National Bank of Ukraine

The first consultations between business and the government on tax increases were held. No consensus was reached, and the parties agreed to continue the dialog next week in a Verkhovna Rada committee.

The National Bank of Ukraine has set the official hryvnia exchange rate at 41. 0063 UAH/USD, strengthening it by 2 kopecks. The euro exchange rate is set at 44.40 UAH/€, and the dollar is trading at 40.09-40.12 UAH on the interbank market.

Eduard Bagirov believes that Oleksandr Zyma undermines confidence in the banking system. The human rights activist calls on the head of the NBU to dismiss officials who violate the law in order to restore the trust of international partners.

The Deposit Guarantee Fund has completed the liquidation of Arkada Bank, which had its license revoked by the NBU in 2020. A record of the bank's termination as a legal entity was made in the Unified State Register.

According to the NBU, the number of counterfeits increased by 62% compared to last year. KFI experts spoke about the main features that can be used to distinguish genuine banknotes from counterfeits.

The victim in the case against the director of the NBU's legal department will have to go to court to demand investigative actions. SBI investigators are likely to ignore the initiatives of Yulia Sosedka, co-founder of Concord Bank.

The NBU has reported an increase in the cash turnover of banks in the first half of 2024. Cash withdrawals increased by 12.6% due to people's desire to have a reserve for payments during power outages.

The expert believes that the NBU may lift the ban on the conversion of foreign currency loans for business. This will improve relations between banks and customers and increase confidence in the banking sector.

The National Bank of Ukraine has set the official hryvnia exchange rate at 41. 0291 UAH/USD, strengthening it by 2 kopecks. The euro exchange rate is set at 44.41 UAH/euro, and the dollar is trading at 40.92-40.95 UAH on the interbank market.

Yulia Sosiedka was recognized as a victim in the criminal proceedings against the Director of the NBU Legal Department. The case concerns the recommendation to withdraw Concorde's claims against the NBU in the amount of UAH 63.5 million.

SBI investigators often refuse to recognize citizens as victims in criminal cases. The lawyer explains that this may be due to the fact that law enforcement officers feel impunity and do not want any extra hassle.

Finance Minister Serhiy Marchenko said that Ukraine's budget deficit has increased to UAH 500 billion ($12 billion). There is a particular lack of funds for the army, and this amount does not satisfy the military.

Banks cannot convert foreign currency loans into hryvnias on their own because of the NBU's ban. The expert believes that this issue can only be resolved by the National Bank of Ukraine.

The NBU has set the official hryvnia exchange rate at 41. 0478 UAH/USD, which strengthened it by 15 kopecks. On the interbank market, the dollar is traded at UAH 41.93-41.98, the euro at UAH 45.25-45.30.

In Q2, the amount of household and business deposits with banks increased significantly. The NBU expects further growth in deposits, lower funding costs, and a lower share of foreign currency deposits.

The expert believes that the NBU should ease the ban on the conversion of foreign currency loans for businesses as part of currency liberalization.

Shevchenkivskyi Court of Kyiv has recognized Yulia Sosedka as a victim in the case against Oleksandr Zyma, Director of the NBU Legal Department. The case concerns the NBU's recommendation to withdraw Concorde's claims for UAH 63.5 million.

New excise tax on fuel and tax increases. What will happen to prices at gas stations.

Ukrainian banks issued 976 mortgage loans worth UAH 1. 737 billion in May 2024. The majority of transactions were made on the secondary market, and the eHouse program remains the main driver of the mortgage segment.

Finance Minister Sergiy Marchenko announces a downgrade of Ukraine's GDP growth forecast from 4. 6% to 3.5% due to Russian attacks on the energy sector. The government plans to solve the problem by diversifying the energy grid and rebuilding infrastructure.

NBU Governor Andriy Pyshnyi has announced an expected increase in foreign exchange earnings in Ukraine. This is due to the sale of the new harvest and the expected $3.9 billion from the US next week.

Increasing taxes could negatively affect Ukraine's defense capabilities, as businesses annually donate about UAH 200 billion to the army. The expert suggests alternative ways to increase budget revenues.

Economist Oleksandr Parashchiy believes that the NBU should reconsider the ban on converting foreign currency loans into hryvnia for businesses. In his opinion, this could improve the business climate in Ukraine, and banks do not need additional protection.

The NBU has set the official hryvnia exchange rate at 41. 1977 UAH/USD, which strengthened it by 2 kopecks. On the interbank market, the dollar is traded at UAH 41.1-41.15, the euro at UAH 45.56-45.59.

The National Bank of Ukraine forecasts the next key policy rate cut in early 2025. The NBU will maintain an active presence in the foreign exchange market to control inflation and support the hryvnia exchange rate.

The international financial support will allow the government to finance the budget deficit and support the NBU reserves. The partners are expected to provide Ukraine with about USD 38 billion. USD in 2024 and USD 31 billion in 2025. USD 31 billion in 2025.

NBU Governor Andriy Pyshnyi announced that Ukraine's economic recovery is continuing despite the war and damage to the power grid. The GDP growth forecast for 2024 has been improved to 3.7%, and is expected to accelerate to 4-5% in 2025-2026.

The NBU Governor announced that inflation is expected to accelerate to 8. 5% by the end of the year. However, thanks to the NBU's measures and the easing of external pressure, inflation will start to decline in 2025 to 6.6%.

The National Bank of Ukraine has decided to keep its key policy rate unchanged at 13% effective July 25, 2024. This decision is aimed at ensuring the stability of the foreign exchange market and bringing inflation closer to the 5% target.

The NBU's resolution banning the conversion of foreign currency loans for business contradicts the principle of freedom of contract. Attorney Rostyslav Kravets believes that Ukraine's banking system needs to be rehabilitated and foreign capital restricted.