Page 16 - UKRRptNov21

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4.4 Corp profit
Business confidence has returned to pre-pandemic level, according to the latest quarterly business sentiment survey by the National Bank of Ukraine. Polled companies report diminishing spare capacities and increasingly say they plan to expand their workforce. Oleskiy Blinov, head of research of Alfa-Bank Ukraine, writes, noting that companies were polled in August: “Obviously, this poll had not captured business reaction to energy price spikes and COVID resurgence, which happened later. Thus, the next one in January should be a more revealing one.”
Ukrainian SMEs have ₴58 bln ($2.2 bln) in their accounts. Bank deposits held by Ukrainian SMEs grew by 9% year-on-year to ₴58 bln at the beginning of September, reported Opendatabot.com. This amount is the highest in the last past nine years. In 2012, sole proprietors held ₴4 bln ($151 mln) in bank deposits.
Ukrainian business activity expectations have declined due to quarantine restrictions. The business activity expectations index (IODA) in October 2021 was 51.4 (in September - 53.1), reported the NBU. A month of hard lockdown will cost the economy 0.3% of GDP. This assessment is contained in the Inflation Report of the NBU for October.
The Index of business expectations is growing, reported bank.gov.ua.
The index of business expectations of enterprises grew to 114.3% in
16 UKRAINE Country Report November 2021 www.intellinews.com