Highlights for the week: New NBU strategy, US default and where to invest $100,000
US default: how real is such a threat and how will it affect Ukraine
Failing to raise the national debt ceiling, the US Congress may lead the country to the first sovereign default in modern history. A collapse of the stock markets, a spike in unemployment, a panic in the world economy — all of this is theoretically possible already after June 1. The Ministry of Finance will tell Ukrainians what is happening in practice and how to react to events overseas.
The European Council extended the “economic visa-free” period with Ukraine for an hour
The European Council today extended the “economic visa” with Ukraine for another hour. This means that Ukrainian business will not pay any duties, quotas and tariffs when exporting goods to the EU at least until June 2024.
The best tanks in the world and “classic” armored personnel carriers: what Rheinmetall wants to produce in Ukraine
One of the largest arms manufacturers in the world — the German concern Rheinmetall — plans to set up production in Ukraine and has already created a joint venture with Ukroboronprom for this purpose. At the first stage, it is only planned to repair the equipment, but further plans are grandiose. Among other things, Ukraine can annually produce up to 400 of the latest Panther KF51 tanks, which are not yet in service with any country in the world. Is it realistic to implement such a project, the Ministry of Finance was trying to figure out.
monobank postponed the launch of stereo in Poland for an indefinite period
monobank postponed its entry into the Polish market, where it planned to operate under the name stereo.
4 large banks increased the profitability of hryvnia deposits
As inflation decreases and deposit rates rise, the attractiveness of bank deposits will increase. Annual growth in consumer prices decreased from almost 27% at the beginning of the year to 17.9% in April.
The average salary in Ukraine has increased. How have the payments per hour changed?
The average salary for the first quarter of 2023 grew by 3.1% compared to March 2022. Now it is UAH 13,423.
Where to invest $100,000: 5 options for portfolios — from risky to conservative
Analyzing possible options for investments of up to $50,000, the Ministry of Finance spoke in detail about various instruments and described their pros and cons. This time we tell you what assets professional financial advisors pay attention to and how they propose to form a portfolio for savings of up to $100,000. for up to 10 years.
Banks will seize millions of Ukrainian accounts, most of them automatically
Banks began to announce the resumption of cash arrests on clients’ accounts, referring to new legislative rules.
Will deposit rates rise: What is expected in the NBU
The National Bank expects that banks will continue to raise rates on time deposits of the population, despite the regulator’s updated forecast, which foresees a reduction in the discount rate as early as the 4th quarter of 2023.
Banks have already received 44 billion hryvnias in net profit since the beginning of the year
Solvent banks in January-April 2023 received 44 billion hryvnias in net profit compared to 7.43 billion hryvnias in loss for the same period in 2022.
Is it worth buying cryptocurrency? Councils of the NBU
Cryptocurrency is a risky instrument for investing money, Ukrainians are advised to focus on other instruments for investing their savings: from deposits to government bonds. Ekaterina Rozhkova, first deputy head of the National Bank, stated this.
The National Bank presented a new strategy until 2025
The National Bank of Ukraine has developed a new institutional strategy that takes into account the factors of influence of Russia’s invasion on the conditions of functioning of the financial system and is focused on the protection of financial stability and the recovery of the country.
There are more debtors in Ukraine. The top reasons for which Ukrainians are included in the registry
Since the beginning of the Great War, the number of debts in the Unified Register of Debtors has increased by 615,000 or by 8%. For comparison, in 2021 the annual increase was almost 1.5 million debts or 29%.
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Crypto exchange Hotbit announced its closure
Crypto exchange Hotbit announced its closure, operations on the platform were stopped at 7:00 a.m. on May 22. In its message, the exchange team asks all users to withdraw their assets by 07:00 on June 21.
Source: Ministry of Finance