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PrivatBank increased by 42% in two weeks, with small businesses resuming card payments more actively, reported epravda.com. Thus, with the beginning of the full-scale war of the Russian Federation against Ukraine, the number of active terminals fell by 66% at its lowest point, and the volume of transactions fell by 39% during the first two months of the war. However, during the last two weeks, from April 26 to May 10, the number of active POS terminals jumped by 42%, and the volume of transactions increased by 38%. Also, among the areas that significantly reduced the activity of terminals, specifically clothing and electronics, but over the past two weeks, they climbed by 64.8% and 44.2%, respectively.
Three-quarters of Ukrainian entrepreneurs continue to work. According to a survey conducted by the Gradus Research Company, 75% of businesses continue to operate, 23% of the respondents have lost their business but plan to resume operations - the majority of them (62%) after the war, a third (32%) are ready to start work at the first opportunity. Among entrepreneurs who have a business now, only 14% work in the same way as before the war. About 31% declare part-time activity, and 45% either hardly work or have suspended their activities in anticipation of better times. The number of owners and top managers who describe their business as “still working” and “partially working” has increased from 41% to 45%. About 79% of surveyed businesspeople had decreased income, where 26% of them recorded a decline of 50-74%, and a fifth of them reported a reduction of 75-89% of revenue.
The number of businesses closed in Ukraine decreased from 32% to 17%. As of the end of April, the number of enterprises that had entirely ceased operations fell to 17% from 32% at the beginning of the full-scale war, as stated in the monthly macroeconomic and monetary review of the National Bank of Ukraine (NBU). The number of enterprises that have completely ceased operations has almost halved since the beginning of hostilities, however, 60% of enterprises operate below their pre-war levels. At the same time, small and medium-sized businesses are recovering more slowly than larger ones. According to the NBU, most enterprises operating in agriculture, transport, and processing resumed operations at the end of April. The most challenging situation is observed in the construction and mining industry, where trade congestion remains well below the pre-war level.
4.5 Labour and income
4.5.1 Labour market, unemployment dynamics
UN: Prolonged conflict would push 9 out of 10 Ukrainians into poverty or near poverty. Buildings, roads, bridges, hospitals, and schools with an estimated value of $100 billion have been destroyed, according to the Ukrainian government. The war has caused half of the country’s businesses to shut down completely, while the other half are struggling, the United Nations Development Program (UNDP) said.
23 UKRAINE Country Report XXXX 2018 www.intellinews.com