Zaporozhkoks, one of Ukraine’s largest coke and chemical producers and part of Metinvest Group, increased its blast furnace coke output by 1.9% year-on-year to 362.7 thousand tons from 355.7 thousand tons in January-May this year.
According to the company, it produced 75.7 thousand tons of coke in May.
As reported, Zaporozhkoks increased its blast furnace coke output by 16% in 2023 compared to 2022, up to 856.8 thousand tons from 737.4 thousand tons.
“Zaporozhkoks produces about 10% of coke in Ukraine and has a full technological cycle of coke products processing. It also produces coke oven gas and pitch coke.
“Metinvest is a vertically integrated mining group of companies. Its major shareholders are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage the company.
Metinvest Holding LLC is the management company of Metinvest Group.
In January-May of this year, Zaporizhstal Iron and Steel Works increased its rolled steel output by 47.4% year-on-year to 1 million 48.8 thousand tons from 711.6 thousand tons.
According to the company, steel production during this period increased by 45.4% to 1 million 249.5 thousand tons, and pig iron production by 36.3% to 1 million 290.4 thousand tons.
In May, Zaporizhstal produced 240 thousand tons of pig iron and 240.2 thousand tons of steel, and shipped 204 thousand tons of rolled products.
As reported earlier, in 2023, Zaporizhstal increased its rolled steel output by 57.2% compared to 2022, to 2 million 54.7 thousand tons, steel by 65.4%, to 2 million 466.9 thousand tons, and pig iron by 35.3%, to 2 million 718.9 thousand tons.
“Zaporizhstal is one of the largest industrial enterprises in Ukraine, whose products are in great demand among consumers both in the domestic market and in many countries of the world.
“Zaporizhstal is in the process of integration into Metinvest Group, whose major shareholders are System Capital Management (71.24%) and Smart Holding Group (23.76%).
Metinvest Holding LLC is the management company of Metinvest Group.
International rating agency S&P Global Ratings has affirmed Uzbekistan’s long-term sovereign credit rating at “BB-” with “stable” outlook, the agency said in a statement.
The short-term credit rating was affirmed at “B”.
According to the agency, at the next stage of reforms implemented in Uzbekistan, the new tariff policy aimed at ensuring energy security and efficiency, and the reduction of budget subsidies deserve special attention.
S&P notes that the “Uzbekistan – 2030” strategy attracts investments in transport, telecommunications, agriculture, tourism and other sectors, reforms the energy sector, privatization and improvement of fiscal policy.
Thanks to investments in electricity and gas production, green energy and mining, as well as reforms aimed at creating a market economy, S&P forecasts Uzbekistan’s GDP growth to average above 5% per year in 2024-2027.
According to S&P estimates, gradual reduction of the budget deficit will be achieved starting from 2024 by increasing the targeting of subsidies and social spending and abolishing some tax exemptions.
The report also notes that the law “On State Debt” sets the upper limit of state debt and there are annual limits on newly attracted foreign debt.
According to the agency’s report, Uzbekistan’s sovereign credit rating may be upgraded and the outlook may be improved if reforms lead to higher-than-expected economic growth in the medium term and have a positive impact on the sector’s fiscal and external indicators.
Factors downgrading the country’s credit rating are the rapid growth of the country’s total external debt, increased fiscal and balance of payments risks due to failure to achieve the expected results of projects financed by external loans.
President of Ukraine Volodymyr Zelenskyy has stated the need to accelerate the delivery of military assistance to Ukraine as part of the $61 billion support package approved by the US Congress in April this year.
“It is very important that this (the decision of the Congress to help Ukraine – IF-U) was adopted. It is a weapon for us, it is an important signal for Russia. And it is important that it was a united positive decision within the United States. But I believe that not much of this amount has come today. This is my personal opinion. But I can’t staff the brigades, the reserves, just to change the brigades that are standing, so that there is a normal rotation,” Zelensky said in an interview with The Guardian published on Saturday.
Thus, he said, “Russia clearly understands this – what they are doing with Kharkiv and why they are going north and looking in that direction – to stretch the front.”
“They know that we have an understaffed reserve, they know that we cannot send a reserve without the appropriate weapons – the way they send theirs like meat. They understand that our troops in the east, and the Russian Federation does not abandon its main goal of occupying the entire east of our country, need to stretch our forces. They are stretching our front and understand that if enough (weapons – IF-U) came, we would staff the brigades, we would not withdraw our forces from Donbas and could respond with our long-range (to shelling – IF-U) of Kharkiv region,” the president said.
At the same time, Zelensky emphasized, no one is blaming anyone. “We are where we are. We are at war. And not at the beginning of it. And so we need to look for a way out of the situation every day.”
He also noted that, in general, the amount allocated by Congress is large enough to equip Ukrainian brigades easily and quickly, but, in his opinion, it is coming slowly.
“And everyone is happy, everyone is happy that they managed (to agree on the aid to Ukraine – IF-U), that everyone put pressure on the US together, bipartisan support, 61 billion – and it is just beginning to be transferred to us, coming to us. But Russia is faster. Russia is slower than Ukraine, but faster than the West. And this is a problem. And if every minute can take away people’s lives, then we want faster deliveries (from the US – IF-U). It’s just that the price of this is more painful for us than for our partner countries. Because no one in their families died. And thank God! But you don’t know what war is until it comes to your home,” Zelensky emphasized.
He also emphasized that “this speed is constantly lacking in the West, in our partners,” adding that this could be due to various reasons, including bureaucratic ones or “a different approach to life in non-war time.”
“In war, you have other priorities: survival, people, children – this is the main thing. And when you’re safe, you get used to it, and that’s why your time goes differently. You don’t need to survive now, because the next second you might be killed. For example, you are in Kharkiv, and if you don’t go down to the bomb shelter – and their (Russian – IF-U) weapons are 60 km, 100 km away – and you don’t go down, you could be dead,” Zelensky summarized.
At a meeting on Friday, the Cabinet of Ministers decided to compensate up to 50% of the cost of restoring and building reclamation systems for water user organizations, the Ministry of Agrarian Policy and Food reported.
According to Resolution No. 628 “On Amendments to the Procedure for the Use of Funds Provided in the State Budget for Providing State Support to Agricultural Producers Using Reclaimed Land and Water User Organizations” developed by the Ministry of Agrarian Policy, farmers using reclaimed land can receive compensation for the reconstruction and modernization of existing or construction of new reclamation systems, as well as for the restoration of pumping stations.
The amount of assistance for farmers will not exceed UAH 26.5 thousand per 1 hectare of cultivated land subject to hydraulic reclamation, excluding the cost of sprinklers.
The budgetary subsidy is provided for the works and reclamation systems commissioned for the period from November 1, 2023 to October 31, 2024.
The Ministry of Agrarian Policy clarified that farmers will submit applications for budgetary funds and documents for it through the State Agrarian Register. The Ministry will announce the start of the application process later.
Forecast of unemployment rate in ukraine according to methodology of international labor organization until 2025
Source: Open4Business.com.ua and experts.news
