Ukraine’s international reserves increased by $800 million in April. This is a 3.1% climb, according to the National Bank of Ukraine. In total, Ukraine now has $25.7 billion in foreign currency, gold and other assets, which is enough to cover more than four months of future imports.
Inflation in Ukraine slows to 2.1%. Consumer prices in Ukraine in April grew only by 0.8%, bringing the average inflation in 2020 down to 2.1%, the State Statistics Service reported. This figure is significantly lower than in March (2.3%) and in 2019 (4.1%). The central bank forecasts inflation to be 6% by the end of 2020. In April, prices significantly increased for buckwheat (18%) and fruit (12.8%).
Ukraine’s branch of Russian Alfa-Bank sees 1.5-times increase in net profit. Alfa-Bank Ukraine’s net profit amounted to $71.5 million, which is 1.5 times more than in 2018. Alfa-Bank’s assets in Ukraine have grown by 18.4% over the year to $2.6 billion. The National Bank of Ukraine has ranked it sixth among 75 operating banks in terms of total assets.
IKEA could launch an online store in Ukraine in the coming days. The Swedish furniture giant plans to launch online sales in Ukraine “in the next few days,” Florian Mellet, head of IKEA in Ukraine, said. Its Ukrainian website, ikea.ua, is already available for previews. “IKEA reaffirms its commitment to Ukraine and plans to make the range of functional products with attractive designs and prices affordable to as many Ukrainians as possible,” Mellet said.
The Pivdenny seaport sees its net profit rise by 21 times. The net profit of the seaport was $8 million, which is 21 times more than during the same period in 2019. Acting CEO Oleksandr Oliynyk praised “effective planning.” In the first quarter of 2020, the port handled almost 4.6 million tons of cargo, a historic maximum. The cargo range includes ore (83%), coal, cast iron, grain and mineral fertilizers. Ninety percent of the company’s net profit has been transferred to the state.
Electricity tariffs for the public will remain unchanged. The price of electricity for the population won’t change, acting Energy Minister Olha Buslavets has said. “There is no need to disturb the population,” she added.
Press sales outlets, printing houses, newsrooms can resume work. Despite the quarantine, Ukraine’s government has allowed mass media and all the enterprises affiliated with them to return to work on May 11. The film industry can also return to normal life, provided their employees wear medical masks and keep a safe distance from one another.
Ukraine has cut poultry exports and imports. The export of poultry and offal dropped by 0.5% in January-April 2020 compared to the same period in 2019 – to 138,000 tons or $178 million in money equivalent, the State Customs Service has reported. Meanwhile, poultry imports have decreased by 33% to 26,000 tons or $11 million.
Meanwhile, Ukrainians have started to eat more cheese and butter. In January-April, Ukraine imported 13,000 tons of cheese worth $58 million, which is 2.5 times more than during the same period last year. The import of butter saw an even bigger increase – Ukraine imported 4,100 tons and paid $17 million for butter over the first four months of 2020, while last year the figure was only $2.3 million for a relatively meager 370 tons.
