Prime Minister Denys Shmyhal believes that the state budget for 2025 adopted by the Verkhovna Rada clearly defines priorities in the context of limited resources.
“Given the limited resources, this budget clearly defines priorities. Defense, security, support for people, development and restoration of the country. This is all that makes us stronger and leads to victory,” Shmyhal wrote on his telegram channel after the Verkhovna Rada adopted the budget in the second reading and in general.
According to the Prime Minister, all taxes of citizens and businesses next year will be directed to the defense and security of the country.
“The total resource allocated to the security and defense sector will amount to UAH 2.23 trillion. Record funds will be allocated for the production and purchase of weapons. UAH 739 billion is provided for this purpose. There will be more funding for the modernization of our defense industry, as well as for the purchase of drones,” he said.
Shmyhal noted that the second priority of the budget is to support citizens, in particular, almost UAH 421 billion is provided for social assistance programs.
“Expenditures on education will amount to about UAH 199 billion, and on healthcare – UAH 217 billion. Important modernization and development projects are planned in both regions. UAH 10.7 billion is allocated to upgrade medical facilities, purchase modern equipment, and create rehabilitation centers. An additional UAH 17.5 billion has been allocated for the modernization of educational institutions and the construction of shelters,” he added.
Among other things, Shmyhal noted that in 2025 the resources of local budgets will increase by 15%.
As of November 18, Ukraine exported 16.431 mln tonnes of grains and pulses since the beginning of 2024/25 marketing year (MY, July-2023-June-2024), of which 2.032 mln tonnes were shipped this month, the press service of the Ministry of Agrarian Policy and Food reported citing the State Customs Service.
According to a report on the Ministry’s website, as of the same date last year, the total figure for shipments abroad was 12.033 million tons, including 2.793 million tons in November.
In terms of crops, since the beginning of the current season, Ukraine has exported 8.351 million tons of wheat (610 thousand tons in November), 1.74 million tons of barley (41 thousand tons), 10.8 thousand tons of rye (0.2 thousand tons), and 6.048 million tons of corn (1.367 million tons).
The total export of Ukrainian flour since the beginning of the season as of November 18 is estimated at 28.9 thsd tonnes (3.3 thsd tonnes in November), including 26.2 thsd tonnes of wheat (2.8 thsd tonnes).
Velta Group of companies with titanium ore mining assets in Novomyrhorod (Kirovograd region) produced 71 thousand tons of ilmenite in January-September 2024, while 104 thousand tons of this product were produced in the same period last year (down 31.7%).
“The reasons for the decline are obvious. The first one I would mention is the electricity supply, namely the price increase. Previously, electricity was in third place in the cost of production, but now it has confidently moved to the first position. If we talk about the period of 9 months of last year and this year, the growth was 35% and even more, since the price fluctuates from month to month, the maximum difference is 93%! Of course, this is compounded by limited supplies,” explained Andriy Brodsky, CEO and co-owner of the company, in response to an inquiry from Interfax-Ukraine.
According to him, logistics also continues to be a challenge, affecting production costs and hindering development. In addition, there is a critical situation with personnel: despite the fact that our titanium complex is recognized as critical, 15% of the staff serve in the Armed Forces.
“And if these problems have conditionally arisen since the beginning of the war, the government is adding new ones – increasing taxes. So far, I have heard from business colleagues that there is a strict link between tax payments and the status of a critical enterprise. If you don’t pay the increased taxes on time, your company immediately loses its status, and your employees lose their reservations and quickly receive summonses. I would say that now is the time for Ukrainian businessmen to make a choice without a choice,” the CEO believes.
As reported, Velta produced 25.409 thousand tons of ilmenite in 1Q2024.
Velta was registered in April 2000. The main activity is the extraction and production of ilmenite concentrate.
Velta Holding LLC owns 100% of Velta PCF LLC. The ultimate beneficiaries are three individuals: Andrii Brodskyi (60%), Vadym Moskalenko (20%) and Vitalii Malakhov (20%).
Trypillia Packaging Plant (TPK, Ukrainka, Kyiv region), a subsidiary of the shutdown Rubizhne Cardboard and Packaging Plant, which stopped operations in Luhansk region, increased its corrugated packaging output by 19.9% in January-October 2024 compared to the same period in 2023, to 140.25 million square meters.
According to Ukrpapir statistics provided to Interfax-Ukraine, the plant is now the second largest producer of corrugated packaging after Kyiv Cardboard and Paper Mill (187.9 million square meters) and has grown by almost 20%.
According to the association, in October, TPK increased its corrugated packaging production by 21.4% year-on-year and by 15.3% year-on-year to 16.6 million square meters.
In monetary terms, the TPC’s production volume in January-October increased by 12.7% to UAH 2 billion 276 million.
The main companies in the industry that provided data to Ukrpapir Association increased their production of cardboard boxes by 15.1% to 490 million square meters during this period.
Earlier it was reported that before Russia’s full-scale invasion of Ukraine, Rubizhne Pulp and Paper Mill, together with TPK, was the leading producer of corrugated packaging in Ukraine.
After the destruction in Rubizhne, the plant shut down, and the legal entity Rubizhne CPP was re-registered in Kyiv.
TPK produces a wide range of corrugated cardboard products for food, industrial goods, and chemicals. Among its customers are Roshen, Coca-Cola, MHP agricultural holding, and Lactalis Group.
In 2023, the plant increased its commercial output by 13.7% compared to 2022, to UAH 2 billion 480 million, while corrugated packaging production increased by 18% to 145.8 million square meters.
Global coffee exports in the 2023/24 marketing season (October-September) increased by 11.7% to 137.27 million bags (60 kg each), according to a report by the International Coffee Organization (ICO).
In particular, shipments of green (unroasted) coffee increased by 11.8% to 123.75 million bags.
Among the macro-regions, South America retains its position as the largest exporter of coffee, which in 2023/24 season increased shipments by 30.7% to 66.13 million bags. In particular, Brazil recorded a record figure of coffee shipments of 49.03 million bags.
Sales of coffee from Asia and Oceania decreased by 6.7% (to 40.62 mln bags) in the season that ended, while Africa increased its supplies by 17.3% (to 16.02 mln bags).
Russian gas producer Gazprom (GAZP.MM), opens new tab said it would send 42.4 million cubic metres of gas to Europe via Ukraine on Tuesday, the same volume as on Monday, while nominations for gas flows to Austria from Slovakia edged up.
The European energy markets have been on edge over a contractual row between Gazprom and Austria’s OMV (OMVV.VI), opens new tab, which led to the Kremlin-controlled firm halting supply to the Vienna-based company on Saturday.
The flows to OMV were stopped after it threatened to impound some of Gazprom’s gas as compensation for an arbitration it had won over the contractual dispute.
Daily flows to Europe via Ukraine have remained around normal levels, however, and gas has continued to flow into Austria.
Nominations, or requests from customers, for flows to Austria from Slovakia were up 6% on Tuesday versus Monday but remained about 12% below levels seen before Gazprom halted supply to OMV.
It was not clear who was buying gas previously intended for OMV.
Nominations to the Czech Republic from Slovakia were roughly in line with levels seen in previous days this month.
Nominations for flows into Slovakia from Ukraine were also little changed while nominations for flows leaving Slovakia were mostly stable, data from transmission system operator Eustream showed.
