The EU intends to provide Ukraine with EUR 20 million of financial support for the digital transformation development, Deputy Prime Minister, Minister of Digital Transformation Mykhailo Fedorov said.
“EUR 9.6 million is the first financial contribution that Ukraine will receive under the EU4DigitalUA project. The Estonia’s e-Governance Academy and the Spanish foundation FIIAPP Spain will help in the implementation of projects on electronic services, cybersecurity, data protection, and the development of registries,” Fedorov wrote on the Facebook.
He wrote that funding will also cover: development of infrastructure for electronic government; modernization of public e-services and development of services on the Diia (Action) portal and in the Dia app; visualization of information about access to broadband Internet in Ukraine; further connection of the main registers to the Trembita data exchange system; development of a national personal identifier, a state digital identity card and a register registration addresses of citizens; development of trust services.
“Support of digitalization in Ukraine is at the same time support of all key reforms and anti-corruption. The country will receive more qualitative changes. We are grateful to the EU for their trust and we act together,” Fedorov wrote.
National bank of Ukraine’s official rates as of 25/11/20
Source: National Bank of Ukraine
Official rates of banking metals from national bank as of November 25
One troy ounce=31.10 grams
Foreign trade turnover by the most important positions in Jan-Aug 2020 (export).
Ukraine expects to receive more than 8 million doses of the future vaccine against the coronavirus disease COVID-19, Ukrainian President Volodymyr Zelensky said in his vlog.
“The Ministry of Health has held a conversation with representatives of COVAX. This is an initiative for the global access of countries to the vaccine against coronavirus. A phased plan for the supply of the future vaccine in Ukraine has been determined. The first stage is 1.2 million doses. In general, Ukraine expects to receive more than 8 million doses of the future vaccine,” the head of state noted.
According to him, priority in vaccinations will be given to medical workers, military personnel, teachers, people at risk, in particular people over 60 years old.
“We are also increasing the number of daily tests, including free tests through mobile teams. We are working to ensure a sufficient number of beds and oxygen in each region, as well as strengthening control over compliance with quarantine measures,” Zelensky said.
Analysts at BofA Securities, which expected the Ukrainian economy to fall by 6.8% in 2020, lowered their forecast to 5.2%, while the forecast for the country’s economic recovery in 2021 fell to 4.5% versus the previous forecast of 6.5%.
The weaker-than-expected economic downturn in 2020 also diminishes the base effect for a 2021 recovery, despite the current strong momentum for a recovery in consumer demand, as well as a record low borrowing cost since the 2020 easing cycle, BofA Securities said in a review issued on November 24.
A sustained recovery in consumer activity amid an extremely strong base effect could push inflation above the 5% ± 1 pp target range in the second-third quarters of 2021, which, according to analysts, could force the NBU to raise the key policy rate by about 100 bp in the second half of the coming year.
At the same time, it is predicted that the key policy rate may return to a decline in 2022, as soon as inflationary pressures stabilize.
According to the analysts, in 2021, Ukraine is likely to receive another one or two tranches under the IMF program, including the deferred tranche of 2020. An important condition for them is the restoration and stabilization of anti-corruption institutions, including a possible complete reshuffle in the Constitutional Court, which may take several more months.
According to the review, the attractive yield on Ukrainian government bonds is noted, while the exchange rate remains the main problem for offshore investors.
The analysts said that Ukraine has decent upside potential, dependent on the hryvnia, which is now largely undervalued, but they noted that domestic politics remains a key risk.
