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  • Monthly Economic Monitoring of Ukraine No. 232

    20.05.2024

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    •          Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
    •          Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
    •          In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
    •          The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
    •          The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
    •          As in March, annual consumer inflation amounted to 3.2% yoy in April.
    •          At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
    •          Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.

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    The IER is preparing the publication of the Macroeconomic Monitoring of Ukraine with the financial support of the European Union within the framework of the project "Ukraine's economy during the war and support for Ukrainians affected by the war".

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