Archive 2012

• Monthly Economic Monitor Ukraine No.8 (142)

  10.08.2012
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  • HIGHLIGHT OF THE MONTH: Bioethanol blending mandates - BIOFUELS POLICY, TECHNICAL CONSTRAINS AND ECONOMIC COSTS
  • Politics: According to the Freedom House report democracy in Ukraine is in decline.
  • Real Sector: Industrial output declined by 1.4% yoy in part due to low number of working days.
  • Sectoral news: Gazprom provided financing to the Naftogaz to support gas purchases.
  • External sector: Current account deficit widened to USD 1.0 bn in June as financial and capital account swung to the deficit of USD 0.5 bn.
  • Fiscal policy: New amendments to the Tax Code were introduced to consolidate tax policymaking in the Finance Ministry.
  • Social policy: Own revenues of the Pension Fund increased by 14.9% yoy in the first half of 2012 and allowed the Government to decrease transfer to finance pensions.
  • Labour market: Wages fell in private sector in June due to low working time.
  • Monetary policy: In July CPI fell by 0.2% yoy as food prices fell by 3.0% yoy.
  • Financial markets: Ukraine placed USD 2 bn issue of Eurobonds in July.
  Issue:  No.8 (142) August 2012