Ukraine
_50_cal._heavy_machine_gun_1696430659.jpg)
Turkey delivers hundreds of heavy machine guns to Ukraine
Ankara continues to quietly permit defence sales to Kyiv despite attempting to serve as a neutral mediator in the conflict with Russia.
Ukraine would be entitled to a massive €186bn of subsidies over seven years if it joins the EU
As Kyiv would be entitled to approximately €186bn of EU subsidies over seven years, that would cause a revolution in how Brussels’ budget is generated and force a deep reform on the way the EU works before Ukraine can be admitted.
EU passes €50bn support for Ukraine in new budget, but US only has six months of funding left
The European Union has voted through a new multi-year budget for 2021-2027 that locks in €50bn of funds for Ukraine, but new US spending bill excludes Ukraine.
NBU abandons fixed exchange rate
The National Bank of Ukraine (NBU) has officially declared the end of the 18-month-long fixed-exchange-rate regime and introduced a "managed flexible" exchange-rate system, effective from October 3.
Ukraine bows to Hungarian demands and removes OTP bank from 'international sponsors of war' list
Budapest has used OTP being on the sponsors of war list as a pretext to block EU aid to Kyiv.
Ukraine to become “a military production hub” as counter-offensive stalls
Ukraine hosted an international defence industry conference in Kyiv on September 30. The country hopes to attract international arms manufacturers and make Ukraine a “large military production hub" to break the stalemate on the battlefield.
EU ministers discuss multi-speed Europe to prepare for enlargement
To enable enlargement of the bloc from the current 27 members, changes to decision-making processes, agricultural policies and regional aid budgets are being considered.
Ukraine releases 2024 budget plan, more spending on military, but raising enough funding will be tough
The Ukrainian government has published a draft budget for 2024, but raising enough money to fund the war effort and keep the economy working is going to be a struggle.
_1695826462.png)
Ukraine's banking sector earns all time high cumulative profits in 8M23, but month on month, earnings growth slows a little
Ukrainian banks continued to earn strong profits in the first eight months of 2023, recording a profit of UAH 95.1bn ($2.5bn), according to National Bank of Ukraine (NBU) data.
EBRD projects slowdown in Central Europe, robust growth in Eurasia
High gas prices, China slowdown and shifts in industrial production contribute to slower growth in Central Europe.
Lavrov confirms Ukraine war peace deal reached last April, but then abandoned
Russian Foreign Minister Sergei Lavrov claimed a peace deal was reached with Ukraine last April, saying all the points were initialled before the deal was abandoned under Western pressure in his “Empire of Lies” speech at the UN on September 23.
_change_y_y__0_1695720968.png)
Retail trade turnover in Ukraine up 7.3% in 1H23 and 23.3% in June y/y
Retail trade turnover in Ukraine is bouncing back thanks to the stabilisation of the economy and low base effects, Ukrstat reported on September 26.
NBU said interest rates could be cut to 18% by the end of year as inflation falls
The National Bank of Ukraine (NBU) says a reduction in the key policy rate to 18% by the end of the year as part of its efforts to support economic recovery is likely, UBN reported on September 26.
Ukrainian world war vet invited to Canadian parliament fought in Nazi unit
In a major embarrassment for Canada, it was revealed that a Ukrainian veteran, invited to Canada’s parliament on the occasion of a visit by Ukrainian President Volodymyr Zelenskiy at the weekend, had served in the Waffen SS during WWII.
Trade data shows Ukraine war has consolidated political blocs
A release by the World Trade Organisation shows that both trade between as well as trade within blocs has suffered as sanctions and blockades in the aftermath of the Russian invasion have stood in the way of trade flows.
Earth’s energy imbalance – world is starting to cook
The earth’s energy is out of balance and the world is starting to cook, says a new report. The authors include James Hansen, who testified to the US Congress on global heating as long ago as 1988.
Russian Foreign Minister roasts US and its European allies as an "Empire of Lies" in UN speech
The United States and its European allies are an "empire of lies," undertaking commitments it has no intention of fulfilling, Russian Foreign Minister Sergey Lavrov told delegates in his speech at the 78th United Nations General Assembly.
_1695544474.png)
Ukraine puts in first GDP growth since the war began
Ukraine puts in first GDP growth since the war began of 19.5% as the economy starts to stabilise and low base effects push growth numbers up. The economy grew 0.8% on a q/q basis.
Ukraine can’t join the EU until the Common Agricultural Policy is reformed
On December 16 the European Council starts negotiations with Kyiv to join the EU. But while no one expects the process to go quickly, Ukraine cannot join at all unless the EU first reforms its Common Agricultural Policy.
Ukraine’s anti-corruption agency NABU drifting into the president’s orbit
Under the leadership of Semen Kryvonos, the newly appointed head of Ukraine's National Anti-Corruption Bureau (NABU), concerns grow about the bureau's independence, as it appears to be falling under the influence of the president’s office.