Ukrainenews

Monday, January 4

Ukraine’s minimum wage increased Friday by $35, $212 per month Ukraine’s minimum wage increased Friday by $35, $212 per month. On Dec. 1, it increases to $230. With the minimum wage largely used to calculate pensions, Ukraine’s average monthly wage is $480.

Real wages were up 8% yoy in November Real wages were up 8% yoy in November, reports the State Statistics Service. Nationally, the average nominal wage was $404. In Kyiv, the wage was 54% higher — $622. Nationwide, the biggest regio...

Despite the global economic recession, Ukraine’s trade deficit dropped in half last year Despite the global economic recession, Ukraine’s trade deficit dropped in half last year, from $10.22 billion to $4.9 billion in 2020, Taras Kachka, Ukraine’s Trade Representative, wrote on Facebook. ...

Despite a poor harvest, exports of the top three grains – corn, wheat and barley – were down only 2.3% yoy in dollar terms Despite a poor harvest, exports of the top three grains – corn, wheat and barley – were down only 2.3% yoy in dollar terms, to $9.4 billion for 2020. “Due to the reduction in the harvest, physical exp...

Tuesday, December 29

Ukraine faces a second year of high foreign debt payments in 2021– $16.1 billion. Ukraine faces a second year of high foreign debt payments in 2021– $16.1 billion. This is almost double the payments expected for 2022 – $8.6 billion – and $8.9 billion in 2023, the ...

AVELLUM law firm is emerging as Ukraine’s leading advisor on Eurobond issuances, advising on $1.2 billion worth of bonds AVELLUM law firm is emerging as Ukraine’s leading advisor on Eurobond issuances, advising on $1.2 billion worth of bonds in the second half of 2020. They were: Kernel’s $300 million offering of 2027 n...

Since freight service started in June 2020, 22 Chinese container trains have arrived at Kyiv-Liski Left Bank station Since freight service started in June 2020, 22 Chinese container trains have arrived at Kyiv-Liski Left Bank station, reports Ukrzaliznytsia. The trains take about two weeks to travel 9,000 km from Ch...

Ukrzaliznytsia is forcing the first private freight operator on UZ tracks to charge haulage tariffs seven times those of the state railroad, Ukrzaliznytsia is forcing the first private freight operator on UZ tracks to charge haulage tariffs seven times those of the state railroad, reported RBK Ukraina. Earlier this month, UZ signed the fir...

To take tractor-trailer trucks off the roads, Ukrzaliznytsia plans to offer shippers the option of sending semi-trailers to the EU on flatbed wagons To take tractor-trailer trucks off the roads, Ukrzaliznytsia plans to offer shippers the option of sending semi-trailers to the EU on flatbed wagons, Volodymyr Zhmak, the railroad’s CEO, tells Mintran...

Five or six “large domestic and foreign investors are ready to participate” in leasing some of Ukraine’s busiest rail stations Five or six “large domestic and foreign investors are ready to participate” in leasing some of Ukraine’s busiest rail stations, Alexander Pertsovsky, head of UZ’s ‘Passenger Company,’ tells Mintrans. ...

Thefts of parts from private company wagons in UZ workshops has become so bad that Lemtrans has started painting its removable parts a signature lemon yellow Thefts of parts from private company wagons in UZ workshops has become so bad that Lemtrans has started painting its removable parts a signature lemon yellow, reported Rail.Insider. Lemtrans, the owne...

VR Capital, the London-based emerging markets hedge fund, is pursuing litigation against Ukrzaliznytsia over a $300 million package of defaulted loans VR Capital, the London-based emerging markets hedge fund, is pursuing litigation against Ukrzaliznytsia over a $300 million package of defaulted loans that VR acquired two years ago at auction from Ru...

In the first quarter of 2021, DTEK Energy will launch Ukraine’s first industrial-scale energy storage system project In the first quarter of 2021, DTEK Energy will launch Ukraine’s first industrial-scale energy storage system project, DTEK CEO Maksym Timchenko announced last week. US company Honeywell is build...

With demand high for lithium for batteries, Gosgeonadr, the state Geology Service, is trying to conduct a public, online auction of two deposits With demand high for lithium for batteries, Gosgeonadr, the state Geology Service, is trying to conduct a public, online auction of two deposits – a 40-hectare site in Donetsk region and a 300-hectare...

The Prosecutor General’s Office yesterday charged Oleksandr Tupytsky The Prosecutor General’s Office yesterday charged Oleksandr Tupytsky, chairman of the Constitutional Court, with bribing a witness to make him give false testimony. The charge comes one week after Rad...

The Cabinet of Ministers approved yesterday seven production-sharing agreements with private and state companies for the production of oil and gas. The Cabinet of Ministers approved yesterday seven production-sharing agreements with private and state companies for the production of oil and gas. Only one foreign company is involved – Houston-based...

Ukraine’s biggest ski resort Bukovel is fully booked through the New Year’s holidays Ukraine’s biggest ski resort Bukovel is fully booked through the New Year’s holidays, Reuters reports from the Carpathians. With EU skis closed or inaccessible to Ukrainian tourists, Bukovel is jammed...

Monday, December 28

Retail sales for this year through November are up 8% in real terms, compared to the same 11-month period in 2019, Retail sales for this year through November are up 8% in real terms, compared to the same 11-month period in 2019, reports the State Statistics Service. In November alone, retail sales were up 12.1% y...

Starting today, Turkey, the top foreign travel destination for Ukrainians, requires a negative result of PCR coronavirus test performed 72 hours before arrival Starting today, Turkey, the top foreign travel destination for Ukrainians, requires a negative result of PCR coronavirus test performed 72 hours before arrival. Egypt, the other leading destination fo...

Concorde Capital’s Evgeniya Akhtyrko writes Concorde Capital’s Evgeniya Akhtyrko writes: “Retail sales in Ukraine are booming, backed by fast growth of real wages. Strong household consumption is helping the economy to offset falling investment...

Investments were down 24% in the third quarter Investments were down 24% in the third quarter, compared to the same July-September period in 2019. The Central Bank attributes this to uncertainty over the Covid-19 pandemic and freezing of solar and...

To mitigate the impact of the upcoming Covid quarantine, the government last week distributed $80 million in aid to 278,000 employees and small business owners To mitigate the impact of the upcoming Covid quarantine, the government last week distributed $80 million in aid to 278,000 employees and small business owners, the Digitalization Ministry reports. Wi...

Restaurants and bars can stay open until 7 am on New Year’s Day Restaurants and bars can stay open until 7 am on New Year’s Day, the Cabinet of Ministers has decreed. The following weekend, on Friday January 8, a 2-week strict lockdown is to be imposed nationwide,...

China, already Ukraine’s largest trading partner, could increase its two-way trade with Ukraine by 50%, to $20 billion by 2025, China, already Ukraine’s largest trading partner, could increase its two-way trade with Ukraine by 50%, to $20 billion by 2025, Irina Nikorak, executive director of Silk Link, Ukraine’s Silk Road Asso...

Ukraine is negotiating with a Chinese manufacturer for a supply of vaccines against Covid-19, Ukraine is negotiating with a Chinese manufacturer for a supply of vaccines against Covid-19, Ukraine’s Foreign Minister Dmitry Kuleba said Thursday on Ukraine 24 TV channel.

Of the 30 million ‘economically active’ Ukrainians, only 37%, or 10.9 million, pay taxes Of the 30 million ‘economically active’ Ukrainians, only 37%, or 10.9 million, pay taxes, Oleksiy Lyubchenko, Head of the State Tax Service, said recently on the Freedom of Speech show of Ukraina TV. ...

The top tax dodging regions are largely in the West The top tax dodging regions are largely in the West: Uzhgorod – 63%; Chernivtsi – 53%; Odesa — 48%; and Lviv — 46%. In central Ukraine, rates are better: Kyiv – 30%; Cher...

Off the books transactions account for “somewhere over 50%” of GDP Off the books transactions account for “somewhere over 50%” of GDP, Danil Getmantsev, ruling party MP and chair of the Rada committee on finance, tax and customs policy, told Radio Liberty. He called ...

In one step, 100,000 small businesses have downloaded the ‘cash register in a smart phone’ app since its debut August 1 In one step, 100,000 small businesses have downloaded the ‘cash register in a smart phone’ app since its debut August 1, 2020 Getmantsev said. As a result, there have been 100 million sales receipts u...

Legalized gambling will bring in $270 million in new tax revenues in 2021 Legalized gambling will bring in $270 million in new tax revenues in 2021, Hetmantsev predicted in the Radio Svoboda interview. Gambling in high-end hotel casinos is to start in Ukraine next year.

Ukrainian Insurance Group, a unit of Vienna Insurance Group, has paid $1.3 million for a cargo of wheat destroyed on August 4 in the massive port explosion in Beirut Ukrainian Insurance Group, a unit of Vienna Insurance Group, has paid $1.3 million for a cargo of wheat destroyed on August 4 in the massive port explosion in Beirut. The cargo was insured against all...

In 2021, Ukraine’s air travel will only rebound to half the level of 2019 In 2021, Ukraine’s air travel will only rebound to half the level of 2019, Infrastructure Minister Vladyslav Krikliy estimated in a year end interview with Channel 24. The 2019 level 25 million passen...

President Zelenskiy signed on Friday the national budget for 2021 President Zelenskiy signed on Friday the national budget for 2021. Expenditures are to be $46.5 billion and revenues are $38.2 billion. The deficit of $8.3 billion is to be 5.5% of GDP, forecast at $1...

Wizz Air plans to fly from Vinnytsia, its sixth Ukrainian city, Vinnytsia Mayor, Serhiy Morgunov, told Wizz Air plans to fly from Vinnytsia, its sixth Ukrainian city, Vinnytsia Mayor, Serhiy Morgunov, told Avianews. He said: “We are talking about the potential opening of flights from Vinnitsa to Berlin...

The budget is built around these numbers for 2021: The budget is built around these numbers for 2021: GDP growth — 4.6%; inflation — 7.3%, public debt to GDP at 65%; average exchange rate — UAH 29.1 per dollar (versus UAH 28.39 today...

In 2021, the Infrastructure Ministry plans to spend $21 million to upgrade the runway of Vinnytsia In 2021, the Infrastructure Ministry plans to spend $21 million to upgrade the runway of Vinnytsia, the nation’s 11th busiest airport. At the same time, the city is going to upgrade the terminal to si...

Friday, December 25

Ukraine’s IT sector grew by 20% last year, fueled by 4,000 IT companies in the market Ukraine’s IT sector grew by 20% last year, fueled by 4,000 IT companies in the market, according to a new report: “Ukraine: The Country that Codes.” The 56-page industry overview prepared by software ...

In a rebuff to China, Ukraine’s Foreign Affairs Ministry has decided to remove all Huawei equipment from its buildings. In a rebuff to China, Ukraine’s Foreign Affairs Ministry has decided to remove all Huawei equipment from its buildings. “Several other government agencies have followed this example,” the Foreign Mini...

The US government may help Ukraine pay the price difference between Huawei equipment and comparable equipment provided by Western companies The US government may help Ukraine pay the price difference between Huawei equipment and comparable equipment provided by Western companies, Keith Krach, US Under Secretary of State for Economic Growt...

Ukraine netted $90 million in 419 privatization auctions this year Ukraine netted $90 million in 419 privatization auctions this year, Economy Minister Ihor Petrashko said on Channel 24 TV, reported the Ministry. By using a transparent internet-based auction system, ...

The latest property of state alcohol producer Ukrspyrt was sold at auction yesterday for $2 million The latest property of state alcohol producer Ukrspyrt was sold at auction yesterday for $2 million, almost double the asking price, reports the State Property Fund. With almost half of Ukrspyrt’s 41 ...

In a nation building exercise, President Zelenskiy plans to inaugurate next year a Lviv-to-Luhansk highway, the longest in the nation. In a nation building exercise, President Zelenskiy plans to inaugurate next year a Lviv-to-Luhansk highway, the longest in the nation. Labelled the M-10, this east-west road would run 1,392 km, almost...

“ “We want to unite the West and the East with a big highway,” Zelenskiy said yesterday, speaking at the inauguration of the first section of Zaporizhia’s bridge over the Dnipro. Providing a new, intern...

With a two-year budget of $500 million With a two-year budget of $500 million, the M-30 saw 580 km restored this year. Another 750 km are to be repaired by the end of next year. For now, the high-speed road will terminate in Pokrovsk, Done...

Ukraine’s Cabinet has approved a $20 billion development plan to rebuild the Ukraine-controlled half of the Donbas. Ukraine’s Cabinet has approved a $20 billion development plan to rebuild the Ukraine-controlled half of the Donbas. Although multilateral institutions, such as the World Bank and the EBRD, are funding...

Concorde Capital’s Zenon Zawada writes: “ Concorde Capital’s Zenon Zawada writes: “Such economic development concepts will remain a fantasy for as long as the situation with the war in Donbas remains as it currently is, which is low-level fig...

The US is preparing new sanctions to block Russia’s Nord Stream 2 gas pipeline The US is preparing new sanctions to block Russia’s Nord Stream 2 gas pipeline, Reuters reports citing three Trump Administration officials. Relying on existing mandates from Congress, the Admin...

Ukraine does not plan to restrict air travel during the holidays Ukraine does not plan to restrict air travel during the holidays. “The government understands that people are in the mood for the holidays and does not plan to impose any restrictions on air traffic,”...

UIA is ending this year with a passenger count of 1,787,000 – only 22% of the level of 2019. UIA is ending this year with a passenger count of 1,787,000 – only 22% of the level of 2019. Transit passengers declined with UIA’s hub system, falling to 14% of last year. The number of flights was 1...

Seeking to put its airplanes to use, UIA is offering ‘flights to nowhere’ – one-hour sightseeing flights over Kyiv. Seeking to put its airplanes to use, UIA is offering ‘flights to nowhere’ – one-hour sightseeing flights over Kyiv. Passengers are guaranteed to fly above the clouds and to see the sun, a winter rarit...