Page 29 - UKRRptDec18

4.3 Fixed investment
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Investments in fixed capital,
chg yoy 1.6% -50.5% 3.9% 7.1% 0.9% -6.7% -23.0% -9.3% 6.0% 12.0%
Industrial output, chg yoy -5.2% -21.9% 11.2% 8.0% -0.7% -4.3% -10.1% -13.0% 2.1% -0.1%
Capital investment was up by 20% through September y/y , matching the 21% growth recorded for the same period last year. These are real growth increases, adjusted for inflation, according to the State Statistics Service. Capex highlights for January-September 2018: industrial investment up 25%; transportation – largely rail – up 43%; and extraction – oil, gas and iron mining – up 51%. Of investment, 73% was self-financed by companies, with bank loans accounting for only 7%. Dragon Capital writes: “Imposition of a 30-day martial law in selected regions following an escalation of tensions with Russia in the Sea of Azov, may hit business confidence and cause investment activity to slow.”
29 UKRAINE Country Report December 2018 www.intellinews.com