Ukraine's international reserves decreased by 0.5% month-on-month to $20.5bn in April following a 2.1% m/m growth in March, the National Bank of Ukraine (NBU).
The result was attributed to servicing and repaying FX public and publicly guaranteed debt in in the amount of $881.7mn, including $710.3mn for servicing and repaying FX government domestic loan bonds and $78mn for servicing Eurobonds.
At the same time, Kyiv obtained revenues from the placement of FX government domestic loan bonds for $416.6mn and €2.6mn in April. In addition, the NBU's net purchase of currency in the interbank foreign exchange market ensured replenishment of reserves by $299.9mn.
The country's international reserves were also positively influenced by the increase in the value of financial instruments in the amount of $54mn.
As of early May, international reserves covered 3.4 months of Ukraine’s imports and "were sufficient for Ukraine to meet its obligations and for the government and the NBU to conduct their current transactions", the regulator added.
In 2016 trust in Putin was 71%, but it has tumbled since then on the back of conflicts with the west and stagnating income levels to just to 31.7% in May, according to state owned pollster VTsIOM.
The adjusted annual growth in April owes to production expanding 14% y/y in the most-weighted manufacturing segment, compared to a growth of 7% y/y the preceding month.
The pick-up owes to the calendar effect, with sales spiking because of Easter but also to Polish households’ general inclination towards increased consumption, driven by the good situation on the labour market – low unemployment and growing wages.
Russia's industrial output growth in April 2019 jumped to 4.9% year-on-year after 1.2% growth in March, according to the latest data by Rosstat statistics agency. Russia on track to finish the year with 2.3% industrial production growth
The headline figure attests to the Polish industrial sector’s stubbornness to give in to negative trends in the external environment, especially the slowdown of activity in Germany, Poland's largest trading partner.