Ukraine’s real GDP will fall by 31% in 2022 and recover by 8% in 2023 if by the end of 2022 half of the current main negative factors are resolved, and by the end of 2023 they will come to nothing, Concorde Capital investment company predicts.
The real gross domestic product (GDP) of Ukraine in the second quarter of 2022 fell by 37.2% compared to the second quarter of 2021 after falling by 15.1% in the first quarter of this year, the State Statistics Service published such a preliminary estimate.
The negative dynamics of the economy is still softer than the NBU expected, but the experience of 2014-2015 and the prolongation of the war allow us to assume that the situation may worsen in the future, Oleksandr Paraschiy, the head of the analytical department of Concorde Capital investment company, believes.
Export of goods from Ukraine in August increased by 13.9% compared to July to $3.363 billion, while imports decreased by 2.3% to $4.416 billion, the Ministry of Economy reported.
The National Bank of Ukraine (NBU) preliminary estimates the growth of annual inflation in August at the level of up to 23%, Deputy Governor of the NBU Serhiy Nikolaychuk said.
The growth of consumer prices in Ukraine in August 2022 accelerated to 1.1% from 0.7% in July, the State Statistics Service of Ukraine reported on Friday. In August last year, 0.2% deflation was recorded, so year-over-year, in August this year, inflation rose to 23.8% from 22.2% in July and 21.5% in June.
Underlying inflation jumped even more last month, to 2.1% from 1.2% in July, 1.6% in June and 1.4% in May.
The draft state budget for 2023, which the government approved on Tuesday, is based on a forecast of 4.6% growth in real gross domestic product (GDP) and 37% nominal growth with inflation up to 30% and an average annual exchange rate of UAH 42/$1, Prime Minister Denys Shmyhal said.
The National Bank of Ukraine (NBU) kept the key policy rate at 25% at the September 7 meeting of the Monetary Policy Committee (MPC) unanimously supported MPC members, the NBU said on its website.
The total area of residential buildings for which construction permits have been issued (new construction) in January-June 2022 decreased by 1.8 times (44.5%) compared to the same period in 2021, to 2.5 million square meters, according to the State Statistics Service.
Economic Monitoring’s Project Manager – PhD in Economics, Maksim Urakin
A number of flights from Kiev and Odessa began on Saturday, November 5, according to Ukrzaliznytsia.
“New flights Kiev – Chisinau, Kiev – Peremyshl, Odessa – Kramatorsk, Zhmerinka – Khutor-Mikhailovsky start today,” is indicated in a message in the telegram channel.
It is noted that several other announced novelties are preparing for the first flights. Schedules will be announced in the coming days.
Quotes of interbank currency market of Ukraine (UAH for $1, IN 01.09.2022-30.09.2022)
Microsoft will provide Ukrainian critical infrastructure and other state-critical sectors with $100 million in technology assistance by the end of 2023, company Vice President Brad Smith said during a meeting with Deputy Prime Minister – Head of the Ministry of Digital Affairs Mikhail Fedorov on Thursday.
“With technical assistance, government agencies, critical infrastructure and other sectors in Ukraine will continue to use digital infrastructure and work in the Microsoft cloud for free. The company will also help with the curation and implementation of Ukraine’s digital sectors, such as cyber, judiciary, customs, medicine and education,” the company said in a statement to the Ministry of Digital in its Telegram channel.
Fedorov noted that Microsoft was one of the first companies to suspend all new sales of products and services in Russia back in early March.
“During this time, Ukraine has received more than $400 million in support. In addition to free services, Microsoft supports Ukraine in the field of cyber, donates to humanitarian aid and cooperates with the Ukrainian government to document the war crimes of Russian invaders,” the deputy prime minister said.
Tourist collection of Ivano-Frankivsk region in January-October 2022 amounted to 15.3 million UAH, which is 80.2% more than in the same period last year.
“This is 80.2% more than in the same period last year, and at the same time 47.3% more than the indicator for the entire last year,” Vitaly Perederko, head of the tourism department of the department of international cooperation, eurointegration, tourism and investment Ivano-Frankivsk OVA, said on Facebook.
According to him, the most revenues during this period received Polyanitske (8.3 million UAH), Yaremche (2.7 million UAH), Ivano-Frankivsk (2.1 million UAH) territorial communities.
PJSC “Centravis Production Ukraine” (Centravis Production Ukraine), which is part of the holding Centravis Ltd., is provided with electricity in the required quantity and continues to produce stainless steel pipes as part of the fulfillment of customer orders.
As chief sales officer (CSO) Artem Atanasov said in a letter to clients on Friday, Ukraine continues to live in conditions of full-scale war. Currently, the government is working on the restoration of critical infrastructure facilities, which were partially destroyed as a result of shelling by Russian troops.
“Centravis production continues to operate and its efficiency has not suffered. Our key equipment is provided with electricity in full. Production is provided with blanks and all necessary materials,” Atanasov states.
According to him, the logistics team is actively looking for the best and safest ways to deliver finished products. “They manage to organize processes in such a way as to prevent disruptions in the delivery of orders in the future,” says the director of sales.
It is stated that the company’s sales offices operate worldwide in Essen, Milan, Krakow, Lugano, Houston and Dubai.
This week the Centravis team is taking part in the annual exhibition Abu Dhabi International (ADIPEC), which takes place in the United Arab Emirates.
“Centravis” is one of the world’s largest manufacturers of seamless stainless steel pipes, founded in 2000. Its production facilities are located in Nikopol (Dnepropetrovsk region). It is included in the top 10 global players, supplies pipes to more than 70 countries from different regions, in particular to Thyssenkrupp, Buhlmann, BMW, Alstom, Linde, Samsung, Volkswagen.
Before the Russian aggression, more than 1,400 people worked at the enterprise.
Holding Centravis Ltd. was created on the basis of CJSC “Nikopol Stainless Pipe Plant”, service and trading companies LLC “Production and Commercial Enterprise “UVIS”. Its shareholders are members of the Atanasov family.
Owned by Centravis Ltd. 100% of the shares of PJSC “Centravis Production Ukraine” is located.
