabinet reported on its work in the first half of the year. The prime minister instructs to equip the Hostomel Airport to receive aircraft of low-cost carriers. These are the main economic news of the outgoing week.
Week’s balance: EU completes ratification of Ukraine Association deal, Rada amends state budget before going on vacation
The Council of the European Union has approved the Ukraine-EU Association Agreement. Ukrainian legislators passed a number of bills before leaving for summer vacation, supporting the Cabinet's proposal to increase revenues and expenditures of the state budget. The Boryspil Airport has at first said goodbye to, but then resumed negotiations with Ryanair. The hryvnia continued to strengthen. These are the main economic news of the outgoing week.