The Pension Fund of Ukraine is raising retirement age for women from April, as well as changing the requirements for length of service with regard to all retirees. Therefore, certain groups of Ukrainians will retire later than expected. The new changes are regulated by the Article 26 of the Law No. 1058 “On Compulsory State…
In 2020, expenditures of the state budget amounted to UAH 1.29 billion, up by 19.8% YoY, according to the Finance Ministry of Ukraine. “The Cabinet of Ministers has approved the report on the implementation of the State Budget of Ukraine for 2020. Thus, due to the effective mobilization of resources, the government was able to…
Compared to 2019, price index of agricultural output decreased by 2% in 2020, which was mainly due to a 4.1% drop in prices of livestock products. Price index of crop products has decreased by 0.6%. The average purchase price of meat has decreased by 4.3%. In 2020, the largest decrease in the purchase price was…
If the Tallinn Hospital project was given a green light by the European Commission, it would set multiple precedents, starting with construction volume and cost. The construction of a central hospital in Tallinn’s Lasnamae district would be an ambitious endeavor to say the least, one that has no equivalent in Estonian history. The planned area…
Uzbekistan is to invest $2 million into the opening of the garment factory in Kyrgyzstan, Uztekstilprom association reports. The announcement is seen as a result of negotiations between business circles of the two states that took place as part of Kyrgyz president Sadyr Japarov’s state visit in Uzbekistan on March 11. The Director of Nil-Granit,…
Ukrainian banks’ net profit shrank by 59.1% YoY in January-February, to UAH 6.491 billion ($232.1 million). That’s according to the National Bank of Ukraine. The banks’ revenue over the period under review decreased by 24.1%, to UAH 35.1 billion ($1.25 billion). (UNIAN/Business World Magazine)
Minister of Social Policy Maryna Lazebna said the Pension Fund in 2020 fell short of UAH 4 billion ($143 million) as a result of quarantine benefits for individual entrepreneurs, in particular, a new social assistance program for their children. In addition, the government exempted entrepreneurs of 1 and 2 categories and other self-employed from paying…