Ukraine: trade with Finland growing

Trade between Ukraine and Finland has increased by 17%, Ukrainian Foreign Minister Pavlo Klimkin has said. He stated this at a joint briefing with Finnish Foreign Minister Timo Soini. “Our turnover has grown by 17%,” Klimkin said. In addition, he said that a meeting of the joint Ukrainian-Finnish commission on trade and economic cooperation was…

Ukraine: payments to consolidated budget in Vinnytsia region up in January-February 2018

Vinnytsia region transferred UAH 1.966 billion to the consolidated budget in January-February, according to the department of information activities and communication with public at Vinnytsia Regional State Administration. “The contribution of Vinnytsia region to the consolidated budget exceeded UAH 1.966 billion in January-February. The general sum of budget payments transferred over this period is UAH…

Ukraine: state debt down in January 2018

The aggregate state (direct) and state-guaranteed debt of Ukraine in January decreased by 0.25%, or by $190 million, to $76.11 billion, according to the website of the Ministry of Finance. In the national currency the state debt decreased by 0.46%, or by UAH 9.82 billion, to UAH 2.132 trillion. According to the report, public debt…

Ukraine: EBRD supports strategy for state-owned banks

The European Bank for Reconstruction and Development (EBRD), Ukraine’s largest international investor, supports the Ukrainian government’s updated strategy for reforming the country’s state-owned banks. EBRD’s Country Director for Ukraine Sevki Acuner said that the strategy had been developed in the form of a general debate, which resulted in a very clear-cut strategy with the clear…

Ukraine: gas withdrawal up due to cold snap

Ukrainian energy and coal industry minister’s advisor Maksym Beliavsky says because of the cold snap on February 24-25, Ukraine has increased gas withdrawal from its underground storage facilities (USFs) to 101 million cubic meters per day, the maximum level for the entire 2017-2018 heating season. “Ukraine, because of the temperature drop, has increased the pumping…

Ukraine: Ukrzaliznytsia and General Electric sign agreement on production of locomotives

PJSC Ukrzaliznytsia and U.S. company General Electric Transportation signed a framework agreement on modernization and production of locomotives. The signing ceremony took place in the presence of Ukrainian President Petro Poroshenko and U.S. Ambassador to Ukraine Marie Yovanovitch. The agreement, in particular, provides for the modernization of a locomotive fleet and the construction of new…

Ukraine: public debt exceeds UAH 2 trillion

Ukraine’s public and publicly guaranteed debt has amounted to UAH 2.14 trillion (about $74 billion), Head of the State Treasury Service Tetiana Sliuz said during a public report on the activities of the State Treasury Service of Ukraine for 2017. “Of course, publicly guaranteed debt actually reaches trillions. As of January 1 it amounted to…

Ukraine: fast economic growth not ensured

Ukrainian Prime Minister Volodymyr Groysman has said Ukraine has yet to live up to its potential and ensure steady, fast economic growth. “So far, we have not been able to execute our ambitious plan to provide for steady, fast economic growth we are capable of,” Groysman said. Groysman added that many reforms had been launched…

Ukraine: sugar output up

Ukrainian sugar refineries have completed the current sugar production season, having produced 2.14 million tons of sugar since its launch on August 30, 2017, up by 6.5% YoY. “The production season is over. Forty-six sugar refineries have produced 2.14 million tons of sugar. Noteworthy, the increase in sugar output could be even greater, but the…

Ukraine: gas stocks down

Natural gas stocks in Ukraine’s underground storage facilities (USFs) on February 10-17 shrank by 5.2%, or 611 million cubic meters, from 11.681 billion cubic meters on the previous week to 11.070 billion cubic meters. In particular, 91.27 million cubic meters of gas were withdrawn from the storage facilities on February 17 alone, the state-run gas…

Ukraine: 80% of fish imported

Ukraine imports 80% of the consumed fish, according to First Deputy Agrarian Policy Minister Maksym Martyniuk. He stated that Ukraine had huge potential for import substitution. “We need to develop the production of aquaculture: once the fish is produced in Ukraine and sold for the Ukrainian hryvnia, then poachers, who now receive fish for free…

Ukraine: local budgets revenues up in 2017

Revenues of local budgets in Ukraine grew by 31% or by UAH 45.3 billion due to the decentralization reform carried out in 2017, Prime Minister Volodymyr Groysman wrote on his Facebook page. “665 united territorial communities have already been created in Ukraine. Territorial communities receive millions of hryvnias for infrastructure development: they buy equipment for…