Archive 2001

  • Monthly Economic Monitor Ukraine No.7 (9)

    • The formation of the new Cabinet was almost completed after several other appointments in June. 
    • Over the January to May 2001 period the real GDP growth reached 9.0% yoy cum. supported by an impressive 18.8% growth of industrial production. Internal factors, first of all domestic consumption, are at the core of this continuing tendency. 
    • During the first four months of 2001 the merchandise trade expanded by 8.7% yoy. However, new trade regulations may soon cause different results. 
    • Parliament passed the resolution “On Major Budget Policy Directions for 2002” as well as a new edition of the Budget Code including the President’s amendments. Still, the implementation of tax reform remains an unsolved problem. 
    • The NBU cut the discount rate again (from 21% to 19%) raising concerns among commercial bankers. The new reserve requirements mechanism is claimed to have caused a sudden hike in inter-bank rates.
    Issue:  No.7 (9) July 2001
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