Institute news

• Monthly Economic Monitoring of Ukraine No. 236

  19.09.2024

  Resume
  •According to the IER, GDP in August declined by 2.1% yoy, compared to growth of 4.4% yoy in July, reflecting faster completion of early harvesting in 2024.
  •In August, power outages decreased, contributing to enterprises' activities.
  •Naftogaz has started importing natural gas from the EU, which will be stored in the "customs warehouse" regime and will be used only in case of emergencies and only for business needs.
  •During the year of operation of the Ukrainian Sea Corridor, it transported 64.4 m t of cargo.
  •According to the State custom service, exports in August amounted to USD 3.42 bn, while imports amounted to almost USD 5.9 bn.
  •In August, state budget revenues were record-high: UAH 448 bn, 2.5 times higher than in August 2023 due to a record amount of grants of UAH 228 bn.
  •The Parliament adopted amendments to the State Budget for 2024 to increase funding for defense and security.
  •Tax changes that should help finance higher defense spending have not yet been finalized. The main discussions are about the feasibility of 50% of the CIT for banks.
  •The Government has submitted a draft State Budget for 2025 to the Parliament. External financing is planned of more than USD 38 bn. However, it is not yet clear who will provide such funding.
  •In August, inflation accelerated again to 7.5% yoy compared to 3.3% yoy in May.
  •Since the second half of July, the hryvnia has remained in the 41.0-41.5 UAH range per US dollar.

  Download