Business news from Ukraine

Business news from Ukraine

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Ukraine’s 2024 budget envisages raising minimum wage to UAH 7100 from January 1

The minimum wage in Ukraine may be raised to UAH 7100 from January 1, 2024, and from July 1 – to UAH 8000 per month from the current UAH 6,700 per month, First Deputy Finance Minister Denis Ulyutin said at an online meeting with all-Ukrainian associations of local governments and finance departments of regional state administrations and Kyiv City Council to discuss the main indicators of the state budget.
As the Ministry of Finance reported on its website on Friday, during the budget forecasting it is also planned to increase from January 1, 2024 to 3195 UAH per month the forecasted salary of the employee of the I tariff category of the Unified Tariff Schedule, frozen from December 1, 2021 at the level of 2893 UAH.
And at the end of May this year, the Ministry of economy proposed to increase the minimum wage from 2024 by 14.2% – up to 7651 UAH, and the size of the official salary of the employee of the І tariff category of the Unified tariff grid to 3443 UAH.
“In 2024 to support local governments will continue to provide almost 24 billion UAH of additional subsidy from the state budget to local budgets for the most affected frontline and frontline territories. The basic subsidy from the state budget to local budgets for the next year is projected in the amount of UAH 20.2 billion,” Ulyutin also said.
In addition, Deputy Finance Minister Roman Yermolichev pointed out that from January 1, 2024, remuneration of civil servants will be based on the classification of civil service positions and the system of grades. According to him, this will allow to introduce transparent conditions of labor remuneration in the system of public authorities.
Regarding the educational subvention, he said that now the resource for it, taking into account the increase in social standards, is taken into account, but without distribution to the territories, because the indicators from the Ministry of Education are expected after September 5.
“Expenditures on the health sector will be reimbursed from the state budget, the subvention to support individual medical institutions is retained for next year. As for the social sphere, it should be noted that we are now working on a mechanism to determine a unified model of co-financing of social services under martial law and laying the resource for the social project “Veteran’s Assistant”, – added Yermolichev.
It is indicated that during the discussion were also discussed the issues of balances on the accounts of local budgets, distribution of personal income tax from the military, features of horizontal equalization of tax capacity of local budgets, as well as the main approaches and problems of distribution of inter-budget transfers under martial law.

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Meta may introduce paid subscriptions to Instagram and Facebook

U.S. corporation Meta is considering introducing paid Facebook and Instagram subscriptions with no ads for users in the European Union, The Wall Street Journal reports.
It is reported that this could be a response to regulatory scrutiny and a sign of how people perceive technology in the U.S. and Europe.
“Those who pay to subscribe to Facebook and Instagram won’t see ads on the apps. This could help Meta avoid privacy concerns and other scrutiny from EU regulators by giving users an alternative to the company’s advertising services, which rely on analyzing people’s data,” the report said.
According to the publication, Meta will also continue to offer ad-free versions of Facebook and Instagram in the European Union. It is noted that it is still unclear how much the paid versions of the applications will cost and when the company will be able to release them.

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Ukrainian Taryan Group to build complex on island of Bali

Investment and development group of companies Taryan Group (Kyiv) has announced its entry into the international real estate market with the Taryan Dragon project on Bali, Indonesia.
“Taryan Group is becoming an international developer. We are pleased to announce a new dream project – Taryan Dragon in Bali, Indonesia,” said the group’s founder Artur Mkhitaryan on Facebook.
According to him, the complex will be implemented in the format of resort&residence investment real estate. The return on investment is expected to be 17%. The architect of the project is the British John Dawes.
Taryan Group, founded in 2011, is implementing a project of a premium residential complex Taryan Towers for three buildings at 12 John Paul II Street in the capital (commissioning of the complex is scheduled for the end of 2023).

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Czech Republic is ready to support Ukraine and invest in energy independence

This was discussed at a meeting of the Head of the State Agency on Energy Efficiency and Energy Saving of Ukraine Hanna Zamazieieva with representatives of the Czech RSJ Investments Foundation and their partner company.
The Czech partners assured of their desire to help Ukraine and Ukrainian communities become less energy dependent through bioenergy projects.
The Czech Fund is considering installing biomass boilers in Ukraine. The scale of the plans is impressive: the total capacity of the boiler houses is 80 MW, and the amount of investment is more than €12 million. The ultimate goal is to ensure uninterrupted heat supply in Ukrainian hospitals and other institutions.
“Such projects as alternative fuel boiler houses are one of the most relevant solutions for Ukrainian communities. It is an opportunity to provide heat, first of all, to critical infrastructure facilities, even during energy challenges,” emphasized Hanna Zamazeyeva.
The Chairman presented the significant potential of Ukrainian bioenergy, the legislative framework and the initiatives that the Agency’s team is working on to stimulate investment in this area.
The parties went through all the obstacles faced by market participants and discussed various ways to overcome them.
As a result of the meeting, the participants agreed to consolidate efforts to develop heat production from alternative fuels and the cultivation of energy crops.

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Short-term rains in Kyiv and some regions of Ukraine on September 3-4

On Sunday, September 3, there will be short-term rains in the western, Vinnytsia, and in some places in Zhytomyr, Kyiv, Cherkasy, and Odesa regions, significant rains and thunderstorms in the Carpathian and Transcarpathian regions, and no precipitation in the rest of the country, the Ukrainian Weather Center reports.

In the western part, there will be fog in some places at night and in the morning. Wind of variable directions, 3-8 m / s.

Temperature at night 12-17°, during the day 22-27°, in the west of the country 18-23°; in the south at night 15-20°, during the day 25-30°.

In Kyiv, on September 3, there will be no precipitation at night, and in some places short-term rain during the day.

Wind of variable directions, 3-8 m / s. The temperature at night will be 15-17°, during the day 23-25°.

According to the Borys Sreznevsky Central Geophysical Observatory. On September 3, the highest daytime temperature in Kyiv was 32.4° in 1890, the lowest at night was 5.7° in 1898.

On September 4, in Ukraine, at night in the western, Vinnytsia, Zhytomyr, and some parts of Kyiv regions, during the day in the southwestern and southeastern regions, there will be short-term rains, sometimes thunderstorms; in the rest of the country, no precipitation.

The wind is mostly northeast, 5-10 m / s.

Temperature at night 11-16 °, during the day 22-27 °, in the west 18-23 °; in the southern part at night 14-19 °, during the day 26-31 °.

In Kyiv on September 4, Monday, there will be short-term rain at night, no precipitation during the day.

Northeast wind, 5-10 m / s. Temperature at night 13-15°, during the day 24-26°.

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