{"id":28706,"date":"2024-06-14T15:56:36","date_gmt":"2024-06-14T12:56:36","guid":{"rendered":"https:\/\/ces.org.ua\/?p=28706"},"modified":"2026-04-20T16:41:18","modified_gmt":"2026-04-20T13:41:18","slug":"economic-review-in-may","status":"publish","type":"post","link":"https:\/\/ces.org.ua\/en\/economic-review-in-may\/","title":{"rendered":"Economic review in May 2024. Summary of the Ukraine Recovery Conference"},"content":{"rendered":"<p style=\"text-align: justify;\">Since March 2022, the Centre for Economic Strategy (CES), together with the German Economic Team (GET), has been preparing monthly reviews of Ukraine\u2019s economy during a full-scale war. All notes can be found\u00a0<a href=\"https:\/\/ces.org.ua\/en\/category\/research-list-en\/economy-during-the-war-en\/\"><span class=\"s1\">under the link.<\/span><\/a><\/p>\n<p style=\"text-align: justify;\">Executive summary:<\/p>\n<ul style=\"text-align: justify;\">\n<li><b>Macroeconomic trends: <\/b>In 2024, Ukraine GDP will increase by 3.0% y-o-y according to a forecast published by the NBU; forecasts by other organizations are a bit more positive. Business expectations fell in May as businesses are feeling the effects of the energy crisis and are uncertain about mobilization.<\/li>\n<li><b>Sectoral analysis: <\/b>Russia&#8217;s missile attacks have caused a huge electricity shortage with rolling blackouts reintroduced. Steel production reaches 40% of pre-war volumes and grain exports are down 12% in May after setting wartime records in April.<\/li>\n<li><b>Monetary, FX, and Banking sector: <\/b>Inflation remains stable \u2013 3.3%, and key rate policy was decreased once again to 13%. Hryvnia continues to devaluate, setting a record \u2013 40.5 $\/UAH; the international reserves decreased but remain quite high.<\/li>\n<li><b>Fiscal sector: <\/b>Foreign budget aid dropped to $20 million in May, the lowest amount since the beginning of the full-scale invasion. State budget expenses in April decreased by 9.7% to UAH 314.3 bn. Tax revenues of the state budget in April reached UAH 151.8 bn (+38% YoY, +29% MoM)<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">The recording of discussion:<\/p>\n<p><iframe loading=\"lazy\" title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/iOvZwMZKaD0?si=CjcuCc9fltJ4-6_p\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>Invited speakers:<\/p>\n<ul>\n<li><strong>Volodymyr Kuzio<\/strong>, Deputy Minister of Economy of Ukraine.<\/li>\n<li><strong>Maria Repko<\/strong>, Deputy Director of the CES.<\/li>\n<li><strong>Oleksii Sobolev<\/strong>, Deputy Minister of Economy of Ukraine for digital development, digital transformatioms and digitalization.<\/li>\n<li><strong>\u00a0Robert Kirchner,\u00a0<\/strong>Deputy Head of the German Economic Team,\u00a0 Authorized Representative of the Berlin Economics.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">You can also access the visualization of monthly highlights through our regularly updated\u00a0<a href=\"https:\/\/ces.org.ua\/en\/tracker-economy-during-the-war\/\"><span class=\"s1\">Ukraine War Economy Tracker<\/span><\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Since March 2022, the Centre for Economic Strategy (CES), together with the German Economic Team (GET), has been preparing monthly reviews of Ukraine\u2019s economy during a full-scale war. All notes can be found\u00a0under the link. Executive summary: Macroeconomic trends: In 2024, Ukraine GDP will increase by 3.0% y-o-y according to a forecast published by the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":28696,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[492,197,143],"tags":[599,610,696],"experts":[464,513,462,478],"news_type":[140],"class_list":["post-28706","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-during-the-war-en","category-research-list-en","category-home-news-en","tag-international-support-en","tag-war-economy-en","tag-monthly-economic-reviews","experts-yurii-gaidai-en","experts-volodymyr-landa","experts-maksym-samoiliuk-en","experts-mariia-tomilina","news_type-researches"],"acf":[],"_links":{"self":[{"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/posts\/28706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/comments?post=28706"}],"version-history":[{"count":1,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/posts\/28706\/revisions"}],"predecessor-version":[{"id":31739,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/posts\/28706\/revisions\/31739"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/media\/28696"}],"wp:attachment":[{"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/media?parent=28706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/categories?post=28706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/tags?post=28706"},{"taxonomy":"experts","embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/experts?post=28706"},{"taxonomy":"news_type","embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/news_type?post=28706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}