Contents tagged with Economy of Ukraine

  • Ukrainians keep billions of dollars in offshore accounts

    According to international research organizations, the amount of Ukrainian money invested or kept off shore ranges from $117 billion to $167 billion. Doctor of Economic Sciences Sergey Korablin reports in the Ukrainian edition Zerkalo Nedeli that the total is equal to approximately double the country’s gross domestic product.

    Annual losses of Ukraine from offshore operations amounted to $11 billion to $12 billion. That is equal to the loans that were provided to the country through the two …

  • Ukraine still expects to issue Eurobonds under U.S. guarantees

    The Minister of Finance of Ukraine, Oleksandr Danylyuk, during an interview with journalists on the sidelines of the annual meeting of the European Bank for Reconstruction and Development (EBRD), stated that Ukraine is still planning to issue Eurobonds under U.S. guarantees. However, the exact entrance dates to the borrowing market are unknown.

    “Firstly, we should receive guarantees. We have it in our plans,” Danylyuk said.

    In April, Danylyuk said that Ukraine expects to return to the markets …

  • Ukrainian agricultural exports to the EU grew by 15%

    Ukraine’s agricultural product exports to the EU increased by 15.3% in the first quarter of this year. The Deputy Minister of Agrarian Policy and Food of Ukraine on European Integration, Vladyslava Rutytskaya, posted this on her Facebook page.

    "This list was good news to start the work week with. For the first quarter, Ukrainian agricultural product exports to the EU grew by 15.3 per cent," she wrote. According to her, it is an additional $155 million to improve Ukraine’s trade balance.

    " …

  • German companies to build several factories in Ukraine

    The number of jobs in German-owned factories in Ukraine will double in the near future. New plants will produce automotive components and will be located in the Western Ukraine. Plans to establish the automotive components plants in Ukraine were announced by the representative of the German Economic development Delegation during their visit to Kiev.

    German automakers promise to create nearly ten thousand new jobs in Ukraine. Currently, in western regions of the country over 23,000 Ukrainians …

  • The World Bank notes the first signs of the stabilization of the Ukrainian economy

    The World Bank has noted the first signs of the stabilization of the Ukrainian economy. As the World Bank Country Director for Ukraine, Belarus and Moldova, Qimiao Fan, stated on the 1st of April, the World Bank forecasts that the GDP of the country can grow by 1% in 2016 and 2% in 2017. In addition, the World Bank has estimated that inflation in the country will amount to 15% in 2016 and 11% in 2017.

    According to the representative of the World Bank, the reforms implemented by Kiev are …

  • Poroshenko discussed the investment issues with the U.S. Secretary of Commerce

    The President of Ukraine, Petro Poroshenko, met with the US Secretary of Commerce, Penny Pritzker, in Washington to discuss the issue of attracting investments to Ukraine.

    "The Ukrainian President provided an update on the progress of reforms in Ukraine, which opens new opportunities to attract American investments in the Ukrainian economy," the Press Service of the President of Ukraine reported.

    The parties also discussed the issue of attracting American credit resources. The US Secretary of …

  • Ukraine and IMF have not yet agreed on updated memorandum on cooperation

    According to the Deputy Finance Minister of Ukraine, Artem Chevalier, Ukraine and the IMF have not yet agreed on the updated version of the memorandum on cooperation.  This memorandum would detail the provision of new loans for Ukraine.

    After a press conference in Kiev, Chevalier said that “we do not have the updated version of the memorandum yet”.

    He also did not give a possible date for resuming Ukraine’s cooperation with the fund.  In response to a question about the nature of the possible …

  • Ukraine hopes to set new record for agricultural exports

    According to Ukrainian Minister of Agriculture Aleksei Pavlenko, Ukraine is the only country in the world that is able to double its agricultural production. As reported by UNIAN, Pavlenko hopes that agricultural production will set a new record in 2016, which will boost the country's exports.  

    The Minister of Agriculture's words come after signing a $100 million investment agreement for the construction of a grain terminal.

    According to Pavlenko, a key factor in achieving this goal is the …

  • Verkhovna Rada passes law disallowing Russian entities to take part in privatization

    Last year's plan to privatize state-owned enterprises will begin this year.

    The Verkhovna Rada of Ukraine has passed the law needed to start the privatization. However, it stipulated that Russian companies are not allowed to participate in privatization in Ukraine. 252 deputies voted for the amendments of Ukrainian laws concerning the clarification of provisions of №2319a.

    According to a correspondent from, the amendment prohibits legal entities and associated individuals registered …

  • Poroshenko to IMF: Ukraine will continue reforms despite crisis in relations in the government

    The President of Ukraine, Petro Poroshenko, held a phone conversation with the Managing Director of the International Monetary Fund, Christine Lagarde, in which an agreement was reached to prepare a road map for reforms, the Press Service of the President stated.

    As noted, Poroshenko stressed that Ukraine will continue reforms despite the crisis in relations between the government and the parliamentary coalition.  In addition, the President stressed the need to restart the Cabinet of Ministers …