Archive 2014

  • Monthly Economic Monitor Ukraine No.1 (159)


    Highlight: Year 2013

    Politics: The Ukrainian President and his Russian counterpart reached an agreement, according to which Russia promised to purchase Ukrainian Eurobonds at USD 15 bn and Russian Gazprom agreed on the reduction of gas price to USD 268 per thousand cubic meters.

    Real Sector: Industrial output declined by 4.7% yoy as domestic and external demand remained weak.

    Energy sector: Reduction of imported natural gas price by Russia discourages Ukrainian enterprises from investing into energy efficiency projects that might have increased the companies' competitiveness.

    Agriculture: The Cabinet of Ministers changed rules for trade by agricultural products.

    Privatisation: According to the draft State Budget for 2014 the planned privatization receipts are expected at UAH 17 bn.

    External sector: Merchandise trade deficit narrowed to USD 1.4 bn in November from USD 2.3 bn in October reflecting stagnant exports and lower gas imports due to payment dispute with Russia.

    Fiscal policy: The State Budget Law for 2014 was not approved due to the lack of political consensus.

    Social policy: Real disposable income growth decelerated to 1.9% yoy in the third quarter of 2013 from 4.7% yoy in the second quarter due to slower growth of all income components.

    Labour market: Unemployment rate (ILO methodology) declined to 6.2% of economically active population in age of 15-70 in the third quarter of 2013 despite economic recession.

    Monetary policy: Headline consumer inflation was again positive at 0.5% yoy in December as compared to drop of 0.6% yoy in September.

    Financial markets: Exchange rate remained broadly stable in December despite civil unrest.

    Issue:  No.1 (159) January 2014
    Attached file  (165.5 kb)
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