Print

Institute news

  • Monthly Economic Monitoring of Ukraine No.235

    14.08.2024

    Executive Summary

    • According to the IER, real GDP growth accelerated to 4.4% yoy in July from 3.1% yoy in June due to a faster harvest than last year.

    • In July, problems with the access to electricity were among the biggest impediments to business activity. The power outages were temporarily suspended at the end of July.

    • Cargo transportation by Ukrzaliznytsia decreased slightly in July compared to June.

    • Exports in July, according to Customs, partially recovered after a decline in June. This was facilitated by the relatively rapid harvesting of early grains.

    • Imports in July increased primarily due to higher imports of electricity, as well as higher volumes of imports of engineering products related to access to electricity.

    • The need to increase state budget expenditures on defense and security prompted the government to initiate changes in tax legislation.

    • Inflows of international aid helped the government finance higher spending in July.

    • Ukraine announced an exchange offer and consent solicitation for its existing Sovereign Eurobonds and Ukravtodor Guaranteed Eurobonds.

    • In July, according to the Ukrstat, inflation reached 5.4% yoy.

    • In recent weeks, hryvnia has suspended its gradual but steady decline against the US dollar and fluctuated in the range of UAH 41.0-41.5 per dollar.

    • In July, the NBU unanimously left the key policy rate at 13% per annum and pointed to the low likelihood of further rate cuts this year.

    Download

Powered by

Activemedia
© 2020
The Institute
for Economic Research
and Policy Consulting
address:
Reytarska 8/5-А,
01054 Kyiv, Ukraine
tel.:
+ 38 044 278-63-42
+ 38 044 278-63-60
fax:
e-mail:
+ 38 044 278-63-36
institute@ier.kyiv.ua
Use of site materials is allowed on condition of reference (for the internet publishing - links) on www.ier.com.ua