President’s office estimates Ukraine’s GDP at 3.8 in 2021.

Deputy Head of the President’s Office Yulia Svyrydenko says: “We expect that a full-fledged economic recovery will take place during this and subsequent years. This year we forecast the growth [of GDP] at the level of 3.8%.” She noted a recovery in private consumption and external demand. The Ministry of Economy has confirmed its growth forecast for 2021 at 4.1%, while the National Bank expects the GDP growth at 3.8%.

Bell Textron’s ‘Huey’ helicopters, the US military’s workhorse in the Vietnam War, will be assembled in coming months at Ukroboronprom’s

Bell Textron’s ‘Huey’ helicopters, the US military’s workhorse in the Vietnam War, will be assembled in coming months at Ukroboronprom’s Odesa Aviation Plant under license from the Fort Worth, Texas company. Formally called the Bell UH-1 Iroquois, the first helicopter should be started in time for Ukraine’s 30th Independence Day, Aug. 24, Yuriy Gusev, CEO of Ukraine’s defense conglomerate, said Friday after a visit to the plant. Most of the 16,000 Hueys made since 1952 have been manufactured in Texas

US investments in Ukraine are expected by the end of this year in a series of areas,

US investments in Ukraine are expected by the end of this year in a series of areas, Oksana Markarova, said in a lengthy interview with Ukrinform made prior to her traveling to Washington to take up her new post Ukraine’s ambassador to the United States. “We are already discussing a number of projects in the defense sector, energy, mining, agriculture, where I hope we will be able to show progress during the first six to twelve months,” she said. “Above

A five-year veteran of Ukraine’s Finance Ministry, Markarova dampened hopes that her main job is to get Ukraine’s IMF program back on track

A five-year veteran of Ukraine’s Finance Ministry, Markarova dampened hopes that her main job is to get Ukraine’s IMF program back on track. She said: “Most of the central bodies of financial organizations are located in Washington, and I have a huge successful experience of working with them and a wide base of personal contacts at all levels, including managerial one, but working with the IMF is far from the main task of the ambassador to Washington.”

Ukraine will receive only one IMF tranche this year,

Ukraine will receive only one IMF tranche this year, predicts Fitch Ratings. Predicting that Ukraine will get less than one quarter of the $2.9 available under the June 2020 Standby Arrangement, the New York-based credit rating agency writes:  “Fitch envisions one IMF disbursement of $0.7 billion for 2021, $1.5 billion of other official funding, a higher Eurobond issue than the planned $1.4 billion, and a 0.2% GDP cut in budget reserves.”

Financial needs in the second half of this year will pressure the government to adopt the anti-corruption and free market reforms demanded by the IMF,

Financial needs in the second half of this year will pressure the government to adopt the anti-corruption and free market reforms demanded by the IMF, Fitch predicted. Foreign debt repayments spike in September, to $2.2 billion, and government budget needs increase in the fall.

As Ukrainians gain confidence in money transfer systems, the amount of money transferred inside the country grew by 24% yoy in 2020

As Ukrainians gain confidence in money transfer systems, the amount of money transferred inside the country grew by 24% yoy in 2020, to the equivalent of $9.5 billion, reports the National Bank of Ukraine. It was the fourth consecutive year of growth over 20%.

The amount of money sent into Ukraine through money transfer systems increased by 19% yoy, to $2.7 billion.

The amount of money sent into Ukraine through money transfer systems increased by 19% yoy, to $2.7 billion. The average amount of one transfer increased by 7%, to $393. The top sources of money coming in by money transfers were: the US, Italy, and Israel. Overall, $12.1 billion was sent into Ukraine last year by informal and formal channels, estimates the central bank.

More movies, better food, and chatbots oriented toward business customers are in the works for Ukrzaliznytsia this year,

More movies, better food, and chatbots oriented toward business customers are in the works for Ukrzaliznytsia this year, Alexander Pertsovsky, director of the state railroad’s ‘Passenger Company,’ told Hromadske Radio Friday. Expanding pilot projects, the railroad plans to expand to all long distance trains, the sale of lunch boxes, business lunches, children’s menu and, in partnership with Sweet TV, onling access to 280 films and cartoons with Ukrainian voice overs.

A Viber and Telegram chatbot for buying tickets

A Viber and Telegram chatbot for buying tickets that UZ launched in January with Visa and Middleware Inc. is to be expanded to handle group sales and “the B2B segment,” said Pertsovsky. UZ is working on a wait list feature for tickets on sold out trains. To promote sales, UZ may pay conductors sales commissions.

UZ will buy 100 new passenger sleeper cars for an expected price of $109 million

UZ will buy 100 new passenger sleeper cars for an expected price of $109 million, according a tender posted last week on Prozorro, the online procurement platform. The tender closes March 30 and the cars are to be delivered by year end. UZ carries about 40% of Ukraine’s long distance passenger traffic.

To boost Black Sea tourism, almost 500 km of bicycle paths are to be built in Odesa and neighboring Mykolaiv regions

To boost Black Sea tourism, almost 500 km of bicycle paths are to be built in Odesa and neighboring Mykolaiv regions. In Odesa, two paths totaling 420 km will run on two routes south of the city, Ukravtodor reports on Facebook. One 90km-circuit will connect the resort town of Chornomorsk, Hrybivka and Ovidiopol. A second 250-km ‘Big Bike’ route will run south past Zatoka, Shabo, to 16 and T-16-25 roads and will provide bicycle connections with Zatoka, Shabo, Serhiyivka and

Georgia reopens to foreign tourists today

Georgia reopens to foreign tourists today, after almost one year of quarantine. To enter Georgia, Ukrainians need to do two PCR tests – one within 72 hours of takeoff and a second 72 hours after arrival. In response, Ukraine’s SkyUp Airlines launches flights this week from  Kyiv Borsypil, Zaporozhia, Lviv, Odesa and Kharkiv to Tbilisi and Batumi. On Friday, Ukraine’s Health Ministry ranked Georgia as ‘Green’ is its coronavirus listing.

Rivals Wizz Air and Ryanair are gambling that Italy will open up for Ukrainian tourism at the end of this month.

Rivals Wizz Air and Ryanair are gambling that Italy will open up for Ukrainian tourism at the end of this month. Starting March 28, Ryanair starts service from Lviv to Bari, Naples, Palermo, Pisa, Treviso and Turin. Wizz Air starts flights from Lviv to Catania and Verona. From Odesa, Wizz Air starts flights to Bologna, Milan-Malpensa and Treviso. From Kyiv Sikorsky, Wizz Air starts service to Bologna, Catania, Milan-Malpensa and Rome Fiumicino. Lumiwings, a new Greek charter airline, plans to

Bees Airline, a new Ukrainian lowcost startup, plans to start flying this month from Kyiv Sikorsky to Egypt’s Red Sea resort of Marsa Alam and in April to Mombasa, Kenya.

Bees Airline, a new Ukrainian lowcost startup, plans to start flying this month from Kyiv Sikorsky to Egypt’s Red Sea resort of Marsa Alam and in April to Mombasa, Kenya. The airline has leased two Boeing 737-800s that were used for nine years by UIA. Because of the pandemic, Bees reportedly was able to lease each Boeing for $10,000 a day – a 30% discount over pre-pandemic rates.

HBO, the US pay TV network, is negotiating with Ukraine to create an “offline attraction” in the Chornobyl Zone

HBO, the US pay TV network, is negotiating with Ukraine to create an “offline attraction” in the Chornobyl Zone, deputy presidential chief of staff Kyrylo Tymoshenko, told the Infrastructure Forum. “It will not be an amusement park…it will attract many foreign tourists,” he said of the decommissioned nuclear plant, a 2-hour drive north of Kyiv. In 2019, millions of viewers around the world watched HBO’s 5-part Chernobyl miniseries. This April 26, the 35th anniversary of the nuclear disaster, marks the

To prepare for boat tours as early as this year from Kyiv to Chornobyl, the Pripyat River was dredged last year by the Ukrainian Sea Ports Authority.

To prepare for boat tours as early as this year from Kyiv to Chornobyl, the Pripyat River was dredged last year by the Ukrainian Sea Ports Authority. To allow the passage of a boat with a maximum draft of 1.6 meters, the Authority dredged 130,000 cubic meters from the 64 km section of the river between the Kyiv Sea and the Belarus border. Environmentalists warned that dredging in the exclusion zone would stir up radioactive sediments from the 1986 nuclear

Capital investment in Ukraine’s economy fell 28% yoy last year, to $15 billion

Capital investment in Ukraine’s economy fell 28% yoy last year, to $15 billion, reports the State Statistics Service. Investment in industry and agriculture fell by 34%; in construction by 36%; in retail by 29.5%; in real estate transactions by 29%. Investment in computers and telecom grew by 1.2%.

Two thirds of capital investments came from company funds

Two thirds of capital investments came from company funds. State budget funds accounted for 9%. Foreign investors accounted for only 0.4%. The drop in 2020 came after an 11% increase in 2019. During 2020, the drop deepened with every quarter, finishing with a 43% drop in the fourth quarter of 2020, compared to the same quarter of 2019.

Directing infrastructure investments into Luhansk, Ukraine’s easternmost region

Directing infrastructure investments into Luhansk, Ukraine’s easternmost region, Ukravtodor plans to pave three key road sections this year, totaling 176 km. By comparison, from 2014 to 2019, a total of 30 km of roads were repaired in the region, Alexander Kubrakov, CEO of the state highway agency, said Wednesday at the Ukraine 30 Infrastructure Forum. The World Bank and the European Investment Bank are helping to fund this year’s road work. Kubrakov said: “We will try to expand this project

As medical teams started vaccinating yesterday in all 24 regions, the Health Ministry reported a 40% spike in the daily toll of detected cases – 8,147.

As medical teams started vaccinating yesterday in all 24 regions, the Health Ministry reported a 40% spike in the daily toll of detected cases – 8,147. By March 31, Ukraine is to receive 2 million doses of of the Oxford/AstraZeneca vaccine, enough to vaccinate 1 million people, Health Minister Maksym Stepanov said on TV Ukraina yesterday.

President Zelenskiy has appointed former finance minister Oksana Markarova as ambassador to the United States.

President Zelenskiy has appointed former finance minister Oksana Markarova as ambassador to the United States. The president’s office said Thursday: “Oksana Markarova will set an example in the development of economic diplomacy: in attracting foreign direct investment in Ukraine, in promoting Ukrainian exports and defending the interests of Ukrainian business.”

Ukroboronprom and Pakistan have signed

Ukroboronprom and Pakistan have signed an $85.6 million contract for the repair of the main battle tanks that Ukraine sold to Pakistan between 1997 and 2002. The Soviet-design T-80UD tanks were manufactured in Kharkiv at the Malyeshev Factory. After an initial shipment in 1997, Russia protested that Ukraine did not have export rights and withheld key components. Ukraine filled part of the order from stocks, then fabricated parts to complete the full order for 320 tanks.

The maintenance contract with Pakistan was signed at IDEX-2021,

The maintenance contract with Pakistan was signed at IDEX-2021, the week-long international arms exhibition that ended yesterday in Abu Dhabi. “The Ukrainian delegation reached a number of preliminary agreements with the UAE, Saudi Arabia and Jordan in the areas of high-precision weapons, unmanned platforms, space technologies, and aircraft engine repair,” Interfax-Ukraine reports. Strategic Industries Minister Oleh Urusky headed Ukraine’s mission and wrote on Facebook that he met with Brazil’s Deputy Defense Minister Marcus Pontis.

Ukraine accuses Russian hackers of trying to disseminate malicious documents through a web-based system on which government documents are circulated.

Ukraine accuses Russian hackers of trying to disseminate malicious documents through a web-based system on which government documents are circulated. The aim was to contaminate information resources on the System of Electronic Interaction of Executive Bodies, Ukraine’s National Security and Defense Council said. “The methods and means of carrying out this cyber attack allow (us) to connect it with one of the hacker spy groups from the Russian Federation,” the council said. Separately, on Monday, Kyiv accused Russian internet networks

At least 1,000 highly skilled engineers would have been required to develop the code that hijacked widely used network software from US-based SolarWinds to deploy malware around the world,

Microsoft President Brad Smith told the Senate Intelligence Committee in Washington Tuesday. Smith said: “We’ve seen substantial evidence that points to the Russian foreign intelligence agency, and we have found no evidence that leads us anywhere else.” At least nine government agencies and 100 private companies were breached. White House press secretary Jen Psaki said Tuesday it will be “weeks, not months,” before the U.S. responds to Russia.

Ukrainians spend $4.2 billion on imports of new and used vehicles last year

Ukrainians spend $4.2 billion on imports of new and used vehicles last year, reports Ukravtoprom, the car industry association. Car imports were down by 11%, to 486,300, or $3.5 billion. Almost 100,000 cars were imported from Germany, making it the top source. As restrictions on diesel cars spread in Germany, prices on late model diesels have dropped, making them attractive to Ukrainian buyers. Sales of trucks and vans dropped by 16%, to 43,500. Germany was also the top supplier.

Over the next five years, up to $500 million will be invested to develop a year round resort in mountains

Over the next five years, up to $500 million will be invested to develop a year round resort in mountains around the century-old Carpathian resort of Slavske, Lviv region. Phase one will include 20 km of ski trails and hotels and ski-in ski-out condos, that Vasyl Danyliak, first vice president of OKKO Group, the lead investor. Danyliak and Oleksandr Shevchenko,co-owner of Bukovel, signed an agreement Wednesday with Ukravtodor on development of roads to support Carpathian mountain tourism.

The tourist flow and spending has not changed this winter at Bukovel,

The tourist flow and spending has not changed this winter at Bukovel, Shevchenko told Interfax-Ukraine at the Infrastructure Forum. Tourist spending averages €150 per day. Many skiers and snowboarders bought their passes last summer at a 50% discount. Shevchenko said that $15 million was invested in Bukovel last year. Looking ahead, he said the resort owners would like to invest in storing the terminal at Ivano-Frankivsk airport, if the Infrastructure Ministry rebuilds the old Soviet runway.

McDonald’s Ukraine plans to expand a pilot program of restaurant waste recycling to all 96 restaurants in the country by the end of this year

McDonald’s Ukraine plans to expand a pilot program of restaurant waste recycling to all 96 restaurants in the country by the end of this year, the company announced yesterday. As part of a worldwide McDonald’s drive to switch from plastics to paper by 2025, the restaurants in Ukraine switched last year to paper cups for drinks and paper boxes for salads.

Kyiv’s 11th Regus office work space opens in Podil next month

Kyiv’s 11th Regus office work space opens in Podil next month, reports the parent company, Luxembourg-based IWG Plc. Despite last year’s economic recession, total occupancy of the 10 existing Regus work spaces in Kyiv is 78%, Yulia Lytvynenko, Ukraine director of IWG, tells Interfax-Ukraine. Predicting that several large leases will be signed in coming weeks, she predicts that the overall occupancy will rise “to 83% by March.” The new Regus will occupy three floors of the new Volodymyrsky business center

Kyiv’s Sikorsky Airport is to add 500 meters to its runway, allowing Wizz Air, its primary user, to use larger jets.

Kyiv’s Sikorsky Airport is to add 500 meters to its runway, allowing Wizz Air, its primary user, to use larger jets. By moving to Airbus 321 jets, Wizz Air says it can reduce frequencies and noise in the capital’s Zhuliany neighborhood. Wizz Air has ordered 190 Airbus 321s, which carry 30% more passengers than the Airbus 320s, currently the workhorse of Wizz Air.

Mayor Klitschko signed an order last week for design work to start on a 5-year upgrade of the airport

Mayor Klitschko signed an order last week for design work to start on a 5-year upgrade of the airport. By expanding the runway to 2,810 meters, upgrading lights and adding an instrument landing system, the airport is to be certified to land jets in bad weather, avoiding diversions to Boryspil. Ukraine’s second busiest airport, after Boryspil, Sikorsky handled 2.6 million passengers in 2019. The City Council is mulling a second expansion: increasing the airport’s territory by 5%, to 278 hectares.

German and Biden Administration officials are discussing a package of measures that would allow the Russia-German gas line to open, but protect Ukraine’s security concerns

German and Biden Administration officials are discussing a package of measures that would allow the Russia-German gas line to open, but protect Ukraine’s security concerns, according to a Financial Times story headlined: “Germany aims for new deal with Washington on Nord Stream 2.” One proposal would empower Germany – or a German-American commission — to shut down the Nord Stream 2 pipeline if Russia stopped sending minimum gas flows across Ukraine, increasing risk of an all-out Russian military attack.

“As Berlin seeks solutions, early signs from Washington indicate that the Biden administration is seeking to defuse the Nord Stream 2 debate,”

“As Berlin seeks solutions, early signs from Washington indicate that the Biden administration is seeking to defuse the Nord Stream 2 debate,” the FT writes. “Two knowledgeable sources said [US Secretary of State Antony] Blinken has demonstrated a willingness to minimize sanctions.” Bloomberg later posted a matching story yesterday, headlined: “Germany Seeks Deal With Biden on Controversial Pipeline.” Bloomberg quotes Mark Helfrich, a Bundestag member from the ruling Christian Democratic Union, saying: “German, EU and U.S. officials are in talks

A cold weather spike in electricity consumption, a lack of coal, and power plant breakdowns are forcing Eastern Ukraine to import electricity

A cold weather spike in electricity consumption, a lack of coal, and power plant breakdowns are forcing Eastern Ukraine to import electricity from Belarus and Russia and Western Ukraine to import electricity from Slovakia, Romania and Hungary, reports Ukrenergo, the national power distribution company. As of Monday, 19 thermal power plants were offline, pulling 6,270 MW out of the system, Volodymyr Kudrytskyi, Ukrenergo’s chairman told a forum in Kyiv yesterday.

DTEK Group, Ukraine’s largest private power producer

DTEK Group, Ukraine’s largest private power producer, called on the government yesterday “to abolish price caps, which are an obstacle to the liberalization of the electricity market.” The company cited the example of the EU, where the cost of electricity production during peak loads can increase significantly. DTEK said: “We call on the government to intervene in the situation and immediately hold an anti-crisis headquarters with the participation of the Prime Minister.”

Ukraine’s Energoatom will soon stop sending spent nuclear fuel to Russia for processing and storage

Ukraine’s Energoatom will soon stop sending spent nuclear fuel to Russia for processing and storage, Petro Kotin, the company head, said yesterday. In July, the Centralized Spent Fuel Storage Facility will open, he said. At the same, time, Energoatom is completing a 43 km rail connector to the facility, built by Holtec, a US company, near Chornobyl. Nuclear supplies about half of Ukraine’s electricity.

With demand strong for Ukrainian government bonds, the Finance Ministry depressed yields on all five hryvnia bonds sold at yesterday’s auction

With demand strong for Ukrainian government bonds, the Finance Ministry depressed yields on all five hryvnia bonds sold at yesterday’s auction, the Ministry reported. With yields dropping from six to 44 basis points, the final range was 9.15% for 3-month bonds to 12.05% for 3-year bonds. The government sold hryvnia bonds for the equivalent of $213 million. Also posting results on Facebook, the Ministry says it sold $42 million worth of 2-year dollar bonds at 3.9% and €70.5 million worth

Looking beyond the bland public statements surrounding Ukraine’s recent suspension of talks with the IMF,

Looking beyond the bland public statements surrounding Ukraine’s recent suspension of talks with the IMF, Anders Aslund, a veteran IMF observer, writes in an Atlantic Council blog: “No agreement was concluded between the IMF and the Ukrainian government recently because they fundamentally disagree about pretty much everything.” Offering the only way forward, Aslund writes that President Zelenskiy “urgently needs to refocus on the anti-corruption messages that enabled him to win landslide election victories in the presidential and parliamentary votes of

DiDi, China’s giant online taxi service, plans to launch this year in Ukraine, reports AIN.ua news site. With 550 million users

DiDi, China’s giant online taxi service, plans to launch this year in Ukraine, reports AIN.ua news site. With 550 million users, tens of millions of users and billions of dollars in revenues, DiDi entered Russia last year, a first step in a plan to expand across Eastern Europe. Last week, DiDi posted on the GRC job search website that is looking for a manager to launch in Ukraine.

DiDi will compete with Bolt, Uber and Uklon for Ukraine’s taxi market, estimated by Uklon at $800 million a year.

DiDi will compete with Bolt, Uber and Uklon for Ukraine’s taxi market, estimated by Uklon at $800 million a year. Uber, the first mover in Ukraine, now operates in seven Ukrainian cities and claims that 4.3 million Ukrainians have downloaded its mobile app. Uklon operates in 19 cities and claims nearly 3 million users. Bolt operates in 10 cities and claims 3 million users.

Taxi services got a boost yesterday when the Rada overwhelmingly approved a bill raising the penalty for drunk driving to $608

Taxi services got a boost yesterday when the Rada overwhelmingly approved a bill raising the penalty for drunk driving to $608. For repeat offenders, the fine is doubled to $1,216, licenses are suspended for three years and vehicles can be seized. The Rada also tripled the fine – to $60 – for drivers caught breaking the national speed limit of 50km per hour in populated areas.

The Finance Ministry sold last year the equivalent of $13.6 billion worth of bonds

The Finance Ministry sold last year the equivalent of $13.6 billion worth of bonds, reports the Ministry. About one third of the bonds were in foreign currency — $3.8 billion and €800 million. State banks led the list of top purchasers: Privatbank, Ukrgasbank, Oschadbank, OTP Bank, Ukreximbank, Citibank and Raiffeisen Bank Aval. Top dealers in the secondary market were: Citibank, OTP Bank, Ukrgasbank, FUIB, Raiffeisen Bank Aval, Alfa-Bank, Kredobank and Oschadbank. At the end of December, Ukrainian banks held 52%

With Argentina and Russia moving next month to curb corn exports, Ukraine is meeting domestic consumers half way, imposing an export quota of 24 million tons

With Argentina and Russia moving next month to curb corn exports, Ukraine is meeting domestic consumers half way, imposing an export quota of 24 million tons, 8% higher than what pig and poultry producers wanted. High world corn prices are pushing producing countries to make they keep enough at home for domestic needs. Halfway through the marketing year, Ukraine has exported about half of its new quota for corn, its largest export crop, reports the Economic Development, Trade and Agriculture

Ukraine’s food exports to the EU slipped by 11% last year, to €6.5 billion

Ukraine’s food exports to the EU slipped by 11% last year, to €6.5 billion, the Ukrainian Agribusiness Club reports on Facebook. Ukraine was tied with China as the third largest source of imported food for the EU. In terms of market share, the ranking was: Brazil – 9%; US – 8%; and China and Ukraine – 5%. Last year, Ukraine fully used its quotas for duty-free export to the EU for 11 product foods: honey, sugar, cereals and flour, starch,

Poland, Slovakia and Hungary recruit heavily for Ukrzaliznytsia’s railway workers,

Poland, Slovakia and Hungary recruit heavily for Ukrzaliznytsia’s railway workers, leading to a growing labor shortage here, reports the Center for Transportation Strategies. “There are a huge number of job advertisements for railway workers in European countries, most of all in neighboring Poland, reports the story headlined: “How Ukrainian Railway Workers Leave the Country.” “The average age of people who quit and went to work abroad is 25-45 years,” a UZ union representative tells reporter Alina Kostyuchenko. Every year, about 5%

“Dmitri lokfuhrer,” or Dmitri, the locomotive engineer, is the poster boy for

“Dmitri lokfuhrer,” or Dmitri, the locomotive engineer, is the poster boy for Deutsche Bahn’s new Ukrainian language recruiting advertisement for Ukrainian train drivers. Featuring a video of Dmitri driving a late model DB passenger train, the announcement offers: assistance with relocation to Germany, up to 1 year training in Berlin or Leipzig, a compensation package, and an open-ended full-time employment contract with Deutsche Bahn. Requirements are higher education and B1, or intermediate, spoken German. Train engineer salaries in Germany are