Economy and politics

The State Statistics Committee of Ukraine announced MoM deflation of 0.1% in August 2008, after 0.5% deflation in July 2008.

Ukraine’s Cabinet of Ministers announced that it is transferring UAH 50 mln (USD 10.3 mln) to the Ukrainian Oschadbank, a successor of the Soviet Sberbank, to reimburse the lost bank deposits to those persons who held deposits in the former Sberbank.

The National Bank of Ukraine (NBU) announced that Ukraine’s monetary base increased in August 2008 3.2% MoM (19.1% YTD), thus reaching UAH 169 bln (USD 34.8 bln), while M3 grew 1.6% MoM (19.8% YTD) and reached UAH 474.7 bln (USD 97.9 bln).

Ukraine’s Parliament has finished vacations and commenced its new session on Tuesday, September 2.

The State Statistics Committee of Ukraine announced that the volumes of FDI in January-June 2008 grew 23.4% YTD by USD 6.9 bln, reaching a total of USD 36.5 bln.

The State Statistics Committee of Ukraine announced that real GDP in January-July 2008 grew 6.5% YoY, reaching UAH 530.3 bln (USD 109.3 bln). At the same time, real GDP in July 2008 grew 7.3% YoY and reached UAH 100.2 bln (USD 20.7 bln). The earlier-released figures for January-June 2008 announced 6.3% YoY and, in June 2008, 5.4% YoY.

On Thursday, August 14, the National Bank of Ukraine (NBU) made an Interbank intervention and bought excess USD at the 4.77 UAH/USD rate, UAH 0.074 lower than the official NBU 4.844 UAH/USD rate.

Ukraine’s State Treasury announced that profits of the State Budget’s general fund exceeded planned figures by 9.2% (UAH 8.3 bln, USD 1.7 bln) in 1M-7M08. A month ago, a surplus in profits was announced for 1H08.

The State Statistics Committee of Ukraine announced that unemployment in July fell to 1.8% compared to 1.9% in July, 2% in May and 2.2% in April 2008. Hence the overall number of registered unemployed was 0.519 mln on August 1, 2008. The overall number of unemployed receiving welfare payments was 387.2 thsd. The average monthly payment was UAH 443 (USD 91.3).

The State Statistics Committee of Ukraine released figures on real industrial output growth in July 2008. Real output in July 2008 grew 1.9% MoM (vs. 2.5% decline in June 2008) and grew 5.1% YoY (vs. 5.2% in June 2008).