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Archive 2013

  • Monthly Economic Monitor Ukraine No.2 (148)

    11.02.2013
    • Highlight: IMF - IMF AND UKRAINE: MERRY-GO-ROUND
    • Politics: The IMF mission has returned to Kyiv to discuss new Stand-By Agreement. The result is not clear.
    • Real Sector: Ukraine’s economy is currently in recession due to external imbalances and weak domestic institutions.
    • Energy sector: Ukraine attempts to decrease energy dependency from Russia.
    • Agriculture: Grains export margin, which was originally agreed for current marketing year between the Ministry and grain traders, was reached last month.
    • External sector: Current account deficit widened to 8.2% of GDP in 2012 as merchandise trade deficit reached record USD 20.4 bn.
    • Fiscal policy: Central fiscal expenditures were under-executed by 7.4% despite rapid increase in deficit.
    • Social policy: Coverage of families by housing and utility subsidies declined as income was growing, while tariffs remained almost unchanged.
    • Labour market: Wage growth decelerated reflecting decline in economic activity in most sectors.
    • Monetary policy: Interbank rates slid below 5% p.a. as monetary conditions loosened in January.
    • Financial markets: State debt increased by 8.9% in 2012.
    Issue:  No.2 (148) February 2013
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