finance

World Bank cuts Ukraine’s 2025 GDP forecast to 2% as war rages on

The World Bank has downgraded its 2025 GDP growth forecast for Ukraine to 2% from 6.5% in its June report but raised the 2026 forecast to 7% from 5.1%, according to its Global Economic Prospects report published on Jan. 17, 2025.

17 January 2025, 01:47 PM

Biden strengthens Russia sanctions days before Trump takes office

U.S. President Joe Biden’s administration has launched a mechanism of secondary sanctions against all contractors of major Russian companies in a sweeping effort to close loopholes in existing restrictions, Treasury Department wrote on Jan. 15.

16 January 2025, 11:56 AM

Ukraine's international reserves grow by 9.7% in December 2024

Ukraine's international reserves increased by 9.7% in December 2024, reaching $43.788 billion, thanks to financial aid from international partners, the National Bank of Ukraine reported on Jan. 7.

7 January 2025, 07:24 PM

After grain and cement, Poles rally against another Ukrainian product

The Polish Association of Poultry Producers has called for reducing import quotas on Ukrainian chicken from 137,000 tons to 90,000 tons after June 2025, Pulz Biznesu reported on Dec. 23, citing Dariusz Gościński, president of the National Poultry Council of Poland.

23 December 2024, 12:28 PM

Ukraine underutilizing its defense industry by up to 50%, expert says

Ukraine is still not making full use of its domestic defense industry, Oleksandr Danylyuk, a former adviser to Ukraine's defense minister and a corresponding member of the Royal United Services Institute (RUSI), told NV Radio on Oct. 29.

30 October 2024, 02:12 AM

New war bonds available in Diia app

Two new issues of war bonds are now available in Ukraine’s Diia e-governance app, Digital Transformation Minister Mykhailo Fedorov announced on Oct. 23.

24 October 2024, 12:37 AM

Hryvnia no longer reacts to Russian attacks, central bank governor says

The financial markets in Ukraine have stabilized despite the ongoing war, the governor of the National Bank of Ukraine (NBU), Andriy Pyshnyy, said in an interview with Interfax-Ukraine on Oct. 15.

15 October 2024, 01:50 PM

Shmyhal discusses Cabinet plans for 2025 budget

The Cabinet of Ministers expects state budget revenues to rise nearly 30% in 2025, while expenditures are projected to grow by 20%, Prime Minister Denys Shmyhal announced this during a recent government meeting.

20 September 2024, 05:25 PM

Rising prices will continue: National Bank of Ukraine lists causes of inflation acceleration

Consumer inflation in Ukraine rose to 5.4% year-over-year in July 2024, up from 4.8% in June.

7 September 2024, 07:26 PM

Rada approves increase in defense spending by UAH 500 billion in first reading

The Verkhovna Rada of Ukraine approved in the first reading the bill No. 11417, which increases the 2024 state budget by UAH 500 billion.

3 September 2024, 04:36 PM

PrivatBank to dismiss CEO early

The Supervisory Board of PrivatBank has decided to terminate CEO Gerhard Boesch’s contract early, effective Nov. 1, which will be his last working day at the bank.

2 September 2024, 04:00 PM

Cabinet revises tax hike bill — What has changed

The Cabinet of Ministers has revised the bill on raising taxes in Ukraine.

27 August 2024, 12:16 PM

Ukraine raises external budget funding request to $35 billion for next year

Ukraine’s Ministry of Finance announced it needs $35 billion in external funding for next year’s budget, up from the $22.7 billion estimated by the IMF’s EFF program, according to Deputy Finance Minister Olha Zykova.

21 August 2024, 12:16 PM

Germany halts new military aid requests for Ukraine under Scholz's directive

Germany's updated 2025 budget draft does not include increased military aid for Ukraine, according to Frankfurter Allgemeine Sonntagszeitung on Aug. 17.

17 August 2024, 03:03 PM

Foreign banks block payments from Ukrainian companies' registered in temporarily occupied oblasts — NBU

Foreign banks often do not figure out where exactly Ukrainian company is registered - whether the territory is Ukraine-controlled or not - and block payments to all, the NBU reported on its website on Aug. 6.

7 August 2024, 02:13 PM

Naftogaz CEO reveals company's true losses and profits

Naftogaz, Ukraine's national oil and gaz company, is on the financial upswing, thanks to the lack of governmental pressure, CEO Oleksiy Chernyshov said in an interview with NV Business.

6 August 2024, 02:23 PM

Raiffeisen bank limits services for Russians under regulatory pressure

The Russian division of Austria's Raiffeisen Bank International announced a temporary suspension on opening new brokerage accounts, Reuters reported on Aug. 5.

6 August 2024, 11:05 AM

U.S. Special Representative Penny Pritzker unveils Ukraine recovery plan

U.S. Special Representative for Ukraine’s Economic Recovery Penny Pritzker outlined a plan with five key conditions for ensuring the success of Ukraine’s recovery, Voice of America reported on Aug. 3.

4 August 2024, 01:09 PM

Ukraine's Cabinet of Ministers approves terms for Eurobonds restructuring

The Ukrainian Government has approved Ukraine's principal agreements with the Eurobonds owners special committee in the amount of about $23 billion, governmental website wrote on July 31.

2 August 2024, 10:45 AM

Ukraine set to receive $50 billion G7 loan by October

The G7 countries are likely to finalize a framework agreement to provide Ukraine with a $50 billion loan using proceeds from frozen Russian assets by October, European Economic Commissioner Paolo Gentiloni announced during a meeting of G20 finance ministers and central bankers in Rio de Janeiro, Reuters reported on July 25.

26 July 2024, 11:13 AM

finance

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