Current Account in Ukraine
Ukraine - Current Account (billions of U.S. Dollars)A second estimate confirmed that the economy contracted in the first quarter for the first time in over three years. Fixed investment plummeted, hurt by bleak economic prospects and a high share of unprofitable companies, while public spending also tumbled amid poor government finances. Moreover, the sharp global downturn due to the coronavirus pandemic dented exports. Turning to the second quarter, available data points to a worsening recession as the brunt of restrictions to contain the virus began to kick in: In May, industrial production plunged for the third consecutive month and retail sales growth fell to an over three-year low. Meanwhile, on 9 July, the IMF approved a USD 5 billion loan deal for Ukraine and the country received an immediate release of USD 2.1 billion, a much-needed economic lifeline for the government. However, the recent departure of Central Bank Governor Yakiv Smolii bodes poorly for continued creditor-demanded reforms.
Ukraine - Current Account (USD bn) Data
|Current Account Balance (USD bn)||1.6||-1.3||-2.4||-4.4||-1.3|
5 years of economic forecasts for more than 30 economic indicators.
Ukraine Current Account (USD bn) Chart
Source: National Bank of Ukraine and FocusEconomics calculations.
|Bond Yield||19.00||0.0 %||Jul 27|
|Exchange Rate||23.70||0.30 %||Jan 01|
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July 23, 2020
At its 23 July monetary policy meeting, the National Bank of Ukraine (NBU) decided to hold the key policy rate at 6.00%, against market expectations of a 25-basis point cut.
July 13, 2020
Consumer prices rose 0.20% in June over the previous month, coming in below May's 0.30% rise.
June 26, 2020
Industrial production fell 12.2% over the same month last year in May, after a 16.2% drop in April, which had marked the worst result since May 2015.
June 19, 2020
The economy swung to contraction in the first quarter, with GDP decreasing 1.3% year-on-year (Q4 2019: +1.5% year-on-year).
June 11, 2020
At its 11 June monetary policy meeting, the National Bank of Ukraine (NBU) decided to slash the key policy rate to 6.00% from 8.00%, marking the ninth consecutive cut.