New currency law adopted. Verkhovna Rada passed a new law on currency regulation at the third attempt in its second reading. 228 deputies voted for its adoption, 2 more than required. The law, which will permit accelerating currency liberalization, indicates a conceptually new approach to the system of currency regulation and supervision - "everything that is not directly prohibited is permitted," Interfax-Ukraine reports. Until now, a decree of the Cabinet of Ministers on the system of currency regulation and currency control dated 1993 has been the main normative and legal act regulating the currency market. The Governor of the National Bank (NBU) Yakiv Smolii told parliament the NBU will gradually remove currency restrictions.

Revenue up 380% at Ukrzaliznytsia. During January to May 2018 Ukrzaliznytsia received a net income of UAH 382.4 million, 3.8 times more than the previous year, the company’s press service reports. The value of sales reached UAH 33.5 billion. Revenues from transportation increased by UAH 4.1 billion (15%, y-o-y) and totaled UAH 31.6 billion, which was UAH 176,8 million above expectation. Expenditures on transportation in January-May amounted to UAH 31,3 billion, of this UAH 22.6 billion was from cargo and UAH 8.7 billion from passengers. In 2016 Ukrzaliznytsia lost more than UAH 7 billion. But by the end of 2017, the losses of the company had decreased to UAH 77.24 million.

French to invest EUR 1 billion in Chornobyl solar power station. The French company Engie is ready to invest EUR 1 billion euros in a solar power station in the Chornobyl zone, Minister of Ecology and Natural Resources Semerak announced on 112 Ukraine. The value of the project is equal to the size of one unit at the former Chernobyl nuclear power plant of 1.2 GWh. “The total project cost is estimated at EUR 1 billion and representatives of Engie at the last meeting of the investors Council under the President declared their willingness to invest,” he said.

NBU expects accelerated economic growth in Q2 2018. The NBU expects a moderate acceleration in the growth of the Ukrainian economy and stable growth in investment activity in the second quarter of 2018. Further increase in consumer demand will be facilitated by increased income of the population (including through military pensions, wages and remittances). NBU’s press service says. In Q1 2018, the economy accelerated growth to 3.1% on an annual basis. Compared to the previous quarter, GDP growth was 0.9% seasonally adjusted. Actual growth rates of real GDP in Q1 2018 were higher than the NBU’s expectation of 2.3% in the Inflation Report for April 2018.

International reserves sufficient for debt repayment. Governor of the National Bank (NBU), Yakiv Smolii, says the country's international reserves are sufficient to cover a period of peak payments on state debt until the end of 2020, even without external financing. However, further prospects for the country's economic growth will directly depend on progress in implementing structural reforms, he said at a coordination meeting with heads of the country's major banks, UNIAN reports.

Ukraine's boosts supplies of liquefied gas from Kazakhstan. Exports of Kazakhstan’s liquefied gas to Ukraine increased by 11.5 times and amounted to almost 87,700 tonnes in January-May 2018, UPECO consulting company announced. The main exporter of Kazakhstan’s LPG to Ukraine is Tengizchevroil. The company exports propane and butane fractions directly in accordance with long-term and spot contracts.

Ukrainian foods popular in Japan. Based on the results of the market research…the Ukrainian food products that are most popular with Japanese consumers include: confectionery, snacks and superfoods, tomato paste and other types of pastes from vegetables and berries, jams, canned vegetables and fruits, beer, wine, organic products, honey, nuts," the press service of the Agrarian Policy and Food Ministry of Ukraine reports. In 2017, bilateral trade in agrarian and food products between the countries totaled USD 89.2 million.
Ukrainian-Lithuanian cooperation growing. Ukraine and Lithuania have agreed common positions on regional security and economic cooperation both at bilateral level and in the international arena, according to a joint statement by Prime Minister Groysman and Lithuanian Foreign Linas Linkevičius following their meeting. Of particular mention was the Lithuanian initiative "The new European plan for Ukraine," elements of which should be taken into account when introducing new financial support instruments for Ukraine by the European Commission, the governmental portal reports. In 2017, the volume of trade amounted to over USD 1 billion dollars, an increase of 38.6 % compared with 2016. According to preliminary data, Ukrainian exports to Lithuania grew 25.4% during the January-May 2018 period, bilateral trade increased to USD 416 million.

Ukraine, Turkey free trade area 90% ready. The two countries have already considered more than 21,500 positions on a free trade agreement, First Vice Prime Minister - Minister of Economic Development and Trade Stepan Kubiv has told the Verkhovna Rada Committee on Economic Policy Issues, Ukrinform reports. On 21,000 components agreement has been reached. About 1,500 remain to be coordinated, especially related to expanding agrarian production, tariff quotas, export duties, and export subsidies," Kubiv said.

Consumer price rises 4.4% but show an uneven curve. In January-May 2018 the price of bread rose by 18.4%, y-o-y, according to the State Statistics Service. The price of pasta increased by 9.8%. Inflation in Ukraine in May 2018 in annual terms compared to May 2017 – amounted to 11.7%. Consumer prices in Ukraine in May 2018 compared to December 2017 rose by 4.4%. Eggs, buckwheat, potatoes and onions saw a reduction in price in May, and in the first two weeks of June meat prices had fallen, Ukrop News 24 reports.