Half of the economy, and ₴500B in taxes, are in the shadows, said the head of the Parliamentary Finance Committee, Danylo Hetmantsev. However, he specified that after measures taken by the state, this amount will decrease to ₴420-430B ($10B). At the same time, ... #DanyloHetmantsev #EuropeanIntegration #ShadowEconomy #TaxesUkraine #UkraineEconomy
Ukraine has doubled its national debt, and here is what will happen next. During the 2.5 years of the full-scale war, Ukraine’s public debt has increased by 130% in hryvnia equivalent (+₴3.644B), and in foreign currency by 66% (+$62B). “Despite everything, the d... #DanyloHetmantsev #DebtRestructuring #UkraineBudget2024 #ukrainedebt
The parliament comments on the lowering of Ukraine’s credit rating to RD. Early this week, the Fitch rating agency downgraded Ukraine’s long-term credit rating from level C to RD. The $750M 2026 Eurobonds, on which Ukraine failed to make the August 1 coupon payment, w... #CreditRatingUkraine #DanyloHetmantsev #DebtRestructuring #Eurobond #ukrainedebt #ukravtodor
The parliament proposes a solution for NPLs: creating a “bad assets bank” using a nationalized state bank. The creation of a bad asset bank will allow the settlement of current and future problem debts accumulated during the full-scale war, said the head of the Parliamentary Committee on Finances, Danylo H... #BadBank #DanyloHetmantsev #NonPerformingLoans #NPL #Problemloans
Earnings from Ukrainian enterprises reached a 10-year record of $19.8B. The cumulative financial result of Ukrainian enterprises for 2023 amounted to more than ₴863.8B (about $19.8B). This is the best indicator in the last 10 years, said Danylo Hetmantsev, Head of the par... #businessinukraine #DanyloHetmantsev #UkraineCompaniesProfit #UkrainianEnterprises
The parliament explains how Ukraine could cover its budget deficit. Due to military expenses, a deficit has formed in the state’s budget. Ukraine spent 43% of the planned annual defense budget in just four months. According to the Chairman of the Parliament’s Fi... #BudgetDeficit #DanyloHetmantsev #UkraineBond #UkraineBudget2024 #WarExpensesUkraine
The Ukrainian parliament says that the government is preparing to raise taxes. Chairman of the Verkhovna Rada Committee on Finance Danylo Hetmantsev said that the Cabinet of Ministers is preparing proposals to raise certain taxes. This is because the Ministry of Defense needs an... #DanyloHetmantsev #TaxesUkraine #UkraineBudget2024 #UkraineBudgetDeficit #WarExpensesUkraine
Ukraine needs money for its army, and these are the reasons. The state budget lacks funds to fully finance the Defense Forces of Ukraine due to assumptions about improvement in the security situation, increased spending on the Ministry of Internal Affairs, and ... #DanyloHetmantsev #UkraineBudget2024 #UkraineDefensePurchases #UkraineEconomy #WarinUkraine
Fears about Ukraine’s default were allayed in the Ukrainian parliament. The WSJ reported the other day that some owners of Ukrainian Eurobonds want Ukraine to resume servicing its obligations starting next year, with up to $0.5B in interest payments annually. If the parti... #DanyloHetmantsev #DebtRestructuring #DefaultUkraine #Eurobond #UkraineBond #UkraineDebtRepayment
Ukraine increased its export of metal and iron ore raw materials. Head of the Committee on Finance Danylo Hetmantsev pointed out that, in the results from the first quarter of 2024, mining and metallurgical complex products account for almost 20% of all commodity ex... #agroexportukraine #DanyloHetmantsev #grainexport #IronOreExport #UkraineExport #UkrainianMetalExport
Ukrainians have begun to borrow money more actively and increase their deposits, but experts predict a rate decrease. The head of the Finance Committee, Danylo Hetmantsev, commenting on NBU data, notes that lending increased slightly in March but generally stagnated. The balance of hryvnia loans granted to businesses... #BankDepositsinUkraine #CreditPortfolio #DanyloHetmantsev #financeUkraine #KeyPolicyRate #nbu #UkrainianBanks
Unpopular decisions must be made: How does Ukraine plan to get along without US aid? If Ukraine does not receive $11.2B in budget support from the US (as part of a $60B aid package), the consequence will be difficult, unpopular decisions by the Ukrainian government, noted the head of ... #BudgetDeficit #DanyloHetmantsev #financialaidforUkraine #hryvniadevaluation #UkraineBudget2024 #USaidforUkraine
More than 85% of Ukrainian industrial parks are not operating; the parliament demands the reason why. Of more than 70 officially registered industrial parks, only about 10 are working, said Danylo Hetmantsev, head of the Tax Committee. “Nowadays, it is important not so much to create more new in... #DanyloHetmantsev #IndustrialPark #IndustrialParkUkraine #UkraineDevelopment #UkraineEconomy
One Ukrainian state bank will be reorganized into a bank for reconstruction. To accumulate and distribute resources for reconstruction, Ukraine needs to create a specialized state development bank (created by reformatting one of the five state banks), which will be removed fro... #DanyloHetmantsev #UkraineReconstruction #UkraineRecovery #Ukreximbank #ukrgazbank
What should Ukraine expect from its international partners in 2024? In the first quarter of the year, Ukraine plans to receive almost $10.2B from partners, notes the Chairman of the Committee on Finance, Danylo Hetmantsev. In particular: $4.88B from the EU (Ukraine Fa... #DanyloHetmantsev #EFFprogram #financialaidforUkraine #SupportUkraine #UkraineFacility
Over the year, Ukraine’s gross foreign debt increased by almost 25%. How does this threaten the financial system? Ukraine’s gross foreign debt at the end of 2023 amounted to $161.5B. That is, it increased by almost 25% (+$30.6B). This debt includes the external debt from the government, the central bank, commerci... #DanyloHetmantsev #GDPinUkraine #nbu #UkraineBudget2024 #ukrainedebt #UkraineEconomy
Ukraine is unable to pay its bond owners $4.5B, so it is starting debt restructuring negotiations. Beginning in August, Ukraine must pay Eurobond holders $4.5B to service its debt. In 2024, Ukraine is scheduled to pay $910M that will be applied to the principle and $3.61B in interest. However, this... #DanyloHetmantsev #DebtRestructuring #financeUkraine #ukrainebonds #UkraineBudget #Єврооблігації
Ukrainians have begun withdrawing money from banks, and the volume of deposits decreased for the first time in a year and a half. Consumer deposits in Ukrainian banks decreased by 2.1% to ₴2.35T in January of this year. A decline was recorded for the first time since August 2022. According to the NBU, household deposits decrease... #DanyloHetmantsev #financeUkraine #HryvniaDeposits #nbu #UkraineDeposits
The lack of EU and US financial aid puts Ukraine’s economy at risk. Without €50B in aid from the EU and additional funding from the US, Ukraine will not be able to keep fighting against Russia or sustain its damaged economy for long. “This is critical for us bec... #DanyloHetmantsev #financialaidforUkraine #MariaRepko #UkraineEconomy #UkraineFacility
Ukraine’s national debt grew 30.4% last year to a new historical high. As of December 31, 2023, the state’s and state-guaranteed debt amounted to ₴5.519T, or $145.32B, reported the Ministry of Finance. The ratio of national debt to GDP was 85%. State and state-guaranteed... #DanyloHetmantsev #financialaidforUkraine #GDPinUkraine #UkraineBudget2024 #ukrainedebt #UkraineEconomy
The Russian Federation’s monopoly in gas export has rolled back 40 years. The export of Russian natural gas is decreasing, and the total volume of supplies to foreign markets in 2023 amounted to 69 billion cubic meters. “If Russia could adapt to Western sanctions with oil e... #DanyloHetmantsev #Gazprom #RussiaGasExport #RussianGas #SanctionsAgainstRussia
A logistics center is for sale in the Khmelnytskyi region for ₴94M; this year, Ukraine plans to receive more than ₴4B from privatization. On January 19, the state plans to sell a complete property complex with an area of 4,329 square meters at an online auction. The logistics center is in the Khmelnytskyi region on a plot of land with a... #DanyloHetmantsev #Khmelnitsky #LogisticCenter #PrivatizationUkraine
Preferential loans for businesses will cost the state ₴5B this year. The state’s debt to banks for interest compensation under the 5-7-9% Affordable Loans program will reach ₴5B by the end of the year, the head of the parliament’s finance committee, Danylo ... #5-7-9loanprogram #AffordableLoansUkraine #DanyloHetmantsev #financeUkraine #LoansUkraine
Ukrainian banks’ net profit has soared by almost 600%; financial institutions have earned more than ₴130B. According to the results from 11 months of the year, banks’ net profit (after tax) amounted to ₴130.55B. In November alone, this number was ₴7.85B, reported the head of the Committee on Financial Issu... #DanyloHetmantsev #TaxesinUkraine #UkraineBanksProfits #UkrainianBanks
The IMF is concerned about Ukraine’s delayed financial assistance. The head of the IMF, Kristalina Georgieva, believes the West should provide financial aid to Ukraine as soon as possible. In her opinion, Ukraine can cope with the likely short-term financing deficit ... #DanyloHetmantsev #financialaidforUkraine #imf #KristalinaGeorgieva #UkraineBudget2024 #UkraineBudgetDeficit
Ukraine has lost almost ₴10B through the Polish border blockade; The EC seeks to preserve transport visa-free. Ukraine’s losses are associated with a 40% export drop due to blocked checkpoints. The state budget of Ukraine lost ₴9.3B due to the loss of these customs payments, said the head of the specialized pa... #AdinaValean #BorderBlockade #DanyloHetmantsev #transportvisafree #UkraineEconomy
The receipt of international aid lags behind the needs of the Ukrainian budget. The head of a specialized parliament committee, Danylo Hetmantsev reported that $37.43B was received from international partners to finance state budget expenditures this year, including $2B in Novemb... #DanyloHetmantsev #financialaidforUkraine #SupportUkraine #UkraineBudget #UkraineBudgetDeficit
Ukraine’s state debt risks exceeding ₴5 trillion and will amount to 90% of GDP. As of October 31, Ukraine’s state and state-guaranteed debt amounted to ₴4.96T. According to November’s results, the national debt will probably exceed the ₴5T mark, having increased by ₴2.3T (+... #DanyloHetmantsev #GDPinUkraine #UkraineBudget #UkraineEconomy #UkraineStateDebt
Ukraine is preparing to turn a state bank into a development bank. The goal is to turn one of the state banks into a development bank, similar to KfW in Germany, said the head of the Parliamentary Committee on Finance, Danylo Hetmantsev, during the Yalta European Str... #DanyloHetmantsev #financeUkraine #KfW #UkraineRecovery #UkraineStateBanks
The Ukrainian Parliament has proposed a new tax for banks, providing UAH 10B to the budget. The parliament’s tax committee is preparing a draft law that allows for additional taxation of net interest income or excess bank profits. “Most likely, the new law will come into effect i... #DanyloHetmantsev #ReformsinUkraine #TaxesinUkraine #UkraineBanksProfits
The processing industry has become the leading budget contributor. Through the first seven months of the year, the industry paid 17.1% of taxes and fees collected from enterprises across all sectors, the Tax Service reported. Also, processing companies showed the hig... #DanyloHetmantsev #GamblingBusinessInUkraine #TaxesToTheBudget #TaxesUkraine
The parliament talks about future tax changes in Ukraine. As part of their work on the National Revenue Strategy up to 2030, the Committee on Finance, Tax and Customs Policy is preparing proposals for changes in five priority areas of taxation, said the head... #DanyloHetmantsev #TaxesinUkraine #UkraineTaxSystem
The government launches tax reform in Ukraine. The Ukrainian Parliament registered a draft law on restarting the State Tax Service. The text of the draft law has not yet been published, but its main provisions were announced by its co-authors, Yar... #DanyloHetmantsev #taxreform #YaroslavZhelezniak
Ukraine concerned over significant potential losses from the export ban on agricultural products to EU countries. These losses will be significant due to the ban on transit and a stoppage of the Grain Initiative, said the head of the parliamentary committee on Finance, Danylo Hetmantsev. According to him, Hungary... #agroexportukraine #DanyloHetmantsev #GrainfromUkraine
At the request of the IMF, the Bureau of Economic Security of Ukraine will be rebooted. According to the head of the parliamentary finance committee, Danylo Hetmantsev, people are not satisfied with the work of the BES not only in Ukraine but also abroad. Ukraine undertook to reorganize ... #BureauofEconomicSecurity #DanyloHetmantsev
Ukraine’s state debt has increased by another $4.3B. As of November 30, Ukraine’s state and state-guaranteed debt amounted to UAH 3.929T or $107B, according to the Ministry of Finance. During November, the amount of debt increased in hryvnia equiv... #DanyloHetmantsev #UkraineBudgetDeficit #UkraineStateDebt
Ukrainian taxpayers have exceeded the budget revenue plan by more than 13%. From the beginning of 2022, the budget has received UAH 73.8B more in taxes and fees than last year, said Danylo Hetmantsev, head of the Committee of Finance. However, Hetmantsev noted that in Novembe... #DanyloHetmantsev #TaxesToTheBudget #TaxPayersUkraine
Ukraine’s national debt has increased to UAH 3.77T. The national debt of Ukraine for October 2022 increased by UAH 183.5B and, at the end of the month, amounted to UAH 3.771T, said Danylo Hetmantsev, head of the Verkhovna Rada Committee on Finance. In ... #DanyloHetmantsev #UkraineGDP #UkraineNationalDebt
Ukraine’s IT industry has grown by 13% in 2022. Compared to the previous year, the volume of computer services in Ukraine for the first nine months of the year increased by 13%, and exports by 23%, reported the Ministry of Economy. The department h... #DanyloHetmantsev #UkrainianITcompany #YuliyaSvyridenko
The Ukrainian Tax department has reimbursed exporters UAH 50.3B of paid VAT. Since the beginning of the year, exporters have been reimbursed UAH 50.3B in value-added tax (VAT) out of UAH 51.2B that had been agreed to be refunded. As the Chairman of the Tax Committee of the Par... #DanyloHetmantsev #StateTaxService #Taxdepartment
July state budget revenue exceeded plan by UAH 20B. The general fund of the state budget received UAH 64B in July, which is UAH 24.5B, or 61.9%, more than in July last year, announced the head of the finance committee, Danylo Hetmantsev. In total, in s... #DanyloHetmantsev #UkraineBudgetRevenue #UkraineStateBudget
The credit portfolio of enterprises has increased by almost UAH 30B since the beginning of the war. The credit portfolio of enterprises in hryvnia increased by 5.7% from February 23 to July 1, 2022 – from UAH 519.9B to UAH 549.4B. This was reported by the head of the parliamentary committee on... #CreditPortfolio #DanyloHetmantsev #UkraineBanking
Ukraine wants its own bank for reconstruction and development. Ukraine is considering the possibility of creating a dedicated bank for its economic rebuilding and development through one of the state banks, as reported to UNIAN by the head of the Tax Committee, D... #DanyloHetmantsev #ReconstructionAndDevelopmentBank #ReconstructionBank #UkraineBanking
The Ministry of Finance denies an additional import duty of 10%. Chairman of the Committee on Finance, Tax and Customs Policy Danylo Hetmantsev struck down the possibility of introducing an additional 10% import duty on non-critical imports, while the elimination o... #DanyloHetmantsev #Export #Import #ImportDuty #UkraineImportDuty
