The Ukrainian economy will recover from the effects of the corona crisis in two or three years. This assessment of experts was published by the Ministry of Economy in a report on the impact of coronavirus on Ukraine.
The agency reminded that last year the economy lost 4%, but this year GDP is expected to grow by 4.1%. In the next two years, growth rates will be lower – 3.5% and 3.9%.
“Ukraine needs two to three years to restore the lost potential during the COVID-19 pandemic,” the report said.
It is noted that in terms of entering the growth trajectory, the demand for labor will gradually increase, and the unemployment rate will decrease, but will not reach the pre-pandemic level (consensus estimate for 2021 remained at the previous level and was 9.2%, for 2022 – slightly increased to 8.7% compared to the previous 8.5%).
The consensus estimate of inflation for 2021 is 7.4% against 6% (preliminary estimate), for 2022 – 6.6% as opposed to 6%, respectively. Inflation will return to the National Bank’s targets (5.7% in 2023 and 5.1% in 2024).
According to the NBU, in the first quarter of 2021, Ukraine’s economy shrank by 1.5%. The central bank also downgraded its growth forecast due to quarantine restrictions.
During the trading session on Monday, July 26, bitcoin accelerated growth and traded at $ 39,177 thousand (+ 10.58%). This is evidenced by data from the portal Coindesk. After that, the cryptocurrency rate slowed down and was at $ 38,939 thousand (+ 9.91%), after which it began to move further. Last night the rate of […]
Uber has announced an agreement with TPG Capital to acquire Transplace, which provides the widest portfolio of technology services and solutions in the logistics and transportation industry. The estimated amount of the deal is a considerable $ 2.25 billion, but about $ 750 million Uber will pay in the form of its own shares, and […]
Shares of Twitter, which rose 28.5% since the beginning of 2021 and 88.3% over the past 12 months, rose sharply by 5% after the publication of quarterly results above analysts’ forecasts. Twitter reported sharp revenue growth of 74% to $ 1.19 billion from a forecast of $ 1.06 billion. The company’s revenue growth in the […]
The Ministry of Infrastructure has developed a draft order that will allow Ukraine to establish production of hydrogen-powered cars. This was reported on the website of the ministry. It is noted that today in Ukraine there are no requirements for hydrogen transport. These are electric vehicles on hydrogen fuel cells. They run on compressed hydrogen. […]
PrivatBank warns users about a new fraud scheme that uses a fake website and at the same time the bank’s logo. This was reported by the press service of the Bank. It is noted that the Bank’s security service found the site p-invest.site, which was registered by unknown individuals in the United States and which […]
In 2020, corruption caused JSC Ukrzaliznytsia 8 billion hryvnias in losses. The head of the Temporary Investigation Commission of the Verkhovna Rada on UZ Yulia Hryshyna with reference to NABU data announced this. “NABU has carried out significant analytical work on Ukrzaliznytsia’s procurement. Detectives estimated Ukrzaliznytsia’s losses from corruption in procurement at UAH 8 billion […]
The development of critical materials could attract billions of euros in investment in Ukraine, according to Prime Minister Denis Shmygal. He said this at a summit conference on the strategic partnership between Ukraine and the EU on critical raw materials and batteries. “Ukraine creates conditions for attracting investors. The current rules of access to subsoil […]
The US Federal Aviation Administration (FAA) has ordered the state airline to inspect about 2,500 Boeing 737 aircraft for defective relays and cabin pressure drops. “An undetected failure of both relays could slow the crew’s detection of insufficient cabin pressure and result in the crew losing their ability to work due to hypoxia and, as […]
Ukraine has acceded to the Protocol about record of revisions to European agreement for international highway carriage of dangerous materials. It is reported by UKRINFORM. 234 national deputies supported the adoption of the bill. As noted during the presentation of the document in Verkhovna Rada Anastasiia Deeva (Deputy Minister of Internal Affairs), Ukraine acceded to the […]Next
The state bank “Oschadbank” plans to recover in court more than $ 100 million from the largest producer of mineral fertilizers in Ukraine – “Stirol” concern. It is reported by UNIAN with reference to the Unified State Register of court decisions. The question is about $ 100 million debt of the concern, that is the […]Next
The price of oil in September will remain low, perhaps even a slight decrease from current levels below $ 40 per barrel. In October, the downward trend is likely to be interrupted and a gradual growth will begin, which will accelerate in November and December, according to TASS experts. “There will be no serious drop […]Next
The German authorities have chosen 62 large hydrogen projects that will receive state funding of 8 billion euros under the European Union’s IPCEI program (important projects of common European interest). The Ministry of Economy and Energy of Germany announced this the day before with reference to the head of the department Peter Altmeier. “We want […]Next
Antimonopoly Committee of Ukraine has fined the Russian company “Gazprom” for 85 billion UAH for abuse of monopoly power. This information was announced by the head of department Yuriy Terentyev on his Facebook. He emphasized that the “Gazprom” is a monopolist in the market of transit of natural gas through main pipelines on the territory […]Next
Apple has given to CEO Tim Cook two options which can be converted into approximately 1 million shares of the company under certain conditions. This follows from the documents submitted by the corporation in the Securities and Exchange Commission (SEC) of the USA. The first option is 333,987 shares with the restrictions, which the head […]Next
Facebook’s creative team continues its efforts to increasingly monetize its huge audience of more than 2.85 billion active users per month and 1.8 billion active users per day. Facebook’s current plans are to improve the monetization of its Facebook Live product for online broadcasts of events by connecting more paid sports content. Facebook says it […]Next
Last week, on Wednesday, November 25, 2015 Andre Esteves, the founder of the Brazilian investment bank BTG Pactual, was taken into custody in the framework of an extensive investigation of bribery. It is known that large Brazilian construction firms are involved into the scandal and another defendant is a state oil company Petroleo Brasileiro SA. […]Next
The owner and president of DCH Oleksandr Yaroslavsky is ready to attract $ 1 billion in investments in the restoration of the Kharkiv Aviation Production Enterprise. This statement is published on the official website of the DCH. “The DCH Group is ready to take responsibility for the resumption of domestic aircraft construction and raise $ […]Next
Company Guild Esports of David Beckham, specializing in cybersport, announced plans to place its shares on the London Stock Exchange in the autumn of 2020. During the IPO, the company expects to raise 20 million pounds ($ 25.86 million). It is estimated that it will be valued at 50 million pounds. The resulting funds Guild […]Next
Ukraine has repaid a $ 350 million loan to Deutsche Bank AG London ahead of schedule this week, Interfax-Ukraine reports citing a source. Including interest, the payment was about $ 354 million. Ukraine took this loan in December last year for up to six months at a rate of up to three-month LIBOR + 5.75%, […]Next
The increase of the minimum wage in Ukraine from UAH 5,000 to UAH 6,500 in 2021 may increase the state budget deficit to more than 6% of gross domestic product. This is stated in the economic review of the World Bank. In addition, the increase in the minimum wage will increase the overall need to […]Next
The new Ukrainian low-cost carrier Bees Airline registered its first two aircraft in Ukraine – a Boeing 737-800. “This is a Boeing 737-800 with flight numbers of the Ukrainian register UR-UBA and UR-UBB. The State Aviation Service issued registration certificates for them on February 22 and 23, 2021,” the statement reads. It is noted that […]Next
Saudi Arabian State Oil Company Saudi Arabian Oil Co. (Saudi Aramco) is negotiating the sale of up to 49% of its pipeline assets to a consortium of American, Chinese and local investors, writes The Wall Street Journal, citing informed sources. According to sources, the amount of the transaction could range from $ 10 billion to […]Next
The ADM Company wants to invest in Illichivsk Commerce Seaport. It is reported by the press-service of the port. The ADM already has the working capacities in the port of Odessa, the company decided to take a part in the tender for the implementation of the investment projects on the territory of the Illichivsk Commerce […]Next
The “Klub syra” Company is considering the possibility of cheese deliveries to Romania and Bulgaria and deliveries of dry fat-free to Romania, Bulgaria and Poland. This was announced by the CEO of the company Maxim Rylik, writes “Ukrainian News”. “As for the European Union, today we are considering the issue of the exports in direction […]Next