Economy and politics

According to a note from the National Bank of Ukraine, foreign reserves dropped 4.2% (USD 1.066 bln) MoM in March, thus reaching USD 24.392 bln. The YTD decrease, therefore, has reached 22.4% (USD 7.070 bln). The balance of Interbank interventions in March reached USD 1.077 bln.

According to a note from Ukraine’s State Treasury, the budget profits in 1Q09 were UAH 43.8 bln (USD 5.7 bln), or 101.3% of the planned figure. At the same time, budget profits in March were UAH 17.4 bln (USD 2.3 bln) or 102.2% of the planned profits.

According from data from the State Statistics Committee, as of March 1, wage arrears had reached UAH 1.64 bln (USD 213 mln), a UAH 0.11 bln (USD 14.2 mln) increase, compared to February 2009.

The State Statistics Committee has released disappointing data on salaries in Ukraine in February 2009.

According to a note from the National Bank of Ukraine (NBU), a current account deficit of USD 78 bln was observed in February, thus resulting in a CA surplus for the second month in a row.

Monday was rich with mixed macroeconomic statistics on Ukraine. The Ministry of Economy released data on February’s production of goods and services index and budget deficit.

The Ukrainian Government has voided a bill that was earlier accepted by Parliament on the 13% tariff imposed on all non-critical imports.

All industries in Ukraine saw a dramatic decline in real output in January-February 2009 compared to the respective period of 2008.

According to a memo from the Ukrainian State Statistics Committee, consumer prices grew 1.5% MoM (4.4% YTD and 20.9% YoY), compared to a 2.9% MoM growth in January 2009 and 2.7% MoM growth in February 2008.

According to a note from the National Bank of Ukraine, foreign reserves fell 8.2% MoM (USD 2.36 bln) in February 2009, thus reaching USD 26.46 bln.