China defends its economic model, which prioritizes industry over consumption. Beijing shows confidence on the eve of trade negotiations with Europe and the US.
Global oil prices rose about 21% in July due to the escalation of the conflict between the US and Iran. US WTI crude is trading near $84 per barrel, while Brent is around $89.
The National Bank of Ukraine presented a macro forecast for 2026-2028, expecting $54 billion in international aid in 2026. Key risks include missile strikes and funding delays.
Pakistan uses ties with the US and Iran to mediate in the war. The country hopes to strengthen its economic position and international authority.
Ukraine received the second IMF tranche of about $690 million under the four-year EFF program. The funds will be directed to support macro-financial stability and priority expenditures.
The Ministry of Energy refuted information about fixing increases in gas and electricity tariffs from 2027. It was emphasized that the memorandum only provides for the preparation of a roadmap for energy sector reform by the end of 2026.
Ukraine has committed to the IMF to gradually increase tariffs for gas, heating, and hot water. At the same time, it plans to provide targeted support to vulnerable households.
IMF published an updated memorandum with new deadlines for tax reforms in Ukraine. The abolition of VAT for the simplified system has been postponed until 2028.
The IMF Executive Board completed the first review of the EFF program for Ukraine, allowing the allocation of a new tranche of about $690 million. The Fund urged Ukraine to accelerate reforms, particularly anti-corruption and governance reforms.
New Prime Minister Serhiy Koretsky, in his first international conversation with the IMF, discussed a tranche of $690 million. The parties agreed to coordinate steps for financing Ukraine's 2027 budget.
The parliament supported the resignation of Prime Minister Yulia Svyrydenko along with the Cabinet of Ministers with 258 votes. The successor will temporarily be Denys Shmyhal.
Ihor Smelyansky considers the decision of NBU Governor Andriy Pyshny "settling personal scores" against him and called it "ill-considered".
In June, Ukraine expects about 13 billion dollars in aid, including under the ERA and USL programs. The NBU forecasts growth in reserves and coverage of the budget deficit.
Zelenskyy discussed the continuation of support for Ukraine with IMF Managing Director Georgieva. The parties agreed on cooperation and noted the success of the Fund's mission.
The government forecasts an exchange rate of 51. 5 hryvnia per dollar and wage growth through 2029. The budget declaration envisages an increase in public debt and the deficit.
Zelenskyy arrived at the G7 summit in Evian and met with Macron. He will hold talks with the leaders of Germany, Canada, Britain, and the head of the IMF.
Zelenskyy is in France today for the G7 summit to participate in a special session. Among others, meetings are planned with Macron, Merz, Carney, Georgieva, and Starmer.
Ukraine and the IMF are preparing a plan for energy market liberalization and the protection of vulnerable groups. Following this, tariffs for the population will begin to be gradually adjusted.
Due to the war, Ukraine's GDP growth rate in 2026 may slow down to 1. 0–1.6 percent. Following the review of the EFF program, Kyiv will receive $690 million from the IMF.
Ukraine and the IMF have reached a staff-level agreement on the first review of the EFF program. Following approval by the Executive Board, Kyiv will receive 690 million dollars.
Ukraine is expected to receive $700 million from the IMF without meeting a key condition. The Fund allowed the postponement of the tax on overseas parcels until July.
Summit participants will adopt separate declarations instead of a joint communique. The issue of the war in Ukraine will be outlined in a statement by the French presidency.
Social media sellers will be required to register as individual entrepreneurs (FOP) under the threat of heavy fines. Buying alcohol online will now require mandatory identification.
The Ukrainian Renewable Energy Association (UREA) has appealed to the NEURC and the Ministry of Energy of Ukraine regarding the revision of the electricity transmission tariff.
The Parliament passed bill No. 15111-d, which reduces the Personal Income Tax (PIT) rate for real estate landlords. Now, instead of 18%, property owners will pay 5%.
The Rada passed a law on railway safety to fulfill the requirements of the Ukraine Facility. The document implements European standards for certification and licensing.
The Rada has approved the taxation of income earned through online platforms at a rate of 10%. Services are expected to automatically report on users' earnings.
The Rada is set to vote today on the law regarding the taxation of electronic platforms. The updated text of the document was supported by business associations and IMF representatives.
The mission has completed its work, and the risks to receiving the $686 million tranche have been removed. The IMF has postponed the taxation of individual entrepreneurs (FOPs) and expects revenues from the de-shadowing of the economy.
As of June 1, reserves stand at $45. 7 billion due to foreign exchange interventions and debt repayments. This volume covers 4.7 months of future imports.
