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
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On August 27-28, the charity squash tournament “Zenit Ukraine Open 2022” will be held on the courts of the capital’s fitness center “SPORT LIFE”.
For two days, awards will be drawn in 5 categories among men and women. Players from Romania, USA, Moldova, Lithuania, as well as athletes from Kyiv, Lvov, Kharkov, Dnipro, Khmelnitsky, Poltava, Kherson and Odessa will take part in the competition.
The start of the tournament is scheduled for 10-00 on Saturday, August 28 in the complex “SPORT LIFE” at st. Marshal Konev, 8. The solemn ceremony of awarding the winners will be held on August 29 at 16-00 in the restaurant “OZERO”.
According to the co-organizer of the tournament Maksim Urakin, the tournament is held in Kyiv for the first time due to security reasons.
“For the last 11 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” – Maksim Urakin explained.
According to another organizer, Dmitry Shcherbakov, holding international competitions in Kyiv is now important not only to support Ukrainian sports, but also for the country as a whole.
“We are grateful to all the athletes who responded to the call to participate in the tournament at such a difficult time. This means that Ukrainian sport is alive and winning,” he stressed.
According to the organizers, the funds 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”;
Partner – Public Association “UKRSADVINPROM”;
Prize fund partners – Eye and VICTOR;
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”.
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A new video has been released on the YouTube channel “Club of Experts”, dedicated to the announcements of the main events that are planned in Ukraine and the world this week.
In the next issue, the founder of the club of experts Maxim Urakin, together with co-host Olga Levkun, announced the main events, which are scheduled for the period from August 22 to 28, 2022.
Thus, in Ukraine, one of the main events of the week, in addition to honoring the 31st anniversary of Independence, will be the second summit of the Crimean Platform. For security reasons, the summit will be held online. Also this week there will be a number of events, round tables, seminars and exhibitions dedicated to Independence Day, most of which will also be held online.
Recall that in the period from August 22 to 25, holding mass events in Kyiv is prohibited.
Among world events, one can single out the continued development of the situation around the island of Taiwan, near which China intends to conduct regular military maneuvers. Asia will also host a number of major events dedicated to economic development in the region. Among them are the international exhibition “EXPO China-Eurasia” in Urumqi, China and the Asia-Pacific Business Forum in Bangkok, the capital of Thailand.
You can learn about these and many other events by watching the video on the Club of Experts channel at the link:
According to Experts Club founder Maksim Urakin, the humanitarian situation that has developed in Ukraine now requires more effective interaction between volunteers and the diaspora in the United States.
“We need to develop ties with organizations such as Wisconsin Ukrainians, inform them about the requests for humanitarian supplies we have today and that will also be in the near future. This will allow us to provide more effective assistance to our people affected by the war,” he explained.
The Nasha Lepta project provides assistance to families of internally displaced persons, families with many children, children with cerebral palsy and autism, as well as children with serious illnesses and disabilities. It is created on the basis of the community of the Church of St. Nicholas the Wonderworker. The project website is http://nasha-lepta.com.ua/
The Experts Club is an analytical center that conducts research in the field of economics, sociology, healthy nutrition and other areas, as well as conducts educational activities. The YouTube channel of the project: https://www.youtube.com/c/Клубэкспертов.
Wisconsin Ukrainians Inc. is a Wisconsin-based non-profit humanitarian organization. Through the efforts of the organization, more than 61 tonnes of humanitarian and medical supplies were delivered to Ukraine for Ukrainian defenders and the population.
The organization website: https://www.wisconsinukrainians.org/
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On the YouTube channel “Club of Experts” another video was released with an analysis of the events that will take place in Ukraine and in the world in the near future.
The founder of the club of experts Maksim Urakin, together with the host Olga Levkun, analyzed the most important events in Ukraine and the world from August 8 to 14, 2022.
Among the Ukrainian events, several conferences and round tables were announced, dedicated, in particular, to doing business in a war, preparing for the heating season, developing vocational education and other topics. Also on Friday, a draft law implementing a common reporting standard in Ukraine will be presented.
Among world events, in addition to the war in Ukraine, a number of other conflicts have also entered a hot phase. Among them are the Palestinian-Israeli conflict in the Gaza Strip and the Armenian-Azerbaijani confrontation in Nagorno-Karabakh. In addition, China continues its military-political pressure on Taiwan in connection with the recent visit to the island of the Speaker of the House of Representatives of the US Congress Nancy Pelosi.
Next week, the introduction of new sanctions against coal imports from the Russian Federation by the EU and the UK is also expected.
Watch these and many 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
