Posted inEconomy

Breadbasket of Europe: Ukraine was the European Union’s third largest agricultural supplier in 2023

Ukraine is the third largest agricultural supplier to the EU, according to new figures released by the European Commission in January. Data covering the period from January to October 2023 showed Ukraine in the number three position among agri-food exporters to European Union markets behind first placed Brazil and the United Kingdom, with the United […]

Posted inEconomy

World Bank forecast: Ukraine could be Europe’s fastest-growing economy by 2025

The World Bank expects Ukrainian GDP to increase by 6.5% in 2025, the highest anticipated growth rate in Europe. In a newly released January 2024 Global Economic Prospects overview, World Bank analysts have also upwardly revised their earlier estimate for Ukrainian GDP growth in 2023 from 2% to 4.8%. This optimistic outlook mirrors a similarly […]

Posted inEconomy

Leading Turkish e-commerce company plans to launch in Ukraine despite wartime challenges

One of the largest Turkish e-commerce companies had confirmed plans to launch in Ukraine. In a January 7 interview with Bloomberg, Hepsiburada CEO Nilhan Onal Gokcetekin said the company is ready to begin large-scale Ukrainian sales if an initial trial run proves successful. The Hepsiburada chief executive said her company is not deterred by the […]

Posted inEconomy

Ukraine exports 10 million tons of agricultural produce since breaking Russia’s Black Sea blockade

Ukraine has exported more than 10 million tons of agricultural produce since breaking the Russian naval blockade of the country’s Black Sea ports five months ago, Ukrainian Infrastructure Minister Oleksandr Kubrakov announced on 8 January. According to Kubrakov, Ukraine has now shipped almost 15 million tons of cargo in total following the launch of a […]

Posted inEconomy

Credit Agricole impressed by the adaptability of Ukraine’s resourceful agricultural sector

Credit Agricole Bank has been closely engaged in the development of the Ukrainian agricultural sector for the past three decades, but nothing could quite prepare the bank or its clients for the unique challenges presented Russia’s full-scale invasion of the country when it began in February 2022. With the war now approaching the two-year mark, […]

Posted inEconomy

IMF upgrades Ukraine’s 2023 GDP growth forecast to 4.5% amid “stronger than expected recovery”

The International Monetary Fund has upgraded its 2023 GDP growth forecast for Ukraine to 4.5% while praising the “remarkable resilience” of the country’s wartime economy. The new figure is a significant increase on the earlier forecast of growth between one and three percent. Speaking in Polish capital Warsaw on November 10 following a meeting with […]

Posted inEconomy

Survey: 58% of Ukrainian companies expect to see positive business dynamics in 2024

The new Business Forecasts for 2024 survey conducted by Ukraine’s European Business Association (EBA) has identified a range of positive indicators that point to growing confidence within the Ukrainian business community despite Russia’s ongoing invasion. Released on 11 September, the survey found that more than half of respondents (58%), expect to see their business develop […]

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Carlos de Cordoue: Ukraine can offer huge opportunities to those who are here at beginning of reconstruction story

In May 2023, France’s Credit Agricole marked thirty years in Ukraine, being the oldest international bank on the Ukrainian market. In normal circumstances, such a milestone would be an occasion to stage a major corporate celebration, but that was obviously not possible this year due to the realities of Russia’s ongoing invasion. Nevertheless, Credit Agricole […]

Posted inEconomy

Building business bridges between Ukraine and Europe

More than eighteen months since the onset of Russia’s full-scale invasion, the Ukrainian economy is in significantly better health than many would have dared imagine on the terrible morning of February 24, 2022. While the war unleashed by Russia has caused barely imaginable disruption to almost every aspect of daily life, Ukrainian businesses have demonstrated […]

Posted inEconomy

State-owned Oschadbank is preparing to play key role as hub in Ukrainian reconstruction

Although there remains no end in sight to Russia’s full-scale invasion, discussion over the future postwar recovery and reconstruction of Ukraine has already gained considerable momentum. Since the invasion began on February 24, 2022, a number of international forums and conferences dedicated to reconstruction have been held in Switzerland, London, and elsewhere. Current projections for […]