The National Bank of Ukraine has raised its forecast of international reserves to $43.4 billion at the end of this year from $40.4 billion and to $44.3 billion at the end of next year from $42.1 billion.
“Compared to the previous forecast, the risk of insufficient international financing this year has significantly weakened, but the risks of rhythmicity of its receipt remain,” the NBU said in a press release on Thursday.
The central bank reminded that in March, about $9 billion was received from international partners, which allowed to increase international reserves to almost $44 billion.
In addition, in recent days, Ukraine has received positive news from the United States about the approval of a military and financial assistance package, and another tranche of EUR 1.5 billion has been received from the EU.
“In view of this, Ukraine can count on $38 billion of external budgetary assistance this year,” the NBU said.
According to its updated forecast, the estimate of the current account deficit this year has been downgraded from $16.9 billion to $20.2 billion, but next year it has been improved from $19.8 billion to $18.2 billion.
For more details on macroeconomic indicators of Ukraine and the world, GDP of major countries and other economic topics, please see one of the video analyzes of the Experts club think tank – https://youtu.be/w5fF_GYyrIc?si=Ymo-FlMFNGfLLdK-
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EXPERTS CLUB, GDP, international reserve, MACROECONOMICS, NATIONAL BANK
In April, the National Security and Defense Council of Ukraine (NSDC) imposed economic restrictions (sanctions) on Pervomaiskyi Specialized Quarry, which holds a special permit No. 4310 for the extraction of granite from the Sofiyivske deposit in Mykolaiv region. NADRA.INFO reports.
The sanctions were imposed for a period of 10 years and include, among other things, the revocation or suspension of special permits for the use of subsoil. The decision of the National Security and Defense Council was put into effect by the Decree of the President of Ukraine Volodymyr Zelenskyy No. 219/1014 of 04.04.2024 (source). The sanctions were also imposed on SPMK-17 LLC, which owns 91.87% of Pervomaisky Specialized Quarry ALC (YouControl).
– The area of the Sofiyivske field is 39.2 hectares. Reserves (cat. A+B+C1) are more than 27 million cubic meters of granite (according to the Public Audit of Subsoil Use as of the fall of 2021).
NADRA.INFO wrote that in April 2021, the National Security and Defense Council imposed sanctions on Pervomaiskyi Specialized Quarry ALC for a period of three years. After that, the State Service of Geology and Subsoil of Ukraine suspended the special permit. Following this year’s decision on sanctions, the State Service of Geology and Subsoil updated the grounds for the suspension (download the order, annex).
– Pervomaiskyi Specialized Quarry ALC was founded in July 1995. The authorized capital is UAH 2 million. Registered in the village of. Migiya, Pervomaiskyi district, Mykolaiv region. The ultimate beneficial owner: Amirkhanyan Seda. Director: Volodymyr Baida.
As a reminder, in 2023-2024. The State Service of Geology and Subsoil of Ukraine suspended a number of mining and prospecting special permits for the use of subsoil to Ukrainian companies on the grounds that the business owners had previously been sanctioned by the National Security and Defense Council. For an overview of the consequences, please follow the link.
The European Business Association proposes to revise the sanctions policy in the field of subsoil use.
In 2023, Agrotrade harvested more than 255 thsd tonnes of grains and oilseeds, some of which showed record yields, the company’s press service reported on its Facebook page on Thursday.
“For the company, 2023 was one of the best years in terms of yields over the past five years. The harvest of corn, winter rapeseed and soybeans was particularly high. In addition, last year we switched to conventional mustard cultivation for the first time and immediately exceeded our threshing plans,” said Oleksandr Ovsyanyk, Director of the Agricultural Department, as quoted by the group’s press service.
He added that the company’s successful results were achieved, in particular, thanks to effective fertilizer and plant protection technologies, a high level of selection of varieties and hybrids, and favorable weather conditions.
According to the report, in 2023, the agricultural holding grew and harvested 84.8 thousand tons of corn, almost 70 thousand tons of wheat, 52.5 thousand tons of winter rape, 29.5 thousand tons of sunflower, 15.7 thousand tons of soybeans, 2.5 thousand tons of mustard and other crops.
As reported, in 2023, Agrotrade supplied about 350 thsd tonnes of grain to the global market. The share of own agricultural products amounted to 35% or 116 thsd tonnes, and third-party producers – 65% or 230 thsd tonnes.
The Agrotrade Group is a vertically integrated holding company with a full agro-industrial cycle (production, processing, storage and trade of agricultural products). The company cultivates over 70 thousand hectares of land in Chernihiv, Sumy, Poltava and Kharkiv regions. Its main crops are sunflower, corn, winter wheat, soybeans and rapeseed. It has its own network of elevators with a simultaneous storage capacity of 570 thousand tons.
The group also produces hybrid seeds of corn and sunflower, barley, and winter wheat. In 2014, a seed plant with a capacity of 20 thousand tons of seeds per year was built on the basis of Kolos seed farm (Kharkiv region). In 2018, Agrotrade launched its own brand Agroseeds on the market.
Vsevolod Kozhemiako is the founder and CEO of Agrotrade.
The Cabinet of Ministers of Ukraine has included Hotel Ukraina in the list of large-scale privatization targets.
The relevant order was published on the government’s website.
As reported, the State Property Fund plans to hold an auction for the privatization of the Ukraina Hotel in late summer 2024. The property is estimated at UAH 1.039 billion (excluding VAT).
The capital’s Ukraina Hotel is a state-owned enterprise managed by the SPF. It has 363 rooms, six conference halls and meeting rooms. There is a parking lot for 80 cars and a shelter with a separate auditorium for 50 people. The hotel’s debt is currently over UAH 45 million.
Fuel price developments for 2022-2023
Source: Open4Business.com.ua and experts.news
PJSC Sumykhimprom, the only state-owned titanium dioxide producer in Ukraine managed by the State Property Fund of Ukraine (SPF), has resumed operations after a long pause, according to the industry news agency Infoindustry.
“In the spring of 2024, raw materials were purchased and production of the first products began. The first commercial product, ammonium sulfate, was received this week, on April 21-22, 2024. The goods are already being shipped to customers at a price of UAH 13800 per ton, big bag, from the plant’s warehouse,” the agency said.
According to him, the plant intends to produce nitrogen-phosphorus and complex three-component fertilizers. The manufacturer has already purchased ammonia and sulfur and is in the process of purchasing phosphate rock and potash ores for fertilizer production. The new management of PJSC Sumykhimprom is open to cooperation with distributors and partners to revive the titanium giant, the statement said.
“Sumykhimprom is one of the largest domestic enterprises producing complex mineral fertilizers, titanium dioxide, sulfuric acid and other inorganic chemicals. The company is one of the top three budget-forming enterprises in Sumy and the region and produces more than 30 brands of NPK fertilizers with different nutrient ratios for different soil and climate zones.
For over 10 years, the plant had been managed by a group of companies affiliated with Dmitry Firtash’s Group DF. In November 2023, the Commercial Court of Sumy Region granted the petition of the SPF and the Ministry of Justice and closed the bankruptcy and rehabilitation proceedings against the state-owned Sumykhimprom.
