Ukraine to join BEPS action plan in early 2017

Ukraine from January 1, 2017 will become an official member of the Inclusive Framework on Base Erosion and Profit Shifting (BEPS) led by the Organization for Economic Cooperation and Development (OECD). Ukraine’s Finance Ministry reported that Minister Oleksandr Danyliuk on November 22, handed a letter to OECD Secretary-General Angel Gurria. This is the final phase…


Ukraine: Ukravtodor to build new road to Hungary

The State Agency of Automobile Roads of Ukraine (Ukravtodor) intends to build a new road, which will connect the M-06 Kyiv-Chop highway with the Hungarian road M-3 Budapest-Nyiregyhaza. According to the press service of the agency, the corresponding decision was made following a joint review of infrastructure on the Ukrainian-Hungarian border. “This will allow combining…


Ukraine: grain production revised

Ukraine’s grain output will increase to 64 million metric tons in the 2016-2017 season, the largest grain harvest since the country gained independence in 1991, Agriculture Minister Taras Kutoviy said. Ukraine produced 60.3 million metric tons of grain in the 2015-2016 marketing season, according to the ministry. The latest forecast is a revision of the…


Ukraine: passenger traffic water transport down in January-October 2016

In January-October transportation of passengers by water transport in Ukraine totaled 400,000 passengers (-22.4%, YoY).

According to the State Statistics Committee of Ukraine, total passenger turnover in Ukraine fell by 6.6% to 4.02 million passengers.

In 2015, water transport of Ukraine carried 0.6 million passengers (-3.3%, YoY). (Portnews/Business World Magazine)

Ukraine: NBU relaxes access to currency loans with participation of export-credit agencies

The National Bank of Ukraine (NBU) has made an exception of the general rules of controlling the rates of foreign credits of loans if resident borrowers (both companies and financial institutions) raise funds from nonresident creditors with the participation of export-credit agencies. “This step would expand opportunities for residents’ access to foreign credit resources provided…


Ukraine: wheat exports down in October 2016

Ukraine exported roughly 2058 KMT of wheat in October down from 2068.5 KMT in October 2015. For the first four months of 2016/2017, Ukrainian wheat exports increased by 9.1% YoY to 8235.8 KMT against 7548.8 KMT in July-October 2015/2016. The period under review saw substantially higher deliveries to the markets of Bangladesh, Indonesia, Philippines, Libya,…


Ukraine: government backs termination of agreement with Russia on liquidation and return of aircraft

Ukraine’s Cabinet of Ministers has approved of a bill on termination of the intergovernmental agreement signed with Russia on July 1, 2003 on the liquidation of the procedure for returning aircraft staying at repair plants of the Ukrainian and Russian defense ministries. The bill drawn up by the Economic Development and Trade Ministry was backed…


Ukraine: seaports grain exports up in the third week of November 2016

On November 14-20, Ukraine exported 616.7 thousand tons of grains from the seaports, against 463.3 thousand tons on the previous week.

In particular, wheat shipments reached 158 thousand tons, corn – 408.2 thousand tons, and barley – 50.5 thousand tons. (APK-Inform/Business World Magazine)

Ukraine: grain legumes output up in 2016

In 2016 Ukraine considerably increased grain legumes production. Although official figures are not available yet, it can be assumed that legumes crop is 70% higher than last year, mainly owing to significant expansion of peas planted area. Moreover, favorable weather in spring and early summer ensured all-time high peas productivity. In general, experts believe grain…


Ukraine: winter grains condition best in the past three years

The weather conditions in the first half of November promoted active formation of the secondary system in winter wheat with different plant development degrees (one to four tillers per plant). This is vital for underdeveloped plantings. Important physiological and biochemical processes are underway in winter crop plants in such weather conditions. Low above-zero temperatures facilitated…