Week’s balance: Postponed bailout tranche, central bank’s worsened macroeconomic forecast, and international partners urging Kyiv to speed up reform
The authorities announced the postponement of key reforms and, subsequently, of the next IMF bailout tranche, at least until autumn 2017; the National Bank of Ukraine worsened its outlook for the country’s economic growth and inflows of credit funds; while international partners called on the president, government and parliament boost reform - these are the main economic news of the past week.
Westinghouse Vice President: There's a lot of bureaucracy in Ukraine
Vice President and Managing Director at the world’s nuclear power giant Westinghouse Aziz Dag in his interview with UNIAN spoke about the prospects of the increase in nuclear fuel supplies to Ukraine and the company’s plans for the period when the current contract with Ukraine expires, also commenting on the global trend for the “green” energy development and the role of nuclear energy in the near future.
Week’s balance: budgetary "revolution," billions for roads, and preparations for heating season
The Ukrainian government approved the budget resolution for the next three years, engaged in improving road safety, and once again extended the emergency measures in the energy sector, while KyivEnergo warned of the lack of sufficient funds to prepare for the heating season - these are the main economic news of the outgoing week.
Tax on "excess" real estate Ukrainian style
Real estate tax, aimed to replenish local coffers by tens of millions of hryvnias, is by far failing to achieve its objective. Before July 1, Ukrainians will receive from their local fiscal offices this new tax notice. UNIAN clarified why the tax is not working and what should those do who have not received such a notice.
Week’s balance: President’s reform, shady Gazprom, and hryvnia tranquility
The president greenlighted the energy market reform, Gazprom commented in its favor on the decision of the Stockholm arbitration tribunal, while the Ukrainian government ahead of the land reform instructed the National Police to verify all land deals - these are this week’s main economic news.
Prospects of Ukraine’s privatization
During each year’s painful process of budget planning, Ukrainian deputies and ministers speculate on the topic of privatization of state property and voice potential sky-high sums Ukraine will allegedly get from selling off its assets. UNIAN conducted an “audit” to find out what has been left of the generally valuable and liquid companies under state control, and how it would be best to set up the sale of these assets.
Week’s balance: Dutch green light, Gazprom’s failure in Stockholm, and updated macroeconomic forecast
The Netherlands approved the Ukraine-EU Association Agreement, completing the long process of ratifying the document which is key for the country’s modernization; Naftogaz won a historic victory over Russia's Gazprom in Stockholm Arbitration; while the Cabinet revised its macroeconomic forecast for Ukraine - these are this week’s main economic news.
Slap in Gazprom’s face
The absolute victory for Ukraine – this is how the experts comment on yesterday's decision of the Stockholm Arbitration in the case involving mutual claims of Ukraine’s Naftogaz and Russian energy monopoly Gazprom, filed back in 2014.
Week’s balance: production decline, IMF advice, and agrarian minister’s farewell
The IMF mission completed its work in Kyiv, announcing priority tasks for the Ukrainian authorities to secure continued lending program; the country's industrial output expectedly shrank as a result of the trade blockade of Donbas and the confiscation of Ukrainian assets by the occupier forces; the National Bank relaxed some forex restrictions; while agrarian minister Taras Kutovyi stepped down from post. These are the main economic news of the outgoing week.
Week’s balance: ban of Russian websites, IMF mission in Ukraine, and launch of pension reform
The President of Ukraine issued a decree on the blocking of Russian internet resources, another IMF mission arrived in Kyiv, while the government presented its draft pension reform - these are this week’s main economic news.
Headless Central Bank
Governor of the National Bank of Ukraine Valeria Gontareva went on a long leave, choosing not to wait until her successor is appointed. Meanwhile, the president seems not to be rushing with submitting his candidates for the post for Parliament’s consideration. UNIAN has tried to understand why this process is being delayed, and who might take up the post of the country’s chief banker and when this is likely to happen.
Week’s balance: economy sees growth, war for OPP unleashed, emergency measures in energy sector continue
Ukraine’s key creditors, the IMF and EBRD, have confirmed their forecasts of GDP growth for Ukraine in 2017, while the Cabinet saves Odesa Portside Chemical plant from bankruptcy and extends emergency measures in the energy sector - these are the main economic news of the past week.
Week’s balance: Growth in Ukraine’s revenues, Gontareva’s vacation, and U.S. financial aid
The U.S. will provide $560 million in assistance to Ukraine; NBU Governor Valeria Gontareva chose to leave for a long vacation ahead of the resignation; while the State Treasury reported on overfulfilment of the state budget revenues - these are the main economic news of the first week of May.
Week’s balance: Yanukovych's "gift," blackout of occupied Donbas, and hryvnia strengthening
The funds totaling $1.5 bln seized from accounts of ex-president Viktor Yanukovych and his entourage are being transferred to the state budget; Ukraine cut off electricity supplies to the areas of Luhansk region occupied by Russian-supported militants; while Ukraine’s exports strengthened the national currency, hryvnia - these are the main economic events of the past week.
Week’s balance: growth against all odds, pension-related "unprofessionalism" and snow-covered harvest
Experts forecast growth of Ukrainian economy despite the blockade of the occupied territories of Donbas; the authorities continue their hot discussions with "terribly unprofessional" IMF officials; while the agriculture ministry calculates losses from cyclones – these are the main economic news of the outgoing week.
Week’s balance: Groysman’s year, Gontareva's resignation, and new legal field for electricity
The government of Volodymyr Groysman marked its first year since the appointment, the head of the National Bank wrote the long-promised resignation letter, while the Rada adopted a law on electricity market - these are the key economic news of the outgoing week.
Week’s balance: gifts from EU, IMF assignment, and NBU Governor’s long farewell
The European Parliament approved a visa-free travel for Ukrainians; the International Monetary Fund voiced a new set of tasks for Kyiv and granted Ukraine the fourth bailout tranche worth $1 billion, followed by another EUR 600 million that came from the European Commission; while the NBU chief confirmed her intention to resign – these are the key economic news of the outgoing week.
Week’s balance: "Yanukovych debt," Firtash’s profit, and Sberbank’s maneuver
The High Court of Justice in London in the case regarding Russia’s claim over the so-called "Yanukovych debt" ruled not in Ukraine’s favor, Russian Sberbank announced the sale of its Ukrainian subsidiary, while regional gas distribution companies controlled by Dmytro Firtash will be able to earn an additional UAH 7.7 billion due to the latest decision of the NEURC – these are this week’s main economic news.
Week’s balance: blockade consequences, IMF return, and billions for Ukrainian roads
Last week, the Ukrainian authorities assessed the consequences of the trade blockade of the occupied Donbas for the economy; the IMF announced it would appoint a new date for the next Exec Board meeting on the allocation of another tranche to Ukraine; and the government boosted its efforts to fix Ukrainian roads.
Week’s balance: legitimized blockade, sanctioned banks, and EUR 600 million EU aid
Ukraine has officially banned the movement of goods across the contact line in the zone of the Anti-Terrorist Operation, imposed sanctions against the subsidiaries of Russian state banks, and is now waiting for the next tranche from the IMF as well as a EUR 600 million macro-financial assistance from the European Union - these are the main economic news of the outgoing week.