Tuesday, November 23

The Ukrainian budget will lose up to UAH 150 bln due to the payment of salaries in the grey sector.

 The Institute of Social and Economic Transformation research said that in 2020, shadow salaries caused enormous losses to the budget of UAH 110-150 bln. ($5.7 bln). In addition, the institute said that some budget losses have increased due to shadow wages, smuggling, and corruption at the border. At the same time, abuses through offshore and tax “twists,” on the contrary, have decreased. Salaries pushed the four-year “leader,” smuggling and violating customs rules, to the second place. Their losses amounted to about UAH 70-120 bln ($4.55 bln) in 2021, while the volume of these schemes has increased over the past year.

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Nord Stream 2 will be launched without certification might be possible.  According to reports in the German newspaper, Handelsblatt, the gas pipeline may start operating without certification. This scenario was played out with German projects NEL and EGL 401. However, in this case, Nord Stream 2 may be fined €1 mln, according to the estimates of the German Federal Network Agency (BNA). The penalty for putting the gas pipeline into operation in Germany was acceptable, given that the cost of the entire Nord Stream 2 project is €10 bln.

The Ukrainian President, Volodymyr Zelensky, has announced the establishment of a new state airline Ukrainian National Airlines (UNA) . The new carrier will start flights in 2022 from two domestic and 14 international destinations. By 2026 the new airline will operate domestic flights to 8 destinations, and 7,000 flights a year. Medium-haul routes within the regional international network will commence in 2022. As a result, there will be flights to 14 destinations. In this segment, the plan for 2023-2026 is 37 destinations, reported ukrinform.

The newly-elected Chancellor, Olaf Scholz, is ready to support Ukraine’s move towards EU membership. The coalition agreement of the new German government contains a clause stating its readiness to support Ukraine’s movement towards membership in the European Union. The agreement reads, “We will work together with the EU and its Member States to further develop the Eastern Partnership and a market economy. It is also noted that the German government will continue to assist Ukraine in restoring its full territorial integrity and sovereignty”.