Print

Archive 2014

  • Monthly Economic Monitor Ukraine No.4 (162)

    11.04.2014
    Free

    Highlight: Anti-crisis measures - CAN THE GOVERNMENT ENSURE MACROECONOMIC STABILITY?

    Politics:On March 21, Russia officially annexed Crimea, a peninsula with population of 2.4 m in the south of Ukraine.The annexation was not recognized by Ukraine and by the international community.

    Real Sector:Industrial output in February declined by 3.7% yoy due to weak domestic and external demand.

    Energy sector:The National Energy Regulation Commission raised gas tariffs for all types of consumers to reduce deficit of the Naftogaz.

    Agriculture: The Government somewhat revised taxation rules and reduced fiscal spending for agriculture.

    External sector: Current account deficit in February reduced to USD 0.1 bn mainly due to decline in merchandise imports.

    Fiscal policy: Taking into account high fiscal gap and unrealistic fiscal parameters approved in the initial State Budget Law for 2014 the Government revised downwards all major fiscal parameters.

    Privatisation: The plan for privatisation receipts for 2014 is ambitious and is not likely to be executed.

    Social policy:Real disposable income growth in 2013 decelerated to 5.3% due to slower growth of all income components.

    Labour market: Unemployment rate of economically active population in age of 15-70 (ILO methodology) declined to 7.6% in the fourth quarter of 2013.

    Monetary policy: Consumer inflation surged to 3.4% yoy in March in response to hryvnia depreciation and increase in inflation expectations.

    Exchange rate:InMarchhryvniaweakenedsharplyastheNBU refrained from supporting exchange rate through interventions.

    State debt: State borrowings were lower than target in the first quarter of 2014 due to low demand for state domestic bonds and no access to international capital markets.

    Issue:  No.4 (162) April 2014
    Attached file  (134.4 kb)
Share:
Powered by

Activemedia
© 2020
The Institute
for Economic Research
and Policy Consulting
address:
Reytarska 8/5-,
01054 Kyiv, Ukraine
tel.:
+ 38 044 278-63-42
+ 38 044 278-63-60
fax:
e-mail:
+ 38 044 278-63-36
institute@ier.kyiv.ua
Use of site materials is allowed on condition of reference (for the internet publishing - links) on www.ier.com.ua