Ukraine: shadow economy down in H1 2018

The share of Ukraine’s shadow economy totaled 32% of GDP in the first half of 2018, down by 3% YoY, the press service of the Economic Development Ministry reports. According to the ministry, the shadow economy in Ukraine declined due to maintaining macroeconomic stability, creating favorable conditions for doing business in Ukraine and preserving the…

Ukraine: NBU decides to liquidate VTB Bank

The National Bank of Ukraine on December 18 made a decision to terminate the banking license of Kyiv’s VTB Bank, a subsidiary of the eponymous Russian lender, the press service of the Individuals’ Deposit Guarantee Fund reported. “The Deposit Guarantee Fund made the corresponding decision based on the National Bank decision on December 18 on…

Ukraine: new guided projectile Kvitnyk ready for testing

Ukraine’s state-run defense concern UkrOboronProm says a new 152 mm high precision-guided artillery projectile Kvitnyk is ready to undergo scheduled testing. All components of the new ammunition are 100% Ukraine-made, the arms manufacturer boasts. “The state-owned Progres Research and Production Complex, which is a part of UkrOboronProm, has completed the works on total import substitution…

Ukraine: Kyiv International Airport names most popular destinations in 2018

The most popular international flights from Igor Sikorsky Kyiv International Airport (Zhuliany) in 2018 were Minsk, Warsaw, Sharm el-Sheik, Ankara, Dubai, and Antalya, the airport’s press service wrote on Facebook. “And domestic flights – Odesa, Zaporizhzhia, and Lviv,” reads the report. In January-November Kyiv International Airport serviced 2.606 million passengers, up by 53.7% YoY. “The…

Ukraine: gas stocks down

Natural gas reserves in Ukraine’s underground storage facilities (USFs) have shrunk by 9.6%, or by 1.65 billion cubic meters, to 15.5 billion cubic meters since November 7, when Ukraine started pumping out gas from its stocks. As of December 8 gas reserves in the country’s USFs were estimated at 15.542 billion cubic meters, down by…

Ukraine: Okean shipyard sold for $4.3 million

Assets of the PJSC Mykolaiv Shipyard Okean (Ocean) located in Ukraine’s southern city of Mykolaiv were sold at an auction on December 3 to Annona Trading House LTD for UAH 122.195 million, or $4.3 million, according to Liquidator of the shipyard Iryna Serbin. Initially, the starting price of the enterprise was UAH 1.8 billion ($63.8…