- Parliament approved a new draft law on constitutional changes in the first reading.
- The real GDP grew by 11.3% yoy between January and May, while industrial output increased by 16.9% yoy.
- Kryvorizhstal, the largest metallurgical enterprise in Ukraine, was privatised.
- The Energy Company of Ukraine was established.
- The current account balance reached USD 1.7 bn (14.3% of GDP) during the first quarter of 2004.
- The 2004 State budget was revised by the Parliament, increasing budget revenues by UAH 4.5 bn and expenditures by UAH 8 bn.
- To alleviate inflationary pressures on the economy, the NBU undertook steps to reduce monetary growth.
- The NBU turns towards slight appreciation of national currency.