- In January the President appointed new Ministers of Economy and European Integration, of Agrarian Policy, and of Industrial Policy.
- The Council of Europe threatens to expel Ukraine.
- Preliminary estimates show that the GDP increased by 8.5% in real terms in 2003.
- The Government decided to reimburse VAT to exporters of agricultural and food products despite the provisions of the 2004 Budget.
- The growth rate of goods imports continues to exceed that of exports, but the balance of trade in goods remains positive.
- The year 2003 ended with a central government fiscal deficit of nearly UAH 1 bn, or 0.4% of GDP.
- The NBU reacted to inflation by increasing its overnight rate from 8.0% p.a. to 8.5% p.a.
- The cash foreign exchange market regulation was tightened.