Ukraine: retail trade turnover up in Q1 2019

In January-March, retail trade turnover in Ukraine reached UAH 235.8 billion, up by 12.5% YoY, the State Statistics Service reports. The biggest growth in retail trade turnover over the reporting period was recorded in the city of Kyiv (UAH 45.05 billion), Dnipropetrovsk region (UAH 22.2 billion) and Kharkiv region (UAH 19.1 billion). The lowest retail…

Ukraine: average wage reaches almost UAH 8,400

The average wage in Ukraine in February amounted to almost UAH 8,400, the Pension Fund of Ukraine reported. “The average wage rate for February was approved, from which insurance contributions were paid and which, in accordance with the Law of Ukraine “On Compulsory State Pension Insurance”, is taken into consideration for pension accounting,” the report…

Ukraine: return of PrivatBank to former owners impossible

The return of PrivatBank to its former owners due to the court ruling that declares nationalization of PrivatBank illegal is impossible, NBU First Deputy Governor Kateryna Rozhkova said at a press briefing regarding appeal against the court decision to nationalize PrivatBank, the NBU’s press service reported. “PrivatBank’s nationalization was an important step towards ensuring financial…

Ukraine: hryvnia to weaken by year-end

S&P Global Ratings predicts the hryvnia, Ukraine’s national currency, will have weakened against the U.S. dollar to UAH 28.6 by the end of 2019. The hryvnia is expected to drop to UAH 29.5 per dollar in 2020, to UAH 30 in 2021, and to UAH 30.5 in 2022, according to the agency’s press release. Ukraine’s…

Ukraine: business wants to see economic stability and investment protection

In Ukraine, business needs macroeconomic stability, the rule of law, the eradication of corruption and the protection of investments and property, President of the American Chamber of Commerce in Ukraine Andy Hunder said at a meeting with business representatives, held with the participation of President Petro Poroshenko. “Business wants to see economic stability. Reforms should…

Ukraine: labor migrants’ remittances up in 2018

The volume of remittances through digital services and PrivatBank offices in 2018 grew by 25% YoY, to $2.6 billion. Over 60% of remittances were received exclusively via digital services, according to the bank’s press service. Referring to the statistics of the National Bank of Ukraine on $5.67 billion of money transfers through official channels, PrivatBank…

Ukraine: cheese exports down in Q1 2019

Cheese exports from Ukraine in January-March totaled 1,600 tons, down by 14% YoY. The shipments of Ukrainian cheese abroad in monetary terms over the period under review shrank by 19%, to $5,800 million, according to customs statistics reports posted by Ukraine’s State Fiscal Service (SFS) on its website. Cheese imports in Q1 increased by 43%,…

Ukraine: tax debt exceeding $4 billion

Deputy Chairman of the State Fiscal Service (SFS) of Ukraine Yevhen Bambizov says the agency, due to the lack of effective mechanisms to influence debtors to recover tax debt that exceeds UAH 107 billion ($4 billion), insists on expanding its powers. “Tax debt accounts for 10% of the state budget revenue for the current year.…

Ukraine: berries export up in 4 years

Ukraine has increased the export of berries almost 5-fold over the past four years: from 4.5 thousand tons to 23.5 thousand tons, the Agrarian Policy and Food Ministry’s press service reported. “Ukrainian fresh berries are exported to Belarus, Poland, Moldova, the UK and the Netherlands. The EU countries have become the largest consumers of frozen…