The National Bank of Ukraine (NBU) has improved macro forecasts for 2019-2021: the assessment of real economic growth this year has been increased from 3% to 3.5%, in the next year from 3.2% to 3.5% and in 2021 from 3.7% to 4%. The Ministry of Economic Development, Trade and Agriculture has improved the assessment Ukraine’s GDP growth in 2019 from 2.8% announced in the May forecast to 3.5%, according to the updated macroeconomic forecast of the government.
The conservative estimate of the government provides for 12% GDP growth in Ukraine over three years, and the optimistic one for 17.8%, said MP Oleksiy Honcharenko (the European Solidarity parliamentary faction).
The World Bank, taking into account the results of H1 2019, has improved its forecast for gross domestic product (GDP) growth in Ukraine in 2019 from 2.7% to 3.4%, expecting that it would accelerate to 3.7% and 4.2% in 2020 and 2021 respectively.
Ukraine’s GDP growth will reach 3.2% in 2020 with a further acceleration to 3.6% in 2021, Morgan Stanley predicts.
The Verkhovna Rada of Ukraine at first reading adopted the draft national budget for 2020 (bill No. 2000), which is based on the spring macro forecast of the Ministry of Economy and provides for budget revenues in the amount of UAH 1.079 trillion, expenses some UAH 1.17 trillion with a deficit of 2.09%.
The Verkhovna Rada, Ukraine’s parliament, has endorsed an action plan for the Cabinet of Ministers of Ukraine.
Ukrainian President Volodymyr Zelensky at a meeting with Chairman of the Japan-Ukraine Parliamentary Friendship Association Eysuke Mori has discussed possibilities for deepening economic and investment cooperation between Ukraine and Japan, the press service of the Office of the President has reported.
The deficit of Ukraine’s foreign trade in goods in January-August 2019 increased 16.7% compared with January-August 2018, to $5.843 billion, the State Statistics Service has reported.
The current dynamics of consumer prices allows expecting a decrease in inflation in annual terms in October to below 7%, Governor of the National Bank of Ukraine (NBU) Yakiv Smolii has said.
Actual inflation in Ukraine in September 2019 was lower than the forecast of the National Bank of Ukraine (NBU) published in the Inflation Report (July 2019), the regulator’s website reported.
Consumer prices in Ukraine after a decline in August by 0.3% and in July by 0.6% grew by 0.7% in September, Ukraine’s State Statistics Service said on Wednesday.
The deficit of Ukraine’s national budget in January-September 2019 was estimated at UAH 20.675 billion, including UAH 26.12 billion, which is the deficit of the budget’s general fund alone, the State Treasury Service reported on Friday.
The deficit of the general fund of the national budget of Ukraine in January-September 2019 amounted to UAH 25.8 billion and was financed by borrowings, the Ministry of Finance said in a press release on the website.
The National Bank of Ukraine (NBU) has raised its forecast for the country’s international reserves at the end of this year from $21.7 billion to $22.9 billion, the next year from $22.8 billion to $23.9 billion.
The international reserves of Ukraine in September 2019, according to preliminary data, decreased by 2.6%, to $21.438 billion due to significant repayments on government debt, the National Bank of Ukraine (NBU) said on its website.
Industrial production in Ukraine in September 2019 decreased by 1.1% compared to September 2018 after a decrease of 1.7% in August and 0.2% in July, the State Statistics Service has reported.
Ukraine’s transport companies in January-September 2019 carried 3.167 billion people, which is 5.7% less than in the same period in 2018, the State Statistics Service has reported.
The volume of construction work in Ukraine in September 2019 increased by 11.3% compared to September 2018, while in August 2019 compared to August 2018 this figure rose by 8.9%.
Retail trade turnover in Ukraine (legal entities and individual entrepreneurs) in January-September 2019 in comparable prices increased by 9.8% compared with January-September 2018, the State Statistics Service has said.
National bank of Ukraine’s official rates as of 05/11/19
Source: National Bank of Ukraine
European Travel Insurance (Kyiv) in January-September 2019 increased the number of insured tourists by 45% compared to the same period in 2018, to 1.375 million people, the insurer said in a press release.
According to its data, the total amount of premiums collected for this period in 2019 increased by 47% compared to the same period in 2018, and amounted to UAH 248 million, while over the nine months of 2018 the company collected premiums in the amount of UAH 169 million.
The company’s net profit for this period after paying taxes under the IFRS system amounted to UAH 48.740 million.
According to the press release, for the nine months of 2019 the company registered 13,306 insurance cases in the amount of UAH 79 million with tourists abroad and 141 insurance events for UAH 269,000 in Ukraine. In total, during this period of the year, 16 major insurance events worth more than UAH 300,000 each were recorded, and the total amount of payments on them exceeded UAH 8.2 million.
According to the company, for the nine months of 2019, the majority of appeals were received from Turkey (35%, or 4,640 cases), Egypt (21%, or 2,823 cases), and Bulgaria (6%, or 833 cases).
The net profit of ING Bank Ukraine (Kyiv) in January-September 2019 totaled UAH 581.984 million, which is 70.7% more than a year ago (UAH 311.638 million), according to quarterly financial statements of the bank posted on its website last week.
The net profit in Q3 2019 totaled UAH 165.506 million, which is 69.3% more than a year ago.
Net interest income for in January-September this year increased 5.7% compared to the corresponding period of 2018, to UAH 756.340 million.
According to the results of January-September 2019, the bank’s assets increased 11.0%, to UAH 12.159 billion, including loans issued to customers, which decreased 29.9%, to UAH 5.977 billion.
Bank liabilities from the beginning of the year grew by 17.3%, to UAH 8.051 billion.
The bank’s net worth for this period increased 0.5%, to UAH 4.108 billion. The charter capital remained at the level of UAH 731.298 million.
ING Bank Ukraine was founded in 1997. By January 1, 2019, its sole shareholder was ING Bank N.V.
According to the National Bank of Ukraine (NBU), on July 1, 2019, ING BankUkraine ranked 22nd in terms of net assets (UAH 11.413 billion) among 76 operating Ukrainian banks.
JSC Ukrzaliznytsia (Kyiv) from 2020 seeks to implement the 40-50% drawdown among clerical personnel, a member of the board of Ukrzaliznytsia, Zeljko Marcek, has said.
“No one is going to cut 120,000 employees in one year. Work continues with the relevant ministry, government, and the World Bank on a program to gradually optimize staff over the next three or five years. There is a road map,” he said in an interview for the company’s project “12 Persons of the Ukrzaliznytsia Strategy.”
Marcek said that Ukrzaliznytsia will get rid of non-core assets.
Ukrzaliznytsia pays salaries to lumberjacks, foresters and dancers. On the balance sheet of the company are hundreds of enterprises not related to rail transportation. This Soviet heritage forces us to pay utility bills and land tax at a time when only 10 out of 200 social facilities are profitable. Therefore, we will have to get rid of assets not related to railways, rolling stock and communications facilities,” he said.
At the same time, according to Marcek, with the sale of non-core assets and a decrease in the number of employees, the wages of the main production personnel should increase significantly. In addition, programs will be developed that will attract qualified personnel and make the railway attractive to young people.
The net profit of First Ukrainian International Bank (FUIB, Kyiv) in January-September 2019 totaled UAH 1.994 billion, which is 36.8% more than a year ago (UAH 1.458 billion), according to quarterly financial statements of the bank posted on its website on Thursday.
The net profit in Q3 2019 amounted to UAH 728.905 million, which is 60.1% more than a year ago.
Net interest income in January-September 2019 increased 31% compared to the corresponding period of 2018, to UAH 3.884 billion.
The bank’s assets in January-September 2019 increased 3.2%, to UAH 51.444 billion, including loans issued to customers by 12.8%, to UAH 30.727 billion.
Bank liabilities from the beginning of the year decreased 1.2%, to UAH 43.029 billion.
The bank’s net worth for this period increased 33.1%, to UAH 8.415 billion. The charter capital remained at the level of UAH 3.294 billion.
FUIB was founded in 1991. The substantial shareholder in the bank is Rinat Akhmetov (99.9% indirectly).
According to the National Bank of Ukraine (NBU), as of July 1, 2019, FUIB ranked eighth (UAH 59.858 billion) in terms of total assets among 76 banks operating in the country.
