The World Bank has raised its forecast for the growth of Ukraine’s gross domestic product in 2023 from 2.1% to 3.3%, according to the Economic Update.
The National Bank of Ukraine (NBU) has upgraded its estimate of a decrease in GDP in 2022 to around 32% from 37.5% in the previous forecast, the press service of the regulator said.
On October 28, 2022, S&P Global Ratings affirmed its ‘CCC+’ long-term foreign and local currency issuer credit ratings on Ukraine’s capital city Kyiv, the outlook remains stable, the company said on its website.
The Cabinet of Ministers of Ukraine has approved the draft state budget for 2023 for second reading, Prime Minister Denys Shmyhal said.
The deficit of Ukraine’s foreign trade in goods in September amounted to $354 million, which is 66.7% less than in August, Deputy Minister of Economy and Trade Representative of Ukraine Taras Kachka said.
The deficit of Ukraine’s foreign trade in goods in January-August 2022 increased by 2.9 times compared to the same period in 2021 – to $5.421 billion from $1.895 billion, the State Statistics Service reported.
Inflation in Ukraine accelerated to 24.4% year-over-year in September from 23.8% in August, according to the macroeconomic and monetary monthly review of the National Bank of Ukraine (NBU).
The growth of consumer prices in Ukraine in September 2022 accelerated to 1.9% from 1.1% in August and 0.7% in July, the State Statistics Service reported on Monday.
The deficit of the state budget of Ukraine for January-September 2022 was UAH 493.4 billion, in particular that of the general fund – UAH 495.3 billion with a planned deficit for this period of UAH 1.018 trillion, such preliminary results were reported by the Ministry of Finance.
The total public debt of Ukraine in August increased by 1.3%: in dollar terms by $1.24 billion – up to $96.79 billion, in hryvnia – by UAH 45.4 billion, up to UAH 3.585 trillion, according to data on website of the Ministry of Finance.
The volume of computer services in January-September 2022 increased by 13% and amounted to almost $5.5 billion, the IT Ukraine association (ITU) reported, citing data from the National Bank of Ukraine.
From the beginning of the 2022/2023 marketing year (MY, July-June) and until October 21, Ukraine exported 11.52 million tonnes of grain crops, of which 6.17 million tonnes of corn (53.5% of the total supply), some 4.36 million tonnes of wheat (37.8%) and 950,000 tonnes of barley (8.2%).
Economic Monitoring’s Project Manager – PhD in Economics, Maksim Urakin
