Economy and politics

Ukraine’s industrial output fell 15.2% MoM and 28.6% YoY in November 2008, as stated in the State Statistics Committee memo released this morning.

Yesterday the coalition in the Ukrainian Parliament was restored after the pro-presidential Nasha Ukrayina-Narodna Samooborona (NU-NS) completed negotiations with the Bloc of Yulia Tymoshenko (BYuT), led by current Prime Minister Yulia Tymoshenko, and the Bloc of Lytvyn (BL), chaired by Volodymyr Lytvyn.

The National Bank of Ukraine (NBU) has reported that narrow money fell 0.3% MoM in November (21.8% growth YTD), thus reaching UAH 172.8 bln (USD 23.4 bln), while M3 grew 0.4% MoM (22% growth YTD), reaching UAH 483.2 bln (USD 65.3 bln).

National statistics indicate that CPI in Ukraine has increased 1.5% MoM, thus reaching 19.8% YTD and 25.5% YoY in January-November 2008.

The National Bank of Ukraine (NBU) has reported that the population increased its net purchases of currency in November by USD 1.4 bln, compared to October.

The National Bank of Ukraine (NBU) has reported that the foreign reserves increased 2.6% or by USD 819 mln in November 2008, therefore reaching USD 32 743 mln.

The Ministry of Finance of Ukraine has announced that Ukraine’s foreign debt dropped 1.4% MoM to USD 10.48 bln in October, while domestic debt grew 6.8% to UAH 17.67 bln (USD 3.07 bln at a 5.75 USDUAH exchange rate).

The National Bank of Ukraine (NBU) has announced preliminary figures witnessing that the CA deficit grew to USD 1.9 bln in October as compared to USD 0.9 bln in September. Overall, the CA deficit reached USD 10.5 bln (negative 6.5% of GDP) in January-October 2008.

Starting November 27, 2008, the National Bank of Ukraine (NBU) will establish the official USD/UAH exchange rate based on the previous day’s Interbank market rates. Prior to this decision, the NBU has been establishing the official USD/UAH exchange rate based on the Interbank foreign exchange market outcomes, NBU interventions and exchange rate changes on international markets.

According to the State Statistics Committee of Ukraine, foreign direct investments into the country’s agriculture, hunting and forestry expanded by 60.95% YTD to USD 897 mln in 10M08.