Archive 2012

• Monthly Economic Monitor Ukraine No.10 (144)

  10.10.2012
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  • Highlight: State Budget 2013 - UKRAINE’S FISCAL STANCE REMAINS VULNERABLE
  • Politics: In September Ukraine initiated talks with the WTO on customs duties revision.
  • Real Sector: Industrial output in August dropped by 4.7% yoy due to contraction in manufacturing.
  • Sectoral news: Ukraine has applied to the Russian Gazprom for purchase of 24.5 bn cubic meters of gas for 2013 as compared to expected purchases of 27 bn cubic meters in 2012.
  • External sector: Current account deficit widened to USD 1.5 bn in August as improvement in services exports from travel was offset by unusually high net yield outflows.
  • Fiscal policy: Lower revenues and deficit resulted in under-execution of the central fiscal expenditures (due to general fund) in first eight months of 2012 by 8.0% of the plan.
  • Social policy: The Pension Funds’ deficit was again covered by the special central fiscal transfer and loans received from the State Treasury.
  • Labour market: Gross wages grew by 16.8% yoy due to increase in average wages in all sectors of economy against the background of unchanged employment.
  • Monetary policy: In September CPI remained at the level of the same month of 2011.
  • Financial markets: The Government attracted more funds on domestic and global capital markets in September.
  Issue:  No.10 (144) October 2012