S&P Global Ratings lowered its foreign currency (FC) long-term sovereign credit and issue ratings on Ukraine to ‘CC’ from ‘CCC+’. The outlook on the long-term sovereign rating is negative.
Fitch Ratings has upgraded Ukraine’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to ‘CC’ from ‘RD’ (restricted default).
The Ministry of Economy of Ukraine expects a decline in GDP of at least 30-35% in 2022, and for the next year it has developed four macroeconomic scenarios, which, depending on the conditions, give from 0.4% further decline to 15.5% of economic growth, First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko has reported.
The deficit of Ukraine’s trade in goods in July this year amounted to $1.798 billion, which is 4.1 times more than in July last year ($440 million). According to its data, exports of goods in July fell by 47.9% compared to last year, to $2.92 billion, while imports fell by 21.9%, to $4.718 billion. Geographically, in trade with the EU, even an increase in imports was recorded by 9.1%, to $2.651 billion, while exports decreased by 8.3%, to $2.158 billion.
The growth of consumer prices in Ukraine in July 2022 due to seasonal factors slowed down to 0.7% from 3.1% in June and 2.7% in May, returning to the level of the end of last year.
In July last year, inflation was 0.1%, so in annual terms, in July this year, it rose to 22.2% from 21.5% in June and 18% in May.
The loan portfolio of Ukrainian banks in July 2022 decreased by 6% to UAH 1.212 trillion, while the volume of non-performing loans (NPL) increased by 7.1% to UAH 363.682 billion, according to a report on the website of the National Bank of Ukraine ( NBU).
During January-May 2022, Ukraine’s leading retail companies paid about UAH 15 billion in taxes and provided jobs for almost 250,000 employees, the press service of the Retail Association of Ukraine (RAU) reported.
Economic Monitoring’s Project Manager – PhD in Economics, Maksim Urakin
A new video has been released on the YouTube channel of the Club of Experts, dedicated to the announcement of events that will take place in Ukraine and the world from September 26 to October 2. The founder of the Club of Experts Maksim Urakin and co-host Olga Levkun analyzed the main events planned for the coming days.
So, next week Ukraine will host several major conferences dedicated to economic recovery, development of agriculture and water resources, educational projects, etc.
Among world events, a number of conferences in the field of economics can also be distinguished. In particular, the Asia-Pacific Petroleum Conference (APPEC 2022), the meeting of G-20 agriculture ministers, the global manufacturing and industrialization summit in Pittsburgh, USA GMIS-2022). Also, a number of Western countries, in particular the UK, introduce significant tax incentives for businesses in order to prevent an economic recession.
Among the sporting events, one can single out the next round of the UEFA Nations League, where the most interesting matches will be the confrontation between England and Germany, as well as the return match between Ukraine and Scotland. Read more about future sporting events on the Sport.ua portal. The full version of the video can be viewed at the following link:
You can subscribe to the Expert Club channel here:
https://www.youtube.com/channel/UC4plQ0XBaoLOKPIXrb1aMGQ
ANNOUNCEMENTS, EVENTS, EXPERT_CLUB, URAKIN, ЛЕВКУН, МАКСИМ_УРАКИН
The Expert Club YouTube channel has released another video review of current events and activities for the next week. In the new issue, the founder of the Club of Experts Maksim Urakin spoke about the main news in Ukraine and the world from August 19 to 25, 2022.
So, in Ukraine next week, several major events are expected to be dedicated to economic recovery and business support during martial law. In particular, the largest conference on youth entrepreneurship and student startups in Ukraine Startup Campus will start on Wednesday, the main speaker of which will be the Deputy Prime Minister – Minister of Digital Transformation of Ukraine Mykhailo Fedorov, and on Thursday the annual Richelieu Forum dedicated to the architecture of a new model of public service will start.
In the world next week, the most anticipated event will be farewell to Queen Elizabeth II of Great Britain. The ceremony is expected to be attended by many world leaders. In the economy, the main news could be a possible change in the monetary policy of the US Federal Reserve System, analysts predict a 30% chance of raising the Fed’s discount rate by 1 percentage point.
Football will dominate next week’s sporting events. As part of the qualification for the 2022 World Cup and the European League of Nations, important matches of the national teams will be held, among which one can single out the fundamental confrontation between two old rivals – Brazil and Argentina. More about this on the sports portal sport.ua.
For a full review of these and other events, see the new video on the Club of Experts channel at the link:
You can subscribe to the Expert Club channel here –
On August 27-28, the charity squash tournament “Zenit Ukraine Open 2022” was held on the courts of the capital’s fitness center “SPORT LIFE”. The competition was attended by players from Romania, USA, Moldova, Lithuania, as well as athletes from Kyiv, Lvov, Kharkov, Dnipro, Khmelnitsky, Poltava, Kherson and Odessa.
Among the participants were awarded awards in 5 categories. The winners of the competition were:
Category Lady:
1. Anna Tarasova;
2. Alina Nizdrakova;
3. Oksana Gerasimenko.
Category M3
1. Arayik Sargsyan;
2. Stepan Kobzev;
3. Alexander Stepanyuk.
Category M2:
1. Maria Lovko;
2. Yulia Sikalenko;
3. Dmitry Tokar.
Category M1:
1. Alexey Alekseenko;
2. Evgeny Popko;
3. Nikita Petrov.
Category PRO Men:
1. Ruslan Sorochinsky;
2. Denis Yard;
3. Nikita Panov.
This year the tournament was held in Kyiv for security reasons, while Odessa has been the traditional venue for the competition for many years. According to tournament organizers Dmitry Shcherbakov and Maxim Urakin, the return of Zenit Open to the Black Sea coast is planned for next year.
“For the last 10 years, the tournament has been held in Odessa, and we know it under the name Zenit Black Sea Open. Now, due to the war, we were forced to change traditions and move the venue to Kyiv. At the same time, we plan to return to Odessa courts next year,” Shcherbakov emphasized.
The executive director of the “All-Ukrainian Association of Squash Players” Oleksiy Usenko said that the association will contribute to the organization and holding of tournaments on a regular basis.
“The holding of such competitions improves the skills of our players and our cohesion, it is important not only to support Ukrainian sports, but also the country as a whole,” Usenko stressed.
According to the organizers, the money raised at the tournament will be directed to charity and assistance to Ukraine.
“Zenit Open” is the most famous and largest international squash tournament in the history of independent Ukraine. The scale of the championship is evidenced by the number of countries and participants, as well as a large number of organizations involved in the preparation and holding of the competition.
The main fitness partner of the event is the national network of fitness clubs No. 1 “SPORT LIFE”;
The main organizer of the tournament is “All-Ukrainian Association of Squash Players”;
The main information partner of the tournament is the news agency “Interfax Ukraine”;
The official sponsors were the company “MAXEVENTS” and the analytical center “Club of Experts”;
Prize fund partners – Eye and VICTOR;Partner – Public Association “UKRSADVINPROM”;
Prizes and gifts from the leading companies Tecnifibre and Reima;
The official water of the tournament is “KRAYNA”;
Official beer of the tournament from TERMOPUB;
Tea Partner – At Market;
Official hotel of the tournament – “FAVOR”;
Party partner restaurant – “OZERO”.
DMITRY_SHCHERBAKOV, EXPERT_CLUB, EXTREME, FAVOR, MAXEVENTS, OZERO, REIMA, SPORT, SPORT_LIFE, SQUASH, TECNIFIBRE, TERMOPUB, TOURNAMENT, URAKIN, ZENIT_OPEN
Ukraine’s GDP in 2022 will decrease by 30%, however, the unblocking of seaports would reduce the economic decline to 22-25%, Olena Bilan, chief economist at Dragon Capital, believes.
The real gross domestic product (GDP) of Ukraine in the first quarter of 2022 fell by 15.1% compared to the first quarter of 2021 after growing by 6.1% in the fourth quarter of last year, the State Statistics Service published such a preliminary estimate on Thursday.
The economy of Ukraine is gradually recovering from the level of the greatest fall in March thanks to the regions where there are no active hostilities, as a result, the decline in May this year (against the same month last year) slowed down to 35-40%, Deputy Governor of the National Bank of Ukraine Serhiy Nikolaychuk said.
The National Bank expects Ukraine’s GDP to fall by at least a third in 2022, Deputy Governor of the NBU Serhiy Nikolaychuk said during the presentation of the report on financial stability.
The National Bank of Ukraine (NBU) estimates Ukraine’s losses from destroyed housing, business and infrastructure due to Russian aggression at 50% of GDP in 2021, or $100 billion, according to a financial stability report published on the central bank’s website on Tuesday.
The real GDP of Ukraine will decrease by more than a third in 2022, inflation accelerated to 20% in the first half of the year, according to bankers surveyed by Interfax-Ukraine.
The deficit of Ukraine’s foreign trade in goods in January-April 2022 fell by almost 97.6% compared to the same period in 2021, to $29.6 million from $1.237 billion, the State Statistics Service reported on Tuesday.
Consumer price growth in Ukraine in May 2022 slowed down to 2.7% from 3.1% in April and 4.5% in March, but exceeded 1.6% in February and 1.3% in January, the State Statistics Service said on Thursday.
The state budget deficit in January-May 2022 exceeded annual deficits of the previous two years, the National Bank of Ukraine (NBU) said in its June macroeconomic and monetary review.
Ukraine’s total state debt in April grew by 0.84% in U.S. dollars to $97.62 billion, in hryvnias – by 0.84% to UAH 2.855 trillion, according to data on the website of the Ministry of Finance.
Economic Monitoring’s Project Manager – PhD in Economics, Maksim Urakin
YouTube channel “Club of Experts” – another video review of current events and events for the next week.
The founder of the club of experts Maksim Urakin, together with co-host Olga Levkun, spoke about the main news in Ukraine and the world from August 8 to 14, 2022.
So, in Ukraine, the next week will be quite rich in various events and activities. In particular, it is planned to hold several conferences and round tables dedicated to supporting the economy during the war, the prospects for the development of the banking sector, information security, etc. Such world-famous economists and politicians as Francis Fukuyama, Oliver Hart, Ivan Miklos, Leszek Balcerowicz are expected to speak.
Among the world events next week, one can single out the meetings of the heads of military and diplomatic departments of the EU countries, where Ukrainian representatives will also be present. The main topic of the meetings will be building up support for Ukraine. The publication of up-to-date statistical data by the world’s leading economies is also expected. Among sporting events, the main one is the start of one of the world’s major tennis tournaments – the US Open and EuroBasket 2022, which will be held in four countries at once. More about this on the sports portal sport.ua.
Also next week, several landmark international conferences and exhibitions are expected to take place, including the B-20-G-20 Dialogue in Indonesia and IFA-2022 in Berlin.
Watch these and other events in a new video on the Club of Experts channel at the link:
You can subscribe to the Expert Club channel here – https://www.youtube.com/channel/UC4plQ0XBaoLOKPIXrb1aMGQ
ANNOUNCEMENTS, EVENTS, EXPERT_CLUB, URAKIN, ЛЕВКУН, МАКСИМ_УРАКИН
