At the beginning of February, a new Macroeconomic and Monetary Review was published, which examined the economic results of October-November. During this period, a prolonged slowdown in inflation was observed, affecting both general and core inflation. However, the difficult situation in the energy sector and the rise in energy deficits continued to put pressure on businesses, complicating the economic situation. Despite this, significant defense orders supported activity in certain sectors of the industry and machine engineering.
The review data also indicates that the labor shortage remained, although there was a certain growth in real wages. The trade deficit in goods somewhat decreased due to an increase in exports, and significant volumes of international assistance allowed supporting record foreign exchange reserves at the end of the month.
Strict monetary conditions played a very important role in stabilizing the situation in the foreign exchange market, contributing to the demand for hryvnia instruments. It is also worth noting that the demand for foreign currency was at a relatively stable level.
Overall, the review highlights the influence of various factors on the economic situation in Ukraine and provides all interested parties with important information for further monitoring and analysis.