Business news from Ukraine

Business news from Ukraine

MOVEMENT IN SCHENGEN AREA WILL BE REVIVED, BUT RECESSION IN EU AND GREAT BRITAIN IS MOST LIKELY COMING – EXPERT

Political expert Volodymyr Volia has shared his opinion about development prospects of the EU, the economic situation today and the consequences of the pandemic, as well as made forecasts about the revival of the Schengen Area exclusively for the Expert Kitchen program on the Expert Club YouTube channel.
According to the expert, the EU has faced several unpleasant events lately, such as the Brexit referendum and the so-called coronavirus crisis, and if the second wave of the pandemic occurs, the recession may get even worse and trigger a social crisis, poverty and unemployment.
“As the economy of Europe has been seriously affected since February, we may witness even a longer halt that will ‘kill’ the economy of the EU,” Volia said.
He added that as of the middle of April alone the EU has sustained a loss of more than EUR 3 trillion, which equals the annual federal budget of the United States. The expert also forecasted the exacerbation of the argument between the EU member states on the allocation of sales quotas, which are especially important to the countries of the Eastern and Southeast Europe, assistance and contributions to the EU budget.
In the expert’s opinion, the revival prospects of the Schengen Area look more optimistic.
“I think the movement inside the Schengen Area will be completely resumed by the end of June. As to the states, which are not a part of this area, a piecemeal approach will be applied to them. The epidemiological situation in each specific country will be taken into account and the regions of the world will be determined for the simplification of the procedure. Certainly, everything will also depend on the purpose of travel,” he said.
Volia also noted that tourism in the non-Schengen countries will be revived almost in full by the beginning of July.

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UKRAINIAN PRESIDENT CREATES COUNCIL TO IMPLEMENT BIG CONSTRUCTION PROJECT

Ukrainian President Volodymyr Zelensky by his decree ordered to create the coordination council to implement the Big Construction project led by Deputy Head of the President’s Office Kyrylo Tymoshenko.
“To establish a coordination council for the implementation of the Big Construction program as an advisory body under the President of Ukraine, which main task is to monitor the situation and develop proposals for implementing effective measures to implement the Big Construction program,” Zelensky said in decree No. 246/2020 dated June 23, posted on the president’s website.
By the same decree, Zelensky decided to establish that this coordination council is authorized to receive the necessary information, documents and materials from the government and local governments, enterprises, institutions, organizations; invite to meetings and hear information from representatives of ministries, other central and local executive authorities, heads of state-owned enterprises, institutions and organizations on issues within its competence.
Zelensky by this decree approved the staff of the council.
So, Tymoshenko was appointed the head, and the council also includes Minister of Infrastructure of Ukraine Vladyslav Krykliy, Minister of Health Maksym Stepanov, Minister of Development of Communities and Territories Oleksiy Chernyshov, Head of the State Automobile Roads Agency Oleksandr Kubrakov, First Deputy head of the President’s Office Serhiy Trofimov, and Deputy Head of the President’s Office Yulia Sokolovska.
The coordination council also includes Director General of the Directorate for Regional Policy and Decentralization of the Government of Ukraine Olha Buhai, Director of the Department for Infrastructure and Technical Regulation of the Secretariat of the Cabinet of Ministers Natalia Kozlovska (by her consent), Advisor to the head of the Government of Ukraine Mykhailo Podoliak and Advisor to the Minister of the Cabinet of Ministers Olena Symonenko (by consent).
This decree comes into force on the day of its publication.

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PRESIDENT OF UKRAINE SIGNS LAW ON NATIONAL FOREST INVENTORY

President of Ukraine Volodymyr Zelensky has signed the law “On Amendments to the Forest Code of Ukraine regarding the National Forest Inventory” No. 643-IX, which the Verkhovna Rada adopted on June 2, 2020.
“The law provides for the creation in Ukraine of a new system of collecting reasonable data on the forest fund for the purpose of further planning, forestry, the state forest cadastre, forest monitoring and the like,” the head of state’s website reported on Tuesday.
The document introduces the concept of a national forest inventory, defines its purpose and sources of financing.
The procedure for conducting a national forest inventory is approved by the Cabinet of Ministers of Ukraine, it will be carried out at the expense of the state budget or other sources not prohibited by law.
According to the law, persons authorized to conduct a national forest inventory during examinations have the right to be on land plots of the forest fund of Ukraine, except as otherwise provided by law.
Information obtained from the results of the national forest inventory is entered into the state land cadastre.
The law comes into force on the day after its publication.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 23/06/20

National bank of Ukraine’s official rates as of 23/06/20

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF JUNE 23

Official rates of banking metals from national bank as of June 23

One troy ounce=31.10 grams

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FOREIGN COMPANIES STORE 2.8 BCM OF NATURAL GAS IN UKRAINE

The volume of natural gas stored by foreign companies in Ukrainian underground gas storage facilities (UGS) in the “customs warehouse” mode as of mid-June is 2.8 billion cubic meters (bcm), which is three times more than the same figure of the previous year, the press service of Ukrtransgaz said on Facebook.
Some 54 companies are currently using Ukrainian capacities, while a year earlier their number was seven.
Earlier, the company informed that as of June 1, non-residents stored 2 billion cubic meters in the “customs warehouse” mode, which is four times more than in the same period in 2019.
As reported, according to the estimates of head of Gas Transmission System Operator of Ukraine (GTSOU) Serhiy Makogon, the capacity of Ukrainian underground storage facilities that may be available to European companies at the end of the third quarter of this year will amount to about 10 billion cubic meters

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