Key View

• The Covid-19 crisis has unexpectedly shifted Ukraine's current account into a large surplus.
• This was primarily driven by a stronger contraction of imports relative to exports which, over H120, fuelled the largest current account surplus on record.
• We at Fitch Solutions expect the current account surplus to narrow over the next six

Key View

• The 2020 medical devices market is being driven by demand for supplies to combat Covid-19, but growth will return to normal once the pandemic subsides.
• Government relief packages throughout the pandemic will not provide long-term support to the market.
• Long-term market growth will be supported by an appreciation of the Ukraine

Key View

• Ukraine’s Affordable Medicines Program has seen a rapid uptake of medicines to treat cardiovascular disease, type 2 diabetes and asthma, benefiting drugmakers.
• The WHO has suggested medicines across certain therapy areas as potential areas for the programme to be expanded to.
• The new government has signaled its intentions to

Key View

• We maintain a bleak outlook for the Ukrainian steel industry over the coming years, weighed down by the ongoing conflict in the Donbas that is disrupting vital supply chains for steel producers.
• Globally, lower steel prices and rising protectionism in the steel sector will pose further headwinds to the domestic industry's recovery.