Ukrainian President Volodymyr Zelensky said that both Israel and Palestine have been invited by the Ukrainian side to the Peace Summit to be held on June 15-16 in Switzerland.
“We have no double standards. That is why, despite – whether someone likes it or not, we invited both Palestine and Israel to the Peace Summit. And representatives of the Global South. We have invited all countries to our Summit. We are ready to hear all thoughts, ready to talk to them all,” Zelensky said while speaking to the media on the margins of the Dialogue – Shangri-La conference in Singapore on Sunday.
Among the uninvited countries, the president noted, is only Russia.
“And not just because they are aggressors. Although that is point number 1. Point number 2 is that we had summits with Russia as, for example, within the Normandy format, after which they did not fulfill the agreements and continued to kill us and block processes, including the ceasefire,” he said.
Earlier, as part of his speech at the Dialogue – Shangri La conference in Singapore, Ukrainian President Volodymyr Zelensky called for an objective assessment of Ukraine’s position on the situation in the Gaza Strip, stressing that Ukraine is a just country that respects international law and the UN charter and recognizes two states – both Israel and Palestine.
Number of unemployed people registered in public employment service as of 31.03.2024 (in thousands)
Source: Open4Business.com.ua and experts.news
As of May 30, Ukraine sowed 5.5 million hectares with grains and legumes, and more than 7 million hectares with oilseeds, which is 98.3% of the forecast, the press service of the Ministry of Agrarian Policy and Food reported on Friday.
According to the report, 252.5 thousand hectares were planted with wheat (249 thousand hectares a week earlier), which is 102.6% of the plan, barley – 782.2 thousand hectares (781.6 thousand hectares) or 95.6%, peas – 162.5 thousand hectares (162.1 thousand hectares) or 95.6%, peas – 162.5 thousand hectares (162.1 thousand hectares) or 95.6%. or 95.6%, peas – 162.5 thou hectares (162.1 thou hectares) or 95.6%. hectares (162.1 thou hectares) or 101.6%, oats – 163.7 thou hectares (162.7 thou hectares) or 100.7%, millet – 60 thou hectares (43.1 thou hectares) or 70%, buckwheat – 85.5 thou hectares (48.1 thou hectares) or 68%, corn – 3.809 million hectares.
According to the report, wheat was planted on 252.5 thou hectares, which corresponds to the previous week’s figure and is 102.6% of the plan, barley – 782.6 thou hectares (782.2 thou hectares) or 95.7%, peas – 162.5 thou hectares (101.6%), oats – 163.7 thou hectares (100.7%). The total area under wheat planted is 63.6 thou hectares (60 thou hectares), or 75%, buckwheat – 97.7 thou hectares (85.5 thou hectares), or 78%, corn – 3.895 mln ha (3.809 mln ha), or 100% of the plan, other grains and legumes – 87.3 thou hectares (84.4 thou hectares), or 94% of the plan.
Last week, the agrarians sowed 104.8 thou hectares of spring crops. A week earlier, this figure was 311.7 thou hectares, and 784.7 thou hectares the week before.
In addition, sunflower was sown on 5.124 mln ha, or 97% of the plan (a week earlier the figure was 4.958 mln ha), soybeans – on 1.932 mln ha, or 97% (1.83 mln ha), sugar beets – on 250.1 thou ha, or 97%.
Agrarians in Vinnytsia, Volyn, Kirovograd, Odesa, Poltava, Ternopil, Ivano-Frankivsk and Zakarpattia regions have fully completed sowing of spring crops.
In 2024, state-owned Ukrgasbank (Kyiv) provided UAH 40 million in loans to farmers working in high-risk military areas, up from UAH 120 million a year earlier, said Tetyana Korinenko, director of the Small and Medium Business Department.
“Of course, a client who wants to get a loan must meet the bank’s requirements. A very negative factor for a significant share of clients who would like to receive financing is (requirement – IF-U) to be located in a safe territory. We also have requirements that the client must operate in an area no more than 50 km from the front line. But we also have cases using guarantee instruments provided by the state in the form of a guarantee from the Cabinet of Ministers and the Partial Guarantee Fund. We have already come closer to 22 km to the front line,” she said at Grain Ukraine in Kyiv on Friday.
According to Kornienko, Ukrgasbank has four clients from the agricultural sector in Kherson region who received loans to operate within a 30-kilometer zone from the military operations. In their case, state guarantee instruments cover 50-80% of the loan issued by the bank.
“This is a cool tool that allows us to help clients from the agricultural sector who work as close as possible to the area of active military operations,” the expert said.
Kornienko clarified that in 2024, Ukrgasbank lent about UAH 40 million to farmers working in the high military risk zone. A year earlier, this figure was 120 million.
“Of course, this is not much compared to our annual UAH 5 billion loans to the agricultural sector. But with each such client, we understand that we are giving the market an impetus, showing that it is possible to work in this way. It is also possible to have credit relations with such clients. And this risk is acceptable thanks to government instruments,” summarized the Ukrgasbank representative.
JSB “Ukrgasbank” was established in 1993. The state, represented by the Ministry of Finance, owns 94.9409% of the financial institution’s shares.
The international chain JYSK plans to open two new stores in Odesa this year, according to JYSK Country Director in Ukraine Yevhen Ivanitsa.
“Odesa, Arcadia, Rodos shopping center. This is where the seventh JYSK store in the southern capital of Ukraine will open in the fall. Currently, there are five JYSK stores in Odesa. The sixth JYSK will open in the summer in the Mercury shopping center,” he said on Linkedin.
Currently, there are 95 stores and the online store jysk.ua in Ukraine. The plan is to reach 100 stores by the end of 2024.
JYSK has more than 800 employees in the country.
JYSK is part of the family-owned Lars Larsen Group with more than 3.4 thousand stores in 48 countries.
JYSK’s revenue in the financial year 2022/23 amounted to EUR 5.2 billion.
Receipts of taxes, fees and mandatory payments to the general fund of the state budget of Ukraine, according to operational data, amounted to UAH 151.6 billion in May, compared to UAH 154.6 billion in April and UAH 164.3 billion in March, such operational data (as of 16:00 on May 31) reported the Ministry of Finance on its website.
According to its data, in May, through the State Tax Service revenues recovered to 99.8 billion UAH from 59.7 billion UAH in April, which is slightly less than 105.7 billion UAH in March.
It is specified that in May, income tax revenues increased to UAH 42.0 billion after falling to UAH 3.2 billion in April, partially offset by a one-time transfer of UAH 38.64 billion of profits by the National Bank. As reported, in March and February, income tax brought over UAH 60 bln monthly to the state budget, but part of it was paid in advance.
As for other taxes, personal income tax and military levy increased to UAH 17.3 billion (UAH 16.5 billion) in May, rent tax increased to UAH 5.8 billion (UAH 5.5 billion), and excise tax decreased slightly to UAH 11.4 billion (UAH 11.5 billion).
Value-added tax also fell to UAH 20.2 billion (UAH 22.8 billion): UAH 32.8 billion (UAH 34.8 billion) was collected and UAH 12.7 billion (UAH 12.0 billion) was refunded.
Receipts from the State Customs Service increased in May slightly decreased to UAH 48.4 billion from UAH 48.9 billion in April.
The Ministry of Finance pointed out that the monthly revenue estimates for the general fund of the state budget, according to operational data, were exceeded by 8.6% (+12.0 billion UAH), including by the State Tax Service – by 6.6% (+6.2 billion UAH), while the State Customs Service – by 12.1% (+5.2 billion UAH).
At the same time, there were no receipts to the general fund of the state budget of international aid in the form of grants, while in April they amounted to UAH 2.7 billion, in March – UAH 3.1 billion.
“In general, according to operational data, at the end of May 2024, the general and special funds of the state budget received 227.4 billion UAH (in April – 200.8 billion UAH, in March – 225.9 billion UAH) of taxes, fees and other payments. In addition, about UAH 42.0 billion (in April – UAH 40.1 billion) in the form of ERUs was received by the Pension Fund and social insurance funds,” the ministry added, thanking taxpayers for their contribution to the support of the Ukrainian army and financial stability of the country.
Data on expenditures in May are not yet available.
As reported, the Verkhovna Rada adopted the state budget for 2024 with a deficit of UAH 1.57 trillion, or 20.6% of projected GDP. Revenues of the state budget-2024 are set at UAH 1.77 trillion (not taking into account possible grant aid), expenditures – UAH 3.36 trillion at an average annual exchange rate of UAH 40.7/$1.
State budget-2023 revenues amounted to UAH 2.67 trillion, of which grant aid amounted to UAH 0.43 trillion. Cash expenditures of the state budget last year exceeded UAH 4 trillion, while the deficit amounted to UAH 1.33 trillion at an average annual exchange rate of about UAH 36.6/$1.
In late May, Finance Minister Serhiy Marchenko estimated the need for additional military expenditures in the 2024 state budget at $5 bln, while according to the head of the parliamentary committee on finance, tax and customs policy Daniil Getmantsev, “expert estimates that the actual gap is at least twice as large as the current estimate of UAH 200 bln ($5 bln) are not far from the truth”.
In this regard, the possibility of raising the military levy and value-added tax, as well as a number of excise taxes, is being considered.
Earlier Experts Club analytical center and Maxim Urakin released a video analysis on macroeconomics in Ukraine and in the world, more video analysis is available here.
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