At a meeting on Wednesday, the Swiss Federal Council decided to allocate CHF5 billion ($5.53 billion) for Ukraine’s economic development and long-term recovery until 2036 as part of strengthening existing cooperation, the Swiss government portal reports.
“As a first step, it is planned to attract about CHF1.5 billion from the international cooperation budget until 2028. This amount clearly demonstrates Switzerland’s solidarity with the people affected by the war in Ukraine and will increase stability on the European continent,” the statement said.
Citing the World Bank’s estimate, it is reported that the funds needed for reconstruction in Ukraine are estimated at $486 billion (about CHF440 billion). “Switzerland is already supporting projects in Ukraine aimed at restoring the destroyed civilian infrastructure in the energy, roads, and health sectors. In addition, Switzerland and Ukraine jointly launched the process of political recovery on a large scale at the Ukraine Recovery Conference in Lugano in July 2022,” the statement said.
According to the government, Switzerland has already spent about CHF3 billion on these and other measures to support people affected by the war in Ukraine. About CHF425 million of this amount was received from the international cooperation budget, and the rest (about CHF2.5 billion) was spent by the State Secretariat for Migration on reception and support of people with S protection status in Switzerland.
Over the next 12 years, the Swiss Federal Council intends to intensify its support for Ukraine’s recovery and develop cooperation with the private sector. “Given the current financial situation of the Swiss federal government, the Federal Council has proposed a phased approach: support for Ukraine from the international cooperation budget will amount to CHF 1.5 billion by 2028. In 2029-2036, the Federal Council also intends to study support for Ukraine’s recovery from the international cooperation budget until 2028. The Federal Council also intends to explore other sources (other than international cooperation) from which the remaining CHF3.5 billion can be obtained,” the statement said.
At its meeting on Wednesday, the Federal Council also commissioned the development of a program for Ukraine, which should provide targeted and effective support and be based on the seven Lugano principles: partnership, reform focus, transparency, accountability and the rule of law, democratic participation, multi-stakeholder engagement, gender equality and inclusiveness, and sustainability.
Global steel demand will increase by 1.7% to 1.793 billion tons in 2024 and by another 1.2% to 1.815 billion tons in 2025, the World Steel Association predicts.
Martin Theuringer, Chairman of the Worldsteel Economic Committee, noted in his commentary that after two years of negative growth and severe market volatility following the COVID crisis in 2020, there are first signs of stabilization of global steel demand on a growth trajectory in 2024 and 2025.
According to him, the global economy continues to demonstrate resilience despite several strong headwinds, the lingering impact of the pandemic and Russia’s invasion of Ukraine, high inflation, high costs and falling household purchasing power, growing geopolitical uncertainty and sharp monetary tightening.
“As we approach the end of the monetary tightening cycle, we have seen that tighter credit conditions and higher costs have led to a sharp slowdown in housing activity in most major markets and weighed on the manufacturing sector globally. While it appears that the global economy will experience a soft landing after this cycle of monetary tightening, we expect global steel demand growth to remain weak and market volatility to remain high due to the lagged effects of monetary tightening, high costs and high geopolitical uncertainty,” the head of the economic committee said.
China’s steel demand in 2024 is expected to remain roughly at the level of 2023 as real estate investment continues to decline, but the corresponding loss in steel demand will be offset by an increase in steel demand driven by infrastructure investment and manufacturing sectors. In 2025, steel demand in China will return to a downward trend with a 1% decline.
This forecast implies that by 2025, China’s steel demand will be significantly lower than in the recent peak year of 2020. This forecast is also in line with Worldsteel’s view that China may have reached its peak steel demand and that steel demand in the country is likely to continue to be strong in the medium term as China gradually moves away from an economic development model dependent on real estate and infrastructure investment.
Worldsteel’s forecasts for the world, excluding China, assume broad-based growth in steel demand at a relatively high 3.5% per year in 2024-2025.
It also states that India has become the strongest driver of steel demand growth since 2021, and the forecast shows that steel demand in India will continue to grow rapidly, with steel demand in the country growing by 8% in 2024 and 2025, driven by growth in all steel-using sectors and especially by continued strong growth in infrastructure investment. India’s steel demand is projected to be almost 70 million tons higher in 2025 than in 2020.
In other emerging economies such as the Middle East, Africa and ASEAN, steel demand is expected to grow in 2024-2025 after a significant slowdown in 2022-2023. However, growing challenges in ASEAN, such as political instability and declining competitiveness, may lead to a slowdown in steel demand growth in the future.
The developed world is also expected to see a stronger recovery: 1.3% in 2024 and 2.7% in 2025, as Worldsteel expects steel demand to finally show strong growth in the EU in 2025 and remain resilient in the US, Japan and Korea.
According to the forecast, the EU (and the UK) remain the region currently facing the biggest challenges. The region, and in particular its steel-using industries, is facing challenges on multiple fronts: geopolitical shifts and uncertainty, high inflation, monetary tightening and partial withdrawal of fiscal support, and still high energy and commodity prices. The persistence of these negative factors has led to a significant drop in steel demand in the region in 2023 to the lowest level since 2000 and a significant downward revision of the forecast for this year. After only a technical recovery in 2024, steel demand in the region is expected to finally show a significant recovery with growth of 5.3% in 2025. Projected steel demand in the EU in 2024 is only 1.5 million tons higher than during the 2020 pandemic.
In contrast to the EU, US steel demand continues to demonstrate healthy steel demand fundamentals. The country’s steel demand is expected to quickly return to growth in 2024 after a sharp drop caused by the housing market slowdown in 2023, thanks to strong investment activity, boosted by the inflation reduction law, and a gradual recovery in housing activity.
Worldsteel believes that risks have decreased since its last forecast update in October 2023 and are balanced. On the other hand, the Association believes that faster-than-expected disinflation, accompanied by further monetary policy easing, could provide a significant boost to steel-using sectors, especially residential construction. Worldsteel also believes that accelerating global decarbonization efforts or efforts to strengthen public infrastructure to combat the growing risks of climate change are significant positive risks that could support global steel demand going forward.
“However, we observe that further escalation of geopolitical tensions, inflationary pressures proving more resilient than expected, and high and rising public debt levels driving fiscal consolidation in major economies pose significant risks that could certainly slow or even derail the ongoing economic recovery,” the forecast concludes.
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Perlyna Resort Hotel Complex (40 Poleva St., Sokyrna village, Cherkasy region)
May 15
Arrival, accommodation and pre-registration
Optional departure to Kaniv and climbing the Chernecha (Tarasova) mountain
May 16th
8:30-9:30
Registration, welcome coffee
9:30-9:45
Opening of the conference: greetings from the organizers, Cherkasy Regional Military Administration, general partner of the conference
9:45-11:20
Panel discussion “Challenges of 2024 for the state and agri-food business and ways to solve them”
Moderator: Olena Kovaleva
Taras Vysotskyi, agrarian policy expert of the IPSA project
First Deputy Minister of Agrarian Policy and Food of Ukraine – Oleksandr Krasnolutskyi
First Deputy Minister of Environmental Protection and Natural Resources of Ukraine – Yuriy Vaskov
Deputy Minister of Development of Communities, Territories and Infrastructure (pending confirmation) – Viktor Sheremeta
First Vice President of the Association of Farmers and Private Landowners of Ukraine – Andriy Tabalov
Chairman of the Supervisory Board of PJSC Cherkasy Bakery
11:20-11:40
Coffee break
11:40-13:00
Panel discussion “Sustainability of value chains in the bread industry”
Moderator: Oleksandr Taranenko
First Vice President of the UBA, Deputy General Director of Bread Investments LLC (TM “Tsar Khlib”, “Teremno”, CHANTA) – Nadiya Bigun
Deputy Minister of Economy of Ukraine – Arsen Zhumadilov
Director General of the State Logistics Operator – Yaroslav Zheleznyak
First Deputy Chairman of the Committee on Finance, Taxation and Customs Policy – Oleh Hetman
Coordinator of expert groups of the Economic Expert Platform – Natalia Petrivska
Executive Director of the Ukrainian Food Retail Alliance – Vladyslav Averchenko
General Director of Concern Khlibprom PJSC (TM Agrola, Vinnytsiakhlib, Bandinelli, Grill & Bakery, etc.)
13:00-13:50
Lunch
13:50-15:00
Panel discussion “Do consumers’ desires and producers’ capabilities coincide?”
Moderator: Oleksandr Varavka
Chairman of the Supervisory Board of Alviva Group (Kyivkhlib, Kyivmlyn, Stolychnyi Mlyn) – Maryna Zabarylo
Director of Consumer Panel Services GfK Ukraine – Oleksiy Starikov
Commercial Director of Firma Strilets LLC (TM Zodiac) – Dmytro Zhygunov
Professor, Doctor of Technical Sciences, Head of the Department of Grain Processing Technologies, OtU
15:00-15:20
Coffee break
15:20-17:30
Panel discussion “Alternative raw materials, innovative technologies, innovative products”
Moderator: Boris Shestopalov
Co-owner of HD-Group and GFS Group (TM Khlibodar, Zaporizhmlyn, Pervyi Khlib, EveryDay) – Sergiy Sots
Dean of the Faculty of Grain Technology and Grain Business, Odesa National Technological University, PhD – Sergiy Tonkonog
Representative of Astra Group
Representative of USAID-Agro
Representatives of enterprises and companies
18:00-21:00
Friendly dinner from the general partner – Formula Smaku group of companies
May 17
9:30-11:30
Panel discussion “How to increase exports of Ukrainian value-added products?”
Moderator: Rodion Rybchynskyi
Director of the Union “Millers of Ukraine” – Igor Novitsky
General Director of First Mill LLC – Oleksandr Yasynskyi
Commercial Director of Terra LLC – Viktor Zhabchyk
Co-owner and director of VILIS PE (TM VILIS, ChiBi, Makarella, Italino, Viverelli)
Representative of AGA Partners Law firm
11:30-12:00
Coffee break
12:00-17:00
Offsite session (parallel sessions, lunch will be provided at each session)
Location 1.
CherkasyElevatorMash LLC – specialized session “New products based on extrusion. Demonstration of equipment and products”
Location 2.
Cherkasy Bread LLC – specialized session “What is more profitable to invest in today – technology or marketing?”
Location 3.
“Bo Khlib – specialized session “Is it possible to make money on a bread franchise?”
* The program is subject to change
Interfax-Ukraine and open4business – information partner
The main registration period for participation in the National Multisubject Test (NMT) for applicants ends on April 11, the Ukrainian Center for Educational Quality (UCQA) reports.
“April 11 is the last day of registration for the National Multisubject Test (NMT). Therefore, we advise potential applicants not to delay,” the press service of the UCEQA said in a statement.
It is noted that until April 15, in the personal account, the applicant will be able to change the subject of the additional block, in which he wants to take the test, the settlement in Ukraine or abroad, where he will be on the days of the NMT, or indicate the need to take the NMT at an additional session.
As reported, the NMT in 2024 will include three compulsory subjects (Ukrainian language, mathematics and history of Ukraine in the 16-21st centuries) and one subject of the applicant’s choice (foreign language (English, German, French, Spanish), biology, physics and chemistry, Ukrainian literature and geography). Testing will take place during the main (May 14 – June 25) and additional sessions (July 11-19).
The NMT will be held outside of Ukraine at temporary examination centers in 57 cities in 32 countries.
Ukrainian wheat, which is in great demand on the world market, has started to rise in price due to a decrease in supply from key players who have reduced their activity ahead of the new season harvest, according to the analytical cooperative “Start”, created within the framework of the All-Ukrainian Agrarian Council (AAC).
“In April, 541 thsd tonnes of wheat have already been exported. Some of the products that could not be exported in March will be shipped from Ukraine in April. Therefore, this month we can reach the export level of 3 mln tons – this will happen due to the March contracts. Importers are ready to wait for wheat deliveries, as demand is growing. The increase in demand is supported by the forecasts of production decline in the EU, the US and Ukraine, i.e. all key exporters,” the analysts said.
They reminded that last season Ukraine exported a lot due to large carry-over stocks. This season, they will not exceed 1 million tons, as the ports are working. At the same time, the sown areas are shrinking, and less wheat will be harvested. The first estimates of the export potential of Ukrainian wheat in the new season have already been reduced by 3-4 million tons.
“Although the Ukrainian CPT market saw a drop in prices last week, the market is coming back to life, prices are returning to previous levels and will continue to grow. Our main competitor – Russian wheat – has risen in price by $8-10 per ton in recent weeks. The price of Ukrainian wheat will rise by at least $2-3 per ton by the end of the week,” the experts predict.
According to their estimates, by the end of the week, the conditional prices for wheat on CPT basis will be about $175 per ton in the Danube ports, $170 per ton in deep-water ports, $198-203 per ton on DAP Constanta basis.
“According to expectations, the demand for wheat will continue to drive the wheat market upwards,” Pusk summarized.
