Business news from Ukraine


21 December , 2020  

Fitch Ratings has assigned the City of Kyiv’s upcoming domestic bond issue an expected Long-Term Rating of ‘B(EXP)’, Fitch said on its website.
The Ministry for Development of Economy, Trade and Agriculture of Ukraine estimates the decline in the gross domestic product of Ukraine (GDP) in the third quarter of 2020 at 3.6%, and in January-September of this year – by 5.5%, according to the Economic Activity Survey released on the ministry’s website on Thursday.
Ukraine should show much faster increase the development of mineral deposits in the next 10 years, which can additionally bring $400 billion of additional GDP over this period, Prime Minister of Ukraine Denys Shmyhal has said.
Ukraine plans to increase the annual flow of foreign tourists to 30 million people, domestic to 60 million by 2030, and also intends to increase the industry’s share in GDP to 10%, according to the National Economic Strategy 2030, presented by Prime Minister Denys Shmyhal.
The Cabinet of Ministers plans to increase Ukraine’s dollar gross domestic product (GDP) from $136 billion at the end of 2019 to $300-460 billion by 2030, according to the “Vectors of Economic Development until 2030,” published on the government portal on Friday.
The drop in the gross domestic product (GDP) of Ukraine in the third quarter of 2020 was 3.5% compared to the same period in 2019, while in the second quarter the decline was 11.4%, and in the first 1.3%, this preliminary estimate was published by the State Statistics Service.
The fall of the Ukrainian economy amid a strict quarantine will amount to 5.4% of GDP in 2020, and amid a moderate one 5.1% of GDP, according to a study by the Kyiv School of Economics (KSE).
The drop in GDP in Ukraine by the end of 2020 should not exceed 5%, Yulia Kovaliv, the Deputy Head of the Office of the President of Ukraine, has said.
The deficit of Ukraine’s foreign trade in goods in January-November 2020 halved compared to the same period in 2019, to $3.93 billion from $8.15 billion, in November the foreign trade deficit amounted to $590 million compared to $360 million in deficit in October and $860 million in deficit in November last year.
Growth in consumer prices in Ukraine in October 2020 accelerated to 1% from 0.5% in September after falling 0.2% in August and 0.6% in July, the State Statistics Service reported on Monday.
National budget receipts in October 2020 amounted to UAH 77.2 billion, which is 9.8% higher than the planned figure and 8.5% higher than last year’s level, according to data from the State Treasury Service of Ukraine.
Keeping the key policy rate at 6% was supported by nine out of 10 members of the Monetary Policy Committee (MPC) of the National Bank of Ukraine (NBU) at the meeting on October 21, given the heightened uncertainty and the symmetrical balance of inflation risks, the regulator said on Monday on its website.
The total public debt of Ukraine in October 2020 increased by 0.46% in dollars, to $83.27 billion and by 0.96% in hryvnias, to UAH 2.368 trillion, according to data on the website of the Ministry of Finance.
The prices of industrial producers in Ukraine in October 2020 grew by 3.8%, while in September by 1.7%, in August – by 2.3%, in July – by 0.4%, and in June and in May, their decline was recorded by 2% and 0.6%, respectively, the State Statistics Service reported on Tuesday.
Industrial production in Ukraine in October 2020 compared to October 2019 decreased by 5%, while in September the drop was 4.4%, in August 5.3%, in July 4.2%, June 5.6%, May 12.2% and April 16.2%, the State Statistics Service has reported.
As of November 26, Ukrainian agricultural producers harvested 80.3 million tonnes of basic crops from an area of 23.5 million ha, in particular, 61.9 million tonnes of grain and leguminous crops were harvested from an area of about 14.9 million ha (97% forecast).
The volume of construction work performed in Ukraine in October 2020 increased by 13.3% compared to October 2019, while in September compared to September a year earlier – by 11.8%.
The retail trade turnover of Ukraine in October 2020 grew by 15.2% compared to the same month in 2019 in comparable prices, while in the previous month the growth was 11.6%, the State Statistics Service said.