Archive 2015

  • Monthly Economic Monitor Ukraine No.6 (176)


    Highlight: Gas market reform

    Politics: In May, Ukraine failed to get a visa-free regime for short trips of its nationals to the EU due to slow progress of Ukraine in the implementation of the EU-Ukraine Visa Liberalisation Action Plan.

    Real Sector: Decline in the industrial output in April at 21.7% yoy was close to drop in March, which might signal that Ukrainian economy reached the bottom.

    Energy sector: Gas prices for industrial consumers and overall gas consumption are currently on the downward trend.

    Agriculture: Sown area (not including Crimea) under grain and leguminous crops decreased by 10.5% likely due to higher inputs prices and lower world prices.

    Privatisation: The Government approved ambitious list of companies to be privatised in 2015.

    External sector: Current account in April was positive at USD 0.2 bn as merchandise imports contracted at a faster pace than exports.

    Fiscal policy: Growth of consolidated fiscal revenues in May sharply decelerated to 19.5% yoy from over 40% yoy during the previous two months.

    Social policy: Number of recipients of housing and utility subsidies more than doubled and reached 7.8% of all families.

    Labour market: Decline in real average wage accelerated to 29.6% yoy. The sharpest decline was in public sectors.

    Monetary policy: In May, monthly core inflation slowed down below 2% for the first time since August 2014.

    Exchange rate: In May, interbank exchange rate continued to fluctuate in the band set by the NBU..

    State debt: During May the Government continued talks on the restructuring of external state debt with Eurobond holders. So far, agreement was not reached.


    Issue:  No.6 (176) June 2015
    Attached file  (349.9 kb)
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