{"id":30215,"date":"2024-10-15T16:06:09","date_gmt":"2024-10-15T13:06:09","guid":{"rendered":"https:\/\/ces.org.ua\/?p=30215"},"modified":"2026-04-20T16:38:28","modified_gmt":"2026-04-20T13:38:28","slug":"economic-review-in-september-2024","status":"publish","type":"post","link":"https:\/\/ces.org.ua\/en\/economic-review-in-september-2024\/","title":{"rendered":"Economic review in September 2024. What is hindering the growth of Ukraine\u2019s metallurgy sector?"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"Economic review in September. What is hindering the growth of Ukraine\u2019s metallurgy sector?\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/Om2T1YFPlYY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<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. \u00a0All 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><strong>Executive summary:<\/strong><\/p>\n<ul>\n<li><strong>Macroeconomic trends:<\/strong> Ukraine\u2019s GDP increased by 3.7% in Q2 2024. Business expectations generally softened in September. Sentiment improved in trade and industry but deteriorated in construction and services.<\/li>\n<li><strong>Monetary, FX, and Banking sector:<\/strong> Inflation accelerated to 8.6%, and key rate policy remained the same \u2013 13%. International reserves declined and hryvnia stayed relatively stable. Household deposits and all loans in hryvnia resumed growth.<\/li>\n<li><strong>Fiscal sector:<\/strong> Tax revenues of the state budget in September were UAH 117.9 bn, adding 26% y-o-y. In September, foreign funding expectedly dropped to almost zero for the second time since the start of the full-scale invasion. Ukraine received only $11 million in loans from the Council of Europe Development Bank.<\/li>\n<li><strong>Sectoral analysis:<\/strong> Ukraine restores energy balance and prepares for the heating season. Electricity imports resumed in September and soon began to be larger than imports. Agricultural exports faced seasonal decline: grain and oilseeds exports decreased by 15% m-o-m to 3.9 mt. IT exports hit wartime low in August.<\/li>\n<li><strong>Special topic:<\/strong> In September, Ukraine cut production of all major types of ferrous products. Steel production in Ukraine shrank 12% in September and reached 7m minimum. Global steel production reached \u000b1.89 bn t in 2023, including 1.02 bn t in China. Other largest producers include India (141 mt), Japan (87 mt), United States (81 mt) and Russia (76 mt). Ukraine was ranked 24th with 6.2 mt.<\/li>\n<\/ul>\n<p><strong>Participants:<\/strong><\/p>\n<ul>\n<li><strong>Stanislav Zinchenko<\/strong>, CEO of GMK Center;<\/li>\n<li><strong>Oleg Krykavsky<\/strong>, Director of Government Relations, ArcelorMittal Kryvyi Rih;<\/li>\n<li><strong>Oleksandr Kalenkov<\/strong>, President of Ukrmetallurgprom;<\/li>\n<li><strong>Natalia Sydoruk<\/strong>, GR Director of INTERPIPE;<\/li>\n<li><strong>Yi\u011fit Tahmiso\u011flu<\/strong>, analyst in the Energy and Climate Policy team at Berlin Economics.<\/li>\n<\/ul>\n<p>Moderator:\u00a0<strong>Maria Repko<\/strong>, Deputy Director of CES.<\/p>\n<p>Media partner \u2014 GMK Center.<\/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. \u00a0All notes can be found\u00a0under the link. Executive summary: Macroeconomic trends: Ukraine\u2019s GDP increased by 3.7% in Q2 2024. Business expectations generally softened in September. Sentiment improved [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":30103,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[492,143],"tags":[591,610,696],"experts":[464,513,462,478],"news_type":[140],"class_list":["post-30215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-during-the-war-en","category-home-news-en","tag-industry-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\/30215","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=30215"}],"version-history":[{"count":2,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/posts\/30215\/revisions"}],"predecessor-version":[{"id":31735,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/posts\/30215\/revisions\/31735"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/media\/30103"}],"wp:attachment":[{"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/media?parent=30215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/categories?post=30215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/tags?post=30215"},{"taxonomy":"experts","embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/experts?post=30215"},{"taxonomy":"news_type","embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/news_type?post=30215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}