Contents tagged with Economy of Ukraine

  • Ukrainian eurobonds six times oversubscribed

    “The first Ukrainian sovereign Eurobond placement after a long interval, the results of which are now being presented, caused a sharp dispute among investors – it was six times oversubscribed,” said Ukrainian President Petro Poroshenko.

    “This is clear evidence of the fact that today the entire world is voting with its money to trust Ukraine and the effectiveness of our reforms,” he said at a meeting with leaders of the Ukrainian community in New York on Monday.

    The Ukrainian government has …

  • Ukraine plans to attract $2 billion in borrowings on foreign markets in 2018 and 2019

    Ukraine plans to attract $4 billion in borrowings on foreign markets in 2018 and 2019, Finance Minister Oleksandr Danylyuk told reporters at the 14th annual Yalta European Strategy meeting.

    “We plan, and this is in the IMF program, to raise $2 billion in 2018 and another $2 billion in 2019. This is our benchmark. Of course, the amounts could ultimately differ,” the minister said.

    Next week Ukraine is scheduled to issue the first eurobonds in 3 years. The proceeds are expected to be used to …

  • Ukraine’s gold and foreign exchange reserves reach record level

    On 1 September 2017, Ukraine’s international reserves were the equivalent of $18.035 billion.

    The last time the reserves were higher than this was the start of 2014, the National Bank of Ukraine reported.

    The reserves are currently 16% higher than they were at the start of 2017. At the end of August the reserves had grown by $240 million, or 1.3%.

    In August, the following factors influenced the reserve amounts: the arrival of $351.5 million from the placement of domestic state bonds …

  • Ukrainian government: 8 million Ukrainians are working in the shadow economy

    During an interview with Radio Liberty, the Minister of Social Policy of Ukraine, Andriy Reva, said that to date, 8 million people are working in the "shadow" sector of the economy. According to him, one of the goals of pension reform is to eliminate the informal economy in Ukraine.

    "Today, according to our estimates, 8 million people work in the "shadow" sector of the economy and have no incentive to go legal. When we change the rules of pension provision and allow for retirement at 60, as of …

  • Ukraine’s state debt decreases by $422 million thanks to the strengthening of the hryvnia

    The total public debt of Ukraine guaranteed by the state decreased by 11.34 billion hryvnia ($422 million) or by 0.6% to 1.97 trillion hryvnia ($75 billion) in May 2017, thanks to the strengthening of the hryvnia. This was reported by Interfax-Ukraine, citing data from the Ministry of Finance.

    Since the beginning of the year, the total national publicly guaranteed debt in hryvnia has increased by 2% or by 38.22 billion hryvnia ($1.5 billion).

    In dollar terms, public debt in May increased by $1 …

  • Former President of Ukraine: The European Union has brought Ukraine to its knees

    The European Union has brought Ukraine “to its knees” and considers it as simply a supplier of raw materials. The country needs to unite to facilitate further development rather than walk around the world with an outstretched hand, former Ukrainian President Leonid Kuchma believes. He said this during a speech at the opening of the international forum, reports TV channel 112 Ukraine.

    “Our economy has been neglected, we are falling apart! We are becoming a raw material colony. All we have left …

  • The war in the Donbas has deprived Ukraine of a fifth of its GDP

    The Institute for Economics and Peace (IEP) in Sydney published the Global Peace Index 2017. According to it, Ukraine's economic losses from the conflict in the Donbas in 2016 amounted to 20.4% of the nation’s GDP. In other words, the economic cost of violence in the country is $66.7 billion according to the index of purchasing power.

    As follows from the rating, Iceland is recognized as the most peace-loving country. New Zealand is a close second while Portugal took third place. Austria is …

  • The debts of major Ukrainian businessmen are far more than Kyiv plans to borrow from the IMF

    The debts of major businessmen are a million times more than Ukraine plans to borrow from the International Monetary Fund until 2018, as stated in the article “Business Behind the Curtain” by Andrey Kaut in a periodical.

    The edition assessed the amount of debt of major businessmen to domestic and foreign-owned banks and other creditors and compared the debt with the cost of their assets, specified in public research on financial situations of the richest Ukrainians. “The richest …

  • Foreign investment in Ukraine increased by half in a year

    Last year foreign investors invested in Ukraine 3.8 billion dollars, which is twice more than the money invested in 2015.

    This was reported by the First Deputy Prime Minister - Minister of the Economic Development and Trade, Stepan Kubiv, Ukrinform reports.

    "In 2016 foreign investors have invested in Ukraine 3.8 billion dollars – two times more than the money invested in 2015," Stepan Kubiv said.

    He noted that the stabilization of the economic situation in the country resulted in Ukraine’s …

  • World Bank predicts growth of the Ukrainian economy by 2% in 2017

    The World Bank kept the forecast for the growth of Ukraine’s economy in 2017 at a 2% level, having noted the progress in reforming the system of public finances, debt policy, and the energy and banking sectors, as stated in the World Bank's "Global Economic Prospects" report.

    "Ukraine's GDP will grow against the backdrop of the improved situation in the sphere of security and effectiveness of the reforms already undertaken. Growth in 2017 is expected to reach 2%, which is unchanged compared …