According to preliminary calculations, Kyiv city budget will lose one third of its revenues, i.e. more than UAH 20 billion, because of the Russian aggression, according to the press service of mayor of the Ukrainian capital Vitali Klitschko.
He noted that today it is impossible to calculate this amount accurately because the war is still going on. “It is not quite correct to make monthly calculations because the budget is envisaged for one year. In general for 2022 we, according to preliminary calculations, will receive a third of the budget shortfall. That is more than UAH 20 billion. But, I emphasize, that these are preliminary estimates,” Klitschko said on the air of radio NV.
The mayor noted that at present the city’s economy is slowly coming back to life, businesses are coming back to work. Also, the percentage of payment for utility services provided is growing in the capital.
“For example, 55% of Kyiv citizens paid for utilities for March. And I am very grateful to them for that since these funds were spent for the necessary materials. They were spent on salaries to employees of enterprises, who, often risking their lives, provide the city with all services,” said Klitschko.
The G7 countries have committed themselves to phase out or ban the import of Russian oil, according to a statement posted on the White House website on Sunday.
“This will hit the main artery of Putin’s economy hard and deprive him of the income he needs to finance the war. The G7 also committed to working together to secure stable global energy supplies while stepping up our efforts to reduce dependence on fossil fuels.
Main trade partners of Ukraine in % from total volume (export from Ukraine to other countries) in 2021
SSC of Ukraine
Foreign trade turnover by the most important positions 2021 (import)
SSC of Ukraine
Interest rates on nbu’s active and passive operations set for May 9
ãSource: National Bank of Ukraine
The Refinancing Rate is a rate at which the NBU provides loans to commercial banks for replenishment of their monetary reserves and lending funds
President of Ukraine Volodymyr Zelensky will take part in a virtual meeting of G7 leaders on Sunday, May 8, where they will discuss Russia’s military invasion of Ukraine.
The date of the meeting was chosen on purpose, and on May 9, US President Joseph Biden will sign the Lend-Lease Act, the US administration said.
“On Sunday morning, President Biden will participate in a virtual meeting of G7 leaders chaired by German Chancellor Scholz. Ukrainian President Zelensky will join the leaders. They will discuss the latest developments in Russia’s war against Ukraine, the global implications of Putin’s war, demonstrate support for Ukraine and the future of Ukraine, and will demonstrate the continued unity of the G7 and our collective response, including ramping up our unprecedented sanctions…,” White House Press Secretary Jen Psaki said at a briefing on Friday.
She indicated that Biden will sign the Lend-Lease Act of 2022 on Monday, May 9.
“Well, I think one should not lose sight of … the meaning of the schedule is … when this G7 meeting will take place, which is the day before Victory Day in Russia, which Putin wanted to mark as the day of victory over Ukraine. Of course, this is not so. Although he expected to march through the streets of Kyiv, this is clearly not going to happen,” Psaki said.
“But, of course, this meeting and conversation on Sunday is an opportunity not only to show how united the West is in confronting the aggression and invasion of President Putin, but also to show that unity requires work; it requires effort; it requires blood, sweat and sometimes tears. And President Biden is determined to keep working to keep the people united – to keep these leaders united as they move forward,” the White House press secretary added.
She also clarified that on May 10, Biden will receive Italian President Mario Draghi, and support for Ukraine will also be discussed at this meeting.
