Ukraine: oilseed sector needs national brand

Ukraine, as well as the whole world, has faced unprecedented economic challenges. Unfortunately, the global economy still feels the effect of 2008 economic crisis, which means new challenges, both for domestic agricultural sector, and for oil and fat business in particular. It’s no secret that Ukraine mainly operates in raw materials markets. A 50% and…

Ukraine: rye and rye flour imports up

Rye production is steadily declining in Ukraine. If earlier Ukraine was an exporter of rye, before 2014 Ukrainian rye harvest was just enough for domestic consumption only. Over the last two seasons a new trend has emerged – both rye and rye flour imports are growing. The need to import one of Ukrainian traditional grain…

Ukraine: state to support pharmaceutical producers

The state could support Ukrainian pharmaceutical manufacturers by creating equally competitive conditions with foreign manufacturers, Deputy Health Minister Roman Ilyk has said. “There is no secret that in other countries the state supports pharmaceutical manufacturers, directly investing funds and making orders. There is no such possibility in Ukraine. We can create equally competitive conditions so…

Ukraine: IT service market to double

The Ukrainian IT service market by 2020 could expand to $5.7 billion from $2.7 billion in 2015 if the tax burden for the sector grows no more than 1% a year, according to a study of PricewaterhouseCoopers (PwC) conducted under order of the European Business Association (EBA). According to the study, the results could be…

Russia: GDP to go down in 2016

Russia’s gross domestic product (GDP) may fall by 0.6% this year but go up by 0.5-0.8% next year meaning that recession will be over soon, Alexei Kudrin, a former finance minister and the current head of the Center for Strategic Research, said. The Economic Development Ministry expects the economy to contract 0.6% in 2016 and…

Ukraine: in 2016/2017 peas exports to reach record levels

Due to significant increasing of peas production in Ukraine in the current season, the exports of peas in 2016/2017 MY will reach the record level – 450 thousand tons.

That is almost twice as much as last year. (APK-Inform/Business World Magazine)

Belarus: IMF forecasts long-term economical crisis

IMF mission presented the report on economic situation in Belarus. The report mentions that during 2015-2016 economic condition in Belarus was defined by “the decrease in national currency rate, salaries and at the same time growth of unemployment”. Moreover, IMF forecasts further economic decrease. Without structural reforms minor growth (+0.5%) can be expected in 2018.…