Archive 2015

  • Monthly Economic Monitor Ukraine No.12 (182)


    Highlight: Tax reform

    Politics: The Parliament may vote for resignation of the Government after December 11, when a one-year period after an approval of government’s action plan expires. However, the resignation of the government in the nearest months is unlikely.

    Real sector: According to the flash estimate of the Ukrstat, drop in real GDP in the third quarter of 2015 decelerated to 7.0% yoy.

    Energy sector: In November, electricity transmission to Crimea from the continental part of Ukraine was stopped.

    Agriculture: Gross agricultural production in October decreased by 4.4% yoy due to lower crop harvest and decline in livestock production.

    External sector: Current account deficit in October broadened to USD 0.3 bn because of wider deficit of trade in goods.

    Fiscal policy: The Ministry of Finance submitted to the Parliament number of draft laws including the Draft State Budget Law for 2016 and draft law on amendments to the Tax Code.

    Social policy: Social standards (e.g. minimum pension and minimum wage) will decrease in real terms on average in 2016.

    Labour market: Average wage grew by 4.3% mom, which is more than seasonally, due to minimum wage increase.

    Monetary policy: Monthly core inflation in November remained moderate at 0.7% mom.

    Exchange rate: In November, interbank exchange rate moved in UAH 23-24 per USD range.

    State debt: The third IMF loan tranche under the EFF program (worth USD 1.7 bn), which was planned for December 2015, was postponed until 2016.

    Issue:  No.12 (182) December 2015
    Attached file  (367.8 kb)
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