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Economy

Friday, January 28

The registration of the subsidiary company of Nord Stream 2 AG in Germany is manipulative. Chairman of Naftogaz Yuriy Vitrenko called Nord Stream 2 AG’s registration of a subsidiary, Gas for Europe GmbH, in Germany a “manipulation” and a “desire to be above the law....

The European Commission plans to mobilize up to €6.5B in investments to support Ukraine’s economy. EU Enlargement and Neighborhood Commissioner Oliver Vargei said during the meeting with the President of Ukraine, “Today in Kyiv, together with President Zelensky, I reaffirmed the EU’s c...

Ukrposhta is buying 17,000 banking terminals. Ukrposhta has announced a tender to purchase 17,000 banking terminals, operating in the country’s most remote villages, where banking services have never existed before. According to the Prozorr...

Ukrainian Railways (UZ) will spend UAH 300M for consultations on the modernization of passenger traffic. According to Prozorro, UZ Passenger announced a tender on March 14 to purchase consulting services to facilitate the modernization of the vertical of passenger traffic. The starting purchase price is ...

Canada announces the strengthening of trade relations with Ukraine. The Canadian Ministry, led by Mary Ng, met with Ukrainian deputy minister Yulia Svyrydenko to discuss further strengthening of bilateral relations through trade. The ministers announced that Canada an...

Denmark will allocate €73M for investment projects in Ukraine. Denmark has agreed to consider additional support options to ensure Ukraine’s financial and economic stability, said Minister of Foreign Affairs of Ukraine Dmytro Kuleba after a meeting with Dan...

Ukrainian individual entrepreneurs (FOP) paid the highest taxes in 5 years. In 2021, individual entrepreneurs paid UAH 34.8B ($1.23B), the highest tax amount in the last 5 years, reported Opendatabot. For comparison: in 2020 FOPs paid UAH 27.6B, in 2019 – UAH 24.95B, i...

MHP Holding increased chicken production by 7%. The largest Ukrainian chicken producer, MHP Agro & Industrial Holding, has increased production in the fourth quarter, according to the company’s financial results. It is reported that 202.6 thous...

New Educational Cluster “Innovation Campus” opened In Kharkiv. The “Innovation Campus” has been officially opened at the Kharkiv Polytechnic Institute, reports TechUkraine. A modern educational cluster combines a high-level classical university education and prof...

Thursday, January 27

Yesterday, representatives of the “Normandy format” countries met in Paris. In the Elysee Palace, political advisers to the leaders of the “Quartet of Normandy” nations, Germany, France, Ukraine, and Russia, held talks. One of the primary purposes of these discuss...

Despite the Russian threat, businesses in Ukraine continue to work, said Andy Hunder. The biggest threat to companies is cyberattacks, said the American Chamber of Commerce president in Ukraine, Andy Hunder. “Companies are now focusing their preparations on cyberattacks, setting...

Ukraine increased steelmaking by 3.6 % over the prior year. According to the results from metallurgical enterprises in December 2021, Ukraine increased steel production by 3.6% compared to the same period in 2020, holding 14th place in the ranking of 64 major...

Ukreximbank extends a loan to build the An-32P firefighting aircraft. The state enterprise Antonov received funds from Ukreximbank to produce a specialized aircraft, An-32P, according to the Militarniy website. The agreement to build the firefighting aircraft and create...

In 2021, the Dnipro Metallurgical Plant increased production by more than 50%. In 2021, the Dnipro Metallurgical Plant (DMP) increased the production of rolled products by 56.9% compared to 2020, up to 221.2 thousand tons. Production of steel increased by 54.7% compared to 2020...

Ukraine freight traffic numbers for 2021 have mixed results. According to the state statistical service, 2021 freight traffic in Ukraine increased by 3.3% compared to 2020, to 619.9 million tons. Transport by rail increased 2.9% to 314.3 million tons, and tran...

Metinvest increased production by launching 54 new products. In 2021, the Metinvest Group’s metallurgical enterprises began producing 54 new products, including the result of a joint venture with Zaporizhstal, which has resulted in the release of seven ne...

Mariupol Port names the top 2021 export destination countries. The Mariupol Commercial Sea Port named the countries to which the largest amounts of cargo were exported in 2021, reported the Port. The largest shipments in 2021 were to the following countries: Ita...

Ukraine has reached an agreement with Montenegro for the export of semi-finished meat products. The respective authorities of Ukraine and Montenegro have agreed on the form of a certificate for the export from Ukraine of semi-finished meat products intended for human consumption, reported the U...

Ukraine reduced the share of its debt in 2021. At the end of December 2021, Ukraine’s public debt amounted to UAH 2.36T ($86.6B), about 45.2% of the country’s projected GDP, reported the Ministry of Finance. The total public and stat...

Ukraine and the World Bank have completed the Second Road Improvement Project for $450M. In the framework of the agreement with the International Bank for Reconstruction and Development (IBRD), Ukraine has implemented the “Second Road Improvement and Traffic Safety Project, as reported b...

The Lviv region will receive a $5B industrial project. This was announced following a meeting of Lviv regional state administration representatives with a delegation of investors from Qatar, Saudi Arabia, and China reported the Lviv administration. The de...

Wednesday, January 26

A group of US congressmen is coming to Ukraine. A bipartisan delegation of US members of Congress, led by the chairman of the International Committee of the House of Representatives Gregory Meeks, left for Ukraine on Tuesday, reported The Hill. Th...

A new batch of US technical assistance for the Ukraine Armed Forces has arrived. A further consignment of US technical assistance for the Armed Forces of Ukraine arrived at Boryspil International Airport on Tuesday, January 25, said Deputy Defense Minister of Ukraine Hanna Malyar...

A new international fund will allocate £35M for the restoration of the Donbas. According to Deputy Prime Minister Iryna Vereshchuk, is in discussions to create the international fund, “Partnership for a Strong Ukraine”. It is a joint initiative of the United Kingdom...

Ukraine and Hungary offer quarterly guaranteed capacities for gas imports. The GTS operator of Ukraine (OGTSU) is actively working to create alternative guaranteed capabilities for gas imports. OGTSU and Hungary’s GTS operator FGSZ have agreed to extend the guaranteed...

The NBU might raise the discount rate to 11% in March. The National Bank of Ukraine (NBU) plans to increase the discount rate by 100 basis points in March to 11% per annum from the current 10%, said First Deputy Chairman of the NBU Kateryna Rozhkova. Acc...

The Ministry of finance sold bonds for UAH 2.8B. At an auction on January 25, the Ministry of Finance sold domestic loan bonds worth UAH 2.846B: 3-month bonds for UAH 2.842B and 1.5-year bonds for only UAH 4M. The Ministry of Finance proposed the p...

The Poltava Council is applying for European Investment Bank financing. Poltava will submit four construction projects worth over UAH 270M ($9.5M) for European Investment Bank loans. Four projects applying for reconstruction from Poltava are Palace of Sports “Spart...

The duty-free delivery value limit for parcels increased to €150. The Ukrainian parliament agreed to increase the tax-free value of packages imported into the customs territory of Ukraine for individuals from €100 to €150. Thus, the norm, which was in force as of 20...

The Zakarpattia region will be connected with the Lviv region by a new road. A new highway connecting the Zakarpattia region with the Lviv region will be built soon, said Myroslav Biletsky, First Deputy Head of the Zakarpattia Regional State Administration. The road will be c...

The gambling tax bill will bring the sector out of the shadows. Bill №2713-d, with amendments to the Tax Code on Income Taxation in the Gambling Industry, will oversee this sector of the economy, said Head Tax and Customs Policy Danilo Hetmansev. Currently, the ta...

Ukraine’s earnings from tourism are rising despite the pandemic. According to the State Agency for Tourism Development, the country is experiencing a gradual increase in revenues from the tourist tax. Despite all the losses suffered by the Ukrainian tourism indust...

Tuesday, January 25

The European Commission will allocate €1.2B to Ukraine. The European Union will provide another €1.2B in financial assistance to Ukraine, announced European Commission President Ursula Von der Leyen. This package will help Ukraine meet its financing needs ...

Another 80 tons of weapons arrived in Ukraine. The second part of a US military aid package arrived in Ukraine. The package includes more than 80 tons of weapons from the US to strengthen Ukraine’s defensive capabilities. Ukraine’s Def...

Ukrainian Eurobonds and stocks collapsed again on Monday. Ukraine’s dollar-denominated Eurobond, which stabilized in the middle of last week after three days of sharp falls, fell again by 2.4-4.4% on Monday following negative news that predicts an inc...

The government expects to review the IMF program in February , stated at a briefing following a National Security and Defense Council meeting by Prime Minister Denis Shmygal, reported Ukrinform. “We are waiting for the next revision of the current program...

The National Bank of Ukraine bought $20M on the interbank market. For the first time since the beginning of the year, the National Bank bought $20M on the interbank market, while the regulator sold $321M during the week of January 17-21. The regulator made the enti...

Gold and foreign exchange reserves of Ukraine are at $30.1B. Ukraine’s gold and foreign exchange reserves are at one of the highest historic levels, which allows it to maintain stability in the foreign exchange market, where the exchange rate fluctuates ...

The 24th Ukraine-EU summit will be held in Kyiv. Volodymyr Zelensky had a telephone conversation with the President of the European Council. The two leaders discussed the date of the 24th Ukraine-EU summit, which will be set in the near future. Acco...

The cyberattack on Ukraine was planned and carried out by Russia’s special services, said Interior Minister Denis Monastyrsky. The cyberattack on the night of January 13-14 was one of the largest in several years. According to Ukraine cyber-police, the Security Service, and the State...

“Phantoms” will begin to monitor safety on the roads of Ukraine. According to the Minister of Internal Affairs Denis Monastyrsky, the new phantom police cars have a primarily preventive function. Their task is to prevent driving offenses and their potentially neg...

The Zhytomyr Northern Bypass construction will be resumed. Zhytomyr has announced a tender for the reconstruction of the Northern Bypass, which is part of the Kyiv-Chop highway, announced the Zhytomyr Road Service. The construction section runs between Hlybo...

The State Agency for Tourism Development of Ukraine will develop national parks. According to the deputy of the parliamentary faction “Servant of the People,” Yevhenia Kravchuk, several national parks are planned and will be implemented this year. The upgraded national parks will...

Monday, January 24

German Navy Chief resigns over Ukraine comments. The resignation of Navy Chief Admiral Kay-Achim Schönbach is not enough to restore full confidence in German politics, said Ukrainian Ambassador to Germany Andriy Melnyk. The chief of the German navy ...

Baltic states get approval from the US to send weapons to Ukraine. The defense ministers of Latvia, Lithuania, and Estonia have said in a joint statement that their countries have received approval from the US to transfer US-made weapons to Ukraine. Estonian Minister...

Canada will provide a $96M loan for Ukraine. To support Ukraine’s economy against the background of increasing Russian aggression, Canada will provide a loan of 120M CAD ($96M). Also, Canada is looking at other ways to support Kyiv as the ...

An affordable loan program for the mechanical engineering sector is underway. The President’s Office plans to launch a similar program, “Affordable Loans 5-7-9%” for the engineering sector, announced the Deputy Head of the Presidential Office, Rostislav Shurma...

Lviv will have a service center for the maintenance of civil aircraft. The Lviv State Aircraft Repair Plant, a part of Ukroboronprom, plans to set up a service center for civil aircraft maintenance, announced Ukroboronprom CEO Yuriy Gusev. “Although, Ukroboronprom had pr...

The NBU will establish a specialized financial court. The National Bank of Ukraine (NBU) believes that establishing a specialized financial court is the right way to provide an independent and effective judiciary in financial disputes, said the chairm...

Nibulon set an all-time record for agricultural product shipments. Nibulon said that the best results in the history of shipments of farm products in terms of month, quarter, half-year, and calendar year were achieved in 2021. It is noted that the highest numbers we...

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