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 finance the expenditure side of the state budget to more than 13% of GDP.
Risks for Ukraine are associated with significant financing needs, with the need for payments on the public debt in 2021 and 2022 will exceed 7% of GDP, according to the World Bank estimates.
At the same time, Ukraine expects to receive $ 2.9 billion in additional official financing from the IMF, WB and EU by the end of this year. If they are delayed, the government will have to limit spending or borrow more domestically, the World Bank said.
The decision of the Constitutional Court violates Ukraine’s obligations to Western creditors. This was reported by the Ministry of Finance with reference to the statement of the head of the department Serhiy Marchenko. He addressed to the assessments of the World Bank management regarding the decision of the Constitutional Court on the officials’ e-declarations. “They […]
The European Union has expressed its readiness to help Ukraine to gain access to the coronavirus vaccine. This is stated in a statement following the summit, the text of which was published on Monday, October 6, on the website of the European Pravda. The parties agreed that a pandemic threatens the entire world and its […]
The IMF said that the continuation of Ukraine’s financial support program depends on the independence of NABU, SAP and HACCUkraine. This was stated by the representative of the International Monetary Fund Jerry Rice, on September 10 in Washington. “I can say that the creation of an effective anti-corruption base for Ukraine has been a crucial […]
The world economy is on the road to recovery amid the pandemic COVID-19, however, the final completion of the corona crisis is possible only in the case of mass use of the vaccine. This was stated by IMF chief Kristalina Georgieva and Chief Economist of Fund Gita Gopinath in their joint paper of the magazine […]
The Teva Ukraine company is the part of the Teva Corporation, the leading international pharmaceutical company specializing in the development, manufacture and marketing of generic and original medicines. The Antimonopoly Committee of Ukraine gave the permission for concerted action in the form of fulfillment of the conditions contained in Articles 9.6 and 9.12 of the […]
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Toyota Motors has introduced two cars Lexus IS and Toyota Mirai with new autonomous driving functions. New Advanced Drive assist technology includes a second-level autonomous system that helps drive the car by restricting the car’s lane, maintaining distance from other vehicles and changing lanes under the supervision of the driver. According to Toyota CEO James […]
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The European Commission has fined X €120 million for violating the transparency requirements set out in the Digital Services Act (DSA), according to the Commission’s press service. The company is accused of using a misleading “blue check” design, maintaining a non-transparent advertising repository, and restricting researchers’ access to public data. According to the Commission, X […]
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In the 9th year AD, the Roman proconsul Publius Quinctilius Varus returned to the German provinces with three legions to suppress the rebellion of the tribe. He did it successfully three years earlier – but this time, the enemy has decided to change strategy, and the legions were destroyed. Last cry of Varus is known […]
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December 23, 2015, the representatives of the largest streaming service in the USA Pandora Media reported that the company absorbed the music service Rdio, which become bankrupt, for $ 75 million. The deal was approved by the judge on the bankruptcy. There were no competing bids for the purchase of service. Pandora now becomes the […]
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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 […]
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U.S. pharmaceutical giant AbbVie has announced the acquisition of biotechnology company Apogee Therapeutics for $10.9 billion, marking the company’s largest acquisition in more than five years. The deal will strengthen AbbVie’s portfolio of treatments for inflammatory diseases, including atopic dermatitis and asthma. The acquisition is one of the largest biotechnology deals of 2026 and reflects […]
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Asian and Pacific Forum of Economic Cooperation (APFEC) of countries has taken place on 19-20thof November 2016 in Lima (Peru).The key political figures who representing different regions of the world will discuss the prospects of a further cooperation within the two-day meeting. It is especially important against the background of presidential elections in America results. It […]
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In the National Council of Ukraine on January 5, 2017 it was a briefing, the participants of which were the chairmen of the regulatory body and in result of which special commissioners of tv chanel got the right to broadcast, according to the source Media Detector. According to Uliana Feshchuk – a deputy head National […]
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If there is a sector in which Ukraine is objectively comparable to the leaders of the world rankings, it is agriculture. According to the «Food» and «Agriculture Organization», Ukraine ranks third in the world by percentage of cropland against the total county’s area. And according to the «National Master»(global statistics portal), Ukraine occupies the 4th […]
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Ukrainian companies have received the first permits to export weapons. This was announced by Rustem Umerov, Secretary of the National Security and Defense Council of Ukraine. He recalled that controlled arms exports are about both national security and the development of Ukraine’s defense industry, opening the door to new security alliances and expanded international partnerships. […]
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As of the end of June, the total amount of Ukraine’s public and publicly guaranteed debt reached $184.84 billion, increasing by $3.88 billion over the month. This was reported by the press service of the Ministry of Finance of Ukraine. As of June 30, 2025, Ukraine’s public and publicly guaranteed debt amounted to UAH 7,696.95 […]
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The world’s largest contract semiconductor manufacturer, TSMC, is making progress on the construction of its new European production complex: the factory in Dresden has officially moved to the main structural building phase. After completing this stage, the company plans to begin installing key infrastructure systems — clean rooms, chemical supply lines, ultra-pure water facilities, and […]
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The Cabinet of Ministers has approved a list of economic activities for which entrepreneurs and employees in the “red” quarantine zones can apply for state aid. This is stated in the resolution №329. The list of types of activities for which sole proprietors and employees can receive eight thousand hryvnias: Retail trade of motor vehicle […]
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Last year, the Commercial Court of Kyiv initiated a suit of the SANOF I company to the State Intellectual Property Service of Ukraine and to the “Kyivmedpreparat”, PJSC about completely voidance of Certificate of Ukraine on sign for the goods and services № 187104. The object of dispute has become a “SONAFІT” trademark registered company […]
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The vast majority of Chinese people are ready to abandon produced by the American company Apple devices in favor of the application for instant messaging WeChat. A sociological survey of more than 1 million people in China noted, that almost all are willing to renounce the use in everyday life of products produced by Apple. […]
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