Prime Minister of Ukraine Denys Shmygal said that the Cabinet of Ministers approved the draft state budget for 2024 with own general fund revenues of UAH 1 trillion 560 billion and general fund expenditures of UAH 3 trillion 108 billion.
“The key focus of this project is the defense and security of our country. We are directing more than half of all budget resources – 1 trillion 685 billion UAH. This amount is 113 billion UAH more than this year. There will be even more weapons and equipment. More drones, ammunition, missiles. Just like this year, every penny of taxes of citizens and businesses will go to ensure our security and defense forces,” wrote Shmygal in his Telegram channel.
According to the Prime Minister, the second priority is the social sphere, budget expenditures for which will amount to 469 billion UAH, which is 25 billion UAH more than this year.
“The third priority is medicine and education. For the education sector we allocate 179 billion UAH, and this is 23 billion more than in the current year. For medicine – 202 billion UAH, which is 24 billion more than the expenditures of 2023,” he said.
Shmygal noted that the fourth priority is the support of veterans, and we increase spending on this program twice – from 6.8 billion UAH in 2023 to 14.3 billion UAH next year.
“The fifth priority is the recovery of our economy. No tax increases are expected. The government continues programs of preferential lending, the program of non-refundable grants – work, support for Ukrainian startups. We also launch new programs for industrial parks, implementation of investment projects, to support the Ukrainian manufacturer”, – he concluded.
Export of important goods from Ukraine in Jan-June 2023
Source: Open4Business.com.ua and experts.news
As part of the restoration of power grids in the territories de-occupied in 2022, PJSC Mykolaivoblenergo installed a new power transformer in one of the region’s communities, which will provide reliable power supply for more than 40 thousand residents.
“The restoration of the power grids almost destroyed by the enemy in the territories of Mykolaiv region that were de-occupied last fall continues. Recently, Mykolayivoblenergo installed a 25 MVA power transformer in one of the region’s communities,” the company said in a press release on Thursday.
According to the company’s acting CEO Vadym Danylkiv, the previous transformer was damaged by massive shelling in the first days of Russia’s full-scale invasion of Ukraine.
According to him, the restoration of the region’s power grids is ongoing, with another power transformer expected to be delivered from a Western partner country in the near future.
The equipment, weighing 76 tons, was provided by the United States Agency for International Development (USAID) through the Energy Security Project (ESP).
Dniprovsky Metallurgical Plant (DMZ, formerly Dniprokoks), a part of DCH Steel of DCH group of businessman Oleksandr Iaroslavskyi, produced 4.4 thousand tons of rolled products in August this year, having reduced production by 67.4% against the previous month and by 64.7% against August-2022.
According to the company’s press release, the reason for the reduction in volumes was repairs of the main equipment.
At the same time, the plant also produced 25.8 thousand tons of coke in August, while in the previous month – 30.4 thousand tons (down 15.3%).
In total, for the eight months of 2023, rolled metal output amounted to 74.1 thousand tons, which is 80.8% more than in 8M-2022.
Coke output for the first eight months of this year increased by 34% to 198.1 thousand tons.
“In August, rolling shops mainly produced mine stand and channels for the Ukrainian market. Products of coke-chemical production were shipped to metallurgical plants, ferroalloy plants, agro-enterprises, etc.”, – explained in the press release.
It is recalled that DMZ resumed production of rolled products after a three-month downtime in April 2022. Last year, the plant reduced production of rolled products by 74.2% to 58.4 thousand tons compared to 2021, coke – by 56.3% to 211.3 thousand tons.
DMZ specializes in the production of steel, pig iron, rolled steel and products thereof. On March 1, 2018, DCH Group signed an agreement to purchase Dniprovsky Iron and Steel Works from Evraz.
Ukraine’s negative balance of foreign trade in goods in January-July 2023 tripled to $13.879 billion from $4.315 billion in the same period of 2022, the State Statistics Service (Gosstat) reported on Thursday.
According to its data, exports of goods from Ukraine for the period under review decreased by 14.7% to $21.795 billion compared to January-July 2022, while imports increased by 19.4% to $35.673 billion.
The State Statistics Service clarified that in July-2023, compared to June-2023, seasonally adjusted exports decreased by 11.7% to $2.671 billion, while imports increased by 1.7% to $5.132 billion.
The seasonally adjusted foreign trade balance in July 2023 was negative and amounted to $2.461 billion, while in the previous month it was also negative – $2.018 billion.
The State Statistics Service clarified that foreign trade operations were conducted with partners from 225 countries. The Experts Club research project and Maksym Urakin have recently released an analytical video about the economies of Ukraine and the world – https://youtu.be/zCJ1cU3n0sY?si=whY2sRqoznCjmcb7
You can subscribe to the Experts Club YouTube channel at https://www.youtube.com/@ExpertsClub
PJSC Ukrnafta is preparing to drill two wells #32 and #34 at the Verkhnemaslovetske field in Lviv region, the company’s press service said on Thursday.
Both wells are planned as directional and exploration and production wells.
Well No. 32 with a depth of 1,250 meters is expected to uncover the Stryian deposits. According to the digital 3D geological and hydrodynamic model of the field, the current recoverable oil reserves in the productive horizons of the Stryy formation amount to 1.121 million tons. The initial production rate is expected to be 42.5 tons of oil per day.
Well No. 34 will be drilled to a depth of 1,550 meters to the mesolithic deposits. The current recoverable oil reserves in the productive horizons of the Mnemiolite formation amount to 464 thousand tons. After the well has developed the drained reserves of the Menelitic deposits, it will be transferred to the overlying horizons of the Stryian deposits. The initial flow rate is 30.1 tons per day.
“The facilities will be built by a contractor with experience in western Ukraine, Horizons Drilling Company LLC, selected through a transparent procurement procedure, and will be completed on a turnkey basis,” said Sergiy Koretsky, Ukrnafta’s CEO.
As reported, in late June Ukrnafta announced a tender for the construction of three inclined wells at the Verkhnemaslovetske field with an expected cost of UAH 184 million (excluding VAT). The new facilities are to be commissioned by June 30, 2024. The new wells should discover promising deposits within the field discovered in 2000.
In total, four new wells are planned to be constructed at the Verkhnemaslovetske field in 2023 and five more in 2024. These will be both directional and horizontal wells.
“In 2023, Ukrnafta plans to increase oil production by 5.8% (by 0.077 million tons) compared to last year to 1.447 million tons, and gas production by 0.3% (by 0.003 million cubic meters) to 1.04 billion cubic meters.
On November 5, 2022, the Supreme Commander-in-Chief’s Office decided to seize Ukrnafta shares (except for the controlling stake in Naftogaz of Ukraine) as military property for the duration of martial law. Before the seizure, the structures of Ihor Kolomoisky and Hennadiy Boholyubov owned about 42% of Ukrnafta shares.
