Business news from Ukraine

Business news from Ukraine

Ukraine can raise EUR 200 mln in grants from France for infrastructure reconstruction

The Cabinet of Ministers of Ukraine has approved attracting EUR200 million in grants from France for the reconstruction and restoration of critical infrastructure.

According to Taras Melnychuk, a representative of the Cabinet of Ministers in the Verkhovna Rada, who posted on Telegram, the decision taken at a government meeting on Tuesday approved a draft grant agreement between the governments of Ukraine and France to help restore and maintain critical infrastructure and priority sectors of Ukraine’s economy.

The agreement provides for the attraction of grant funds from the French government in the amount of EUR 200 million. They will be used to reconstruct and restore critical infrastructure in sectors such as healthcare, infrastructure, energy, agriculture, water supply and sanitation, waste management, demining, and digital technologies.

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Ukraine increased copper imports in 2023 by 2.2 times

Ukrainian companies in 2023 increased imports of copper and copper products in value terms by 2.2 times compared to 2022 – up to $140.795 million.
According to customs statistics released by the State Customs Service of Ukraine, exports of copper and copper products for this period decreased by 20.1% to $72.078 million.
In December, $20.856m worth of copper was imported and $6.906m was exported.
As reported, Ukrainian companies in 2022 reduced imports of copper and copper products in value terms by 64.3% year-on-year to $65.370 million, while their exports decreased by 56.3% to $90.245 million.

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Polish farmers will block all border crossings between Poland and Ukraine on February 20

Polish farmers will block all border crossings as well as transport hubs between Poland and Ukraine from February 20, RMF FM writes.

“Not only border crossings will be blocked, but also transport hubs, access roads to railway transshipment stations and seaports,” a communiqué from the Solidarity farmers’ union said, as quoted by Poland’s RMF FM.

Earlier, on February 9, Solidarity announced a 30-day general strike by farmers.

Polish agrarians say they are protesting against the uncontrolled influx of goods from Ukraine into Poland due to the opening of borders by the European Union. It is pointed out that “the lack of regulation calls into question the profitability of agricultural production, processing and other agriculture-related industries.”

“Therefore, for February 20, as part of the 30-day general strike of farmers, we announce that all protests will be aimed at a complete blockade of all Polish border crossings with Ukraine and protests on the ground,” the farmers told Solidarity.

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“Naftogaz” paid UAH 6.1 bln in taxes in January

In January 2024, Naftogaz Group companies paid UAH 5.6 billion in taxes to the state budget of Ukraine.

“8.5% of all tax revenues to the state budget of Ukraine in January 2024 are taxes paid by Naftogaz Group. We are talking about the amount of UAH 5.6 billion,” the group said on its website on Tuesday.

Another UAH 0.5 billion was transferred to local budgets.

“Naftogaz Group remains one of the largest taxpayers in Ukraine and a reliable support for the state budget. In total, over 31 days of January 2024, we have already paid UAH 6.1 billion in taxes to the country’s consolidated budget,” the group’s CEO Oleksiy Chernyshev said as quoted on the website.

As reported, in 2023, Naftogaz Group companies paid UAH 90.2 billion in taxes, UAH 83.4 billion of which went to the state budget and UAH 6.8 billion to local budgets.

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Ukraine increased pig iron production by 42% in January

Ukrainian metallurgical enterprises increased pig iron production by 41.5% to 555 thousand tons from 384 thousand tons in January this year.

As reported, Ukraine increased pig iron production by 6.1% to 6.003 million tons in 2023.

In 2022, Ukraine reduced pig iron production by 69.8% to 6.391 million tons.

In 2021, the company produced 21.165 million tons of pig iron (103.6% compared to 2020), 21.366 million tons of steel (103.6%), and 19.079 million tons of rolled products (103.5%).

Ukraine almost doubled steel production in January

According to Ukrmetallurgprom, Ukrainian metallurgical enterprises increased steel production by 91.6% in January this year, up to 544 thousand tons from 284 thousand tons in January 2023.

As reported, in 2023, Ukraine increased production of total rolled products by 0.4% compared to 2022 to 5.372 million tons, but reduced steel production by 0.6% to 6.228 million tons.

Ukraine reduced steel production by 70.7% in 2022. In 2021, 21.366 million tons of steel were produced (103.6%).