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Monthly economic monitoring

  • Monthly Economic Monitoring of Ukraine No. 237

    18.10.2024
    Free

    Executive Summary

    • According to IER, GDP in the third quarter of 2024 grew by 2.1% yoy after growing by 3.7% yoy in the second quarter.

    • Estimates of monthly real GDP growth were volatile in the third quarter due to differences in harvesting rates.

    • Problems with access to electricity and labor shortages continue to be among the biggest obstacles to companies' operations, according to a business survey conducted by the IER.

    • Energoatom has completed the repair campaign, nine power units are operating.

    • Natural gas reserves in Ukrainian underground gas storage facilities reached 12.5 bn cubic meters.

    • During the operation of the Ukrainian Sea Corridor, it transported 75 m tons of cargo.

    • September imports of goods reached USD 6 bn, while exports declined from August level.

    • In September, the government did not receive grants from international partners, and external borrowing was minimal.

    • The new plan for tax revenues and borrowings to the State Budget in 2024 looks too optimistic.

    • The situation with the financing of the State Budget in 2025 has improved due to the preliminary decision of the EU Council to provide EUR 35 bn in emergency macro-financial assistance.

    • In September, inflation reached 8.6% yoy due to higher producer costs, low harvest and higher global agricultural commodity prices.

    • Since the second half of July, the hryvnia has remained in the range of 41.0-41.5 UAH per US dollar, but the demand for foreign currency has increased in recent weeks. MEMU No.237-2024 2 GDP and Real Sector: Real GDP growth is estimated at 2.1%

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    Issue:  October 2024
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