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  • IER published Monthly Economic Monitoring of Ukraine for February

    14.02.2023
    Resume
    • The decline in production in January 2023 decelerated compared to December 2022 in most sectors of the economy. Important: crop production indicators are not included in January's GDP estimates. 
    • The electricity shortage in January 2023 slightly decreased due to repairs, electricity import permits, and higher solar power generation.
    • Slow inspections by russia have resulted in smaller grain exports through seaports.
    • In 2022, the structure of foreign trade in services changed substantially. For the first time, a deficit was recorded due to a sharp increase in imports of travel services. 
    • In January 2023, Ukraine received the first tranche of a loan from the EU within the framework of macro-financial assistance for EUR 18 bn. For the subsequent tranches, Ukraine will need to do homework.
    • Additional costs due to electricity shortages have not yet significantly affected consumer prices.
    • Monthly price increases were less than 1% for three consecutive months, but acceleration is likely in the following months.
    • At the end of January 2023, the NBU's international reserves increased to USD 29.9 bn.

     

     

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