ukrainianeconomy
The Ukrainian economy will likely grow by 3 percent in 2024, the United Kingdom's Defense Ministry predicted on May 16. The forecast aligns with previous reports from theInternational Monetary Fund (IMF) and the National Bank of Ukraine (NBU), which both anticipated growth rates between 3 and 4 percent. The U.K. Defense Ministry described Ukraine's wartime economy as "resilient" in the face of intensifying Russian attacks on the nation's power grid. "Despite attacks by Russia on Ukraine's energy infrastructure, it is likely that Ukraine will see real economic growth of around 3 percent in 2024...
Kyiv Independent
Conscription exemptions for employees of Glovo, Favbet Tech, Visa, and other technology companies will be canceled following public outcry, Economy Minister Yulia Svyrydenko announced on May 16. Last month, Ukraine's government decided to exempt from conscription employees at Favbet, Glovo, and the American-owned payment corporation Visa for six months. Glovo is a popular food delivery app in Ukraine, while Favbet is an online gambling site. Other companies included in the postponement included an advertising agency, a software development company called Agri Chain, and Kort, a company that de...
Kyiv Independent
More than 8 million passengers traveled on Ukrainian Railways' trains between January and April 2024, indicating a 25% person increase compared to 2023, the company reported on May 2. Ukraine's state-owned railway company, Ukrzaliznytsia, announced on Twitter that a total of 8.43 million passengers traveled on Ukrainian Railways' trains between January and April 2024. Around 6.78 million passengers traveled through Ukrainian Railways during the same time frame in 2023. Additionally, Ukrzaliznytsia reported that 93% of the company's domestic trains arrived on time. Throughout the full-scale inv...
Kyiv Independent
Seventy-four percent of surveyed companies in Ukraine are experiencing a personnel shortage, according to a new study published by the European Business Association (EBA) on April 24. This is a significant increase from the 55% of surveyed employers experiencing a shortage in 2023. The study noted that nearly three-quarters of surveyed employers are struggling with a hiring shortage, 17% are experiencing a partial shortage, and only 7% are not experiencing a shortage of any kind. Previous studies of Ukraine's labor market took place in the fall of 2023 and revealed that 55% of employers strugg...
Kyiv Independent
The International Monetary Fund (IMF) predicts that Ukraine's gross domestic product (GDP) will grow by 3.2% in 2024 and by up to 6.5% in 2025 even as the country continues to grapple with the full-scale invasion. Around the same time last year, the IMF initially estimated a 3% decline in Ukraine's GDP in 2023 before publishing a forecast of an improved growth of 2% by the end of the year. The 2024 World Economic Outlook report also includes data on changes in the country's consumer prices, which are expected to increase 6.4% in 2024 and 7.6% in 2025. Ukraine's unemployment is projected to dec...
Kyiv Independent
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