Business news from Ukraine

Business news from Ukraine

Roshen has closed factory in Hungary

Roshen Corporation has suspended production at the Bonbonetti confectionery factory in Budapest (Hungary), this is the second closed site of the company in this country, Forbes Ukraina reported.
“The factory has not been producing since April 2023,” explained Roshen executive director Alexander Golovashchuk.
According to his information, Roshen produced almost 10 times less in Hungary in 2023 than when it started operations. Bonbonetti’s revenue, according to the Hungarian directory Opten, amounted to EUR3.3-3.5 million. As a consequence, the Budapest factory was closed due to unprofitability of production. The capacity available at Bonbonetti did not allow to cover the costs.
The factory was founded in 1868 and last modernized in the 1930s. It was impossible to expand production at the site because the enterprise is located in a dense building, Golovashchuk explained.
He added that some of Bonbonetti’s equipment was moved to the Vinnytsia Confectionery Factory, and some was utilized.
Roshen Corporation, according to information on its website, ranks 27th among the largest confectionery producers in the world. It includes Kiev, Kremenchug, two Vinnitsa confectionery factories and Vinnitsa dairy plant, Biscuit complex in Borispol (Ukraine); Klaipeda confectionery factory (Lithuania) and Bonbonetti Choco factory (Hungary). The production activities of the Lipetsk factory (Russian Federation) have been halted since April 1, 2017.
The Corporation produces about 320 types of confectionery products. The total production volume is about 300 thousand tons of products per year.
The network of Roshen branded stores in Ukraine has about 70 stores in different regions of the country. The first one opened in 2009 in Kiev.
In 2022, PJSC “Kiev Confectionery Factory ‘Roshen’ received 984 thousand UAH of net loss compared to 25.779 million UAH of profit a year earlier, the company’s revenue decreased from 979.286 million UAH to 903.195 million UAH.
The ultimate beneficiary of the company is the son of former Ukrainian President Petro Poroshenko, Oleksiy.

 

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Ukraine’s public debt to GDP ratio from 2009 to 2023 (UAH mln)

Ukraine’s public debt to GDP ratio from 2009 to 2023 (UAH mln)

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Internal and external debt of Ukraine in 2010-2024

Internal and external debt of Ukraine in 2010-2024

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The U.S. population in 2024 grew at its highest rate in 23 years, to more than 340 million

The U.S. population in 2024 grew by nearly 1%, the highest rate since 2021, the U.S. Census Bureau reported.
The number of residents of the country this year exceeded 340 million people.
The most significant growth traditionally showed the southern states – 1.8 million people (more than the rest of the regions combined). Including in Texas the population grew by about 563 thousand people, in Florida – by 467 thousand people.
The District of Columbia showed the most significant growth rate in percentage terms, at 2.2%.
The net inflow of immigrants to the country amounted to almost 2.8 million people. Such a high figure is partly due to a change in the methodology of calculation (now it includes persons admitted to the U.S. for humanitarian reasons).
At the same time, immigration fully provided population growth in 16 states, where in its absence there would have been a decline, the Associated Press quotes the words of Brookings Institution demographer William Frey.
In three states – Mississippi, Vermont and West Virginia – the population declined, albeit slightly.
The number of new births in the U.S. in 2024 exceeded the number of deaths by nearly 519,000.

 

No precipitation in Ukraine on Monday-Tuesday

On Monday, December 30, in Ukraine without significant precipitation. In the western and Vinnitsa regions at night and in the morning fog, reported Ukrhydrometcenter.
The wind is predominantly southwesterly, 7-12 m/s.
The temperature at night from 2° warm to 3° frost, during the day 0-5° warm; in the Carpathians at night 3-8° frost, during the day about 0°.
In Kiev on Monday without significant precipitation. The wind is predominantly southwesterly, 7-12 m/s. The temperature at night 0-2° warm, during the day 2-4° warm.
According to the Central Geophysical Observatory named after Boris Sreznevsky. Borys Sreznevsky in Kiev on December 30, the highest daytime temperature was 10.5 in 2023, the lowest nighttime temperature was -26.3 in 1895.
Tuesday, December 31, in Ukraine without precipitation.
The wind is west, southwest, 7-12 m/s.
The temperature at night from 2° warm to 3° frost, during the day 0-5° warm, in the southern part 3-8° warm.
In Kiev on December 31 without precipitation. The wind is west, southwest, 7-12 m/s. The temperature at night 0-2° warm; in the daytime 2-4° warm.

 

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Forecast of changes in discount rate of National bank of Ukraine, %

Forecast of changes in discount rate of National bank of Ukraine, %

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