Executive Summary
- According to the Ukrstat, industrial performance in January was worse than our estimates.
- According to the IER, real GDP grew by only 0.8% yoy in Q1’2025.
- Four nuclear power units are under maintenance.
- In April, electricity imports decreased by 30% mom to 191 thous. MWh. Electricity exports almost doubled to 157 thous. MWh.
- In January-April 2025, more than 28 m t of cargo, including more than 15 m t of grain, were transported through the ports.
- Exports of goods fell by 2% yoy in April, while imports increased by 7% yoy.
- In April, the budget situation was favorable and Ukraine received the expected funds from international partners. At the same time, the risks of receiving the next tranche within the Ukraine Facility have increased.
- In April, inflation slowed to 0.7% mom, the lowest since last summer
- The hryvnia remained stable against the dollar against the backdrop of lower demand for cash currency.
