The National Bank of Ukraine (NBU) expects an actual budget deficit in 2020 at the level of 6-6.5% of GDP instead of the 7.5% foreseen in the forecast, Deputy Governor of the NBU Dmytro Sologub has said.
“This year’s budget deficit is set at 7.5% of GDP. This is absolutely correct from the countercyclical point of view. But, apparently, the actual deficit will be lower… We estimate that the budget deficit will be around 6 -6.5% of GDP,” he said in an interview with Interfax-Ukraine.
According to him, the budget deficit fell below the forecast due to the strong underfunding of existing expenses. “Catching up on them in recent months will not be easy given the funding opportunities,” he said.
The American video service Netflix Inc. became a member of the American Chamber of Commerce in Ukraine (ACC), ACC President Andy Hunder told the members of the association.
He recalled that Netflix is now filming its first feature film in Ukraine.
Discovery Communications Europe Limited also became a member of the ACC in Ukraine in August.
Earlier information appeared on Netflix’ website that two Ukrainian studios Postmodern Postproduction and Tak Treba Production became partners of the video service and received the Gold partner status. They will duplicate service products in Ukrainian.
Postmodern Postproduction (formerly Pteroduction Sound) is one of the largest film studios in Ukraine. It specializes in postproduction (dubbing, CGI and VFX). Founded in 2001, it is part of Film.UA Group. The CEO of the company is Serhiy Bondarenko.
The multimedia company Tak Treba Production specializes in adaptation services for foreign films, TV series and animation (voice acting, dubbing, titration in Ukrainian and Russian). The company was founded in 2003 and is headed by Dmytro Melnyk.
Kovalska Industrial and Construction Group intends to invest $ 70 million in the construction of five business centers in the Unit.City innovation park, CEO of the group Serhiy Pylypenko has said at a press briefing.
“The Kovalska team will undertake the construction of a cluster, which, in particular, will include five business campuses with a total area of 70,000 square meters. Investments in the development of the innovation park from the group will exceed $70 million. The project is expected to be completed in four years,” a press release from the company says.
Pylypenko noted, joining the project as a 100% campus investor will allow the company to gain a foothold in the status of a professional commercial real estate developer.
All properties are expected to be certified according to the Leed Silver green standard. To develop the projects, Kovalska involved the Polish architectural bureau APA Wojcoechowski and the international engineering company TEBIN.
“Thanks to its financial, technical resources and its construction capabilities, Kovalska fully takes control of this project – from the concept to the completion of construction and management,” Pylypenko said, stressing that the company is a 100% investor in the project.
According to the founder of UFuture holding, Vasyl Khmelnytsky, who is quoted by the press service, the Unit.City project has been implemented only by 7%. Attracting powerful strategic partners to the development of this project will provide an opportunity to bring it to the global level in 2023.
National bank of Ukraine’s official rates as of 24/09/20
Source: National Bank of Ukraine
Official rates of banking metals from national bank as of September 24
One troy ounce=31.10 grams
Ukraine and Hungary will soon hold a business forum of Ukrainian and Hungarian companies, Ukrainian Foreign Minister Dmytro Kuleba said.
“We also agreed to structure our interaction on cooperation programs that Hungary is implementing in Zakarpattia region. You know that both Péter [Szijjártó] and I pay great attention to the development of trade, therefore we also agreed to immediately hold a business forum of Ukrainian and Hungarian companies under the auspices of our two ministries,” Kuleba at a joint press briefing with Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó in Uzhgorod on Wednesday.
The Ukrainian minister said that both countries are striving for the growth of trade, interpersonal contacts, infrastructure projects, political contacts.
“We, as you know, have a very intensive and rich dialogue with my Hungarian colleague, the goal of which is to ensure rich, dynamic and effective interaction between Ukraine and Hungary. It will not be an exaggeration to say that we have already achieved a lot in this area: we renewed trust in our dialogue, we held a meaningful meeting of the bilateral Ukrainian-Hungarian economic commission, we started to move towards the implementation of a number of common infrastructure and trade projects,” Kuleba said.
However, Hungarian Minister of Foreign Affairs and Trade said that Hungary is ready to “steer bilateral relations in the right direction” and named a number of projects that Budapest is ready to implement.
“I noted to my colleague that we are ready to co-finance the reconstruction of Berehove hospital. We are ready for the reconstruction of the bridge that crosses the Tisza River, which passes near the Chop-Zahony checkpoint. We are ready to take part in the construction of a bypass road in Berehovo and its construction to the border. We are ready to open a border checkpoint. We are ready to finish the M3 highway to the Ukrainian border by 2021,” Szijjártó said.
He said that Hungary will continue to help Ukraine and noted that over six years his country has already invested HUF 90 billion in the development of Zakarpattia.
“We recognize the territorial integrity of Ukraine, we support gas supplies that go to Ukraine, we provide transit through Hungary for Ukrainian citizens who travel to Europe. And in the OSCE mission, which operates in eastern Ukraine, one of the largest groups is Hungarian specialists,” the head of the Foreign Ministry said.
