Dynamics of gold and foreign reserves of Ukraine from 2012 to 2022
NBU
Vice Prime Minister, Minister of Infrastructure and Regional Development of Moldova Andrei Spinu said that next month Moldova will buy 30% of the missing electricity from two Ukrainian companies.
The Ukrainian companies Energoatom and Ukrhydroenergo will supply Moldova with 30% of the electricity it lacks in August. Of the total capacity, 20% will go to Energoatom, and 10% to Ukrhydroenergo at the same price. Both companies will supply electricity at the same price – $77/MWh,” Spinu wrote on his Telegram channel page on Friday.
He recalled that 70% will be supplied by the Moldavskaya GRES (located in Transnistria and owned by the Russian group Inter RAO UES) at a price of $59.9/MWh, according to the contract concluded for July-August. According to the Deputy Prime Minister, the weighted average price of supplies in August will be $65.03/MWh.
“Such a price makes it possible to maintain the electricity tariff for citizens and the economy at the same level,” Spinu said.
Earlier it was reported that Moldova buys electricity from the Moldovan state district power station. At the same time, since March, contracts are concluded for only one month. This is due to the energy crisis and unstable gas prices. Because of Gazprom’s reduction of gas supplies to Transnistria in May, Moldavskaya GRES warned Chisinau that it would be able to supply only 70% of the required amount of electricity to the right bank of the Dniester. Since May, Moldova has been buying the missing amount of electricity from Ukraine.
Yesterday, the Cabinet of Ministers included the pharmaceutical industry in the list of priority sectors of the economy, thereby strengthening state support in this area. Since the beginning of the war, the main pharmaceutical companies in Ukraine have generally maintained their production capacities, while several enterprises suffered as a result of Russian strikes, in particular, in March, the warehouses of the Farmak pharmaceutical plant burned down in Makarov, Kyiv region. The damage then, according to the enterprise, amounted to about 1.5 billion hryvnia.
How important is state support for pharmaceutical manufacturers now, and will the industry be able to provide Ukrainians with medicines in full? Igor Stakovichenko, an expert in the field of economics, answered these and other questions for the Open4business portal.
In his opinion, now the production of medicines should be equated by the state with the provision of the army, since in a warring state medicine is one of the foundations of a stable situation at the front and in the rear.
“It is hard to imagine that the army will be able to fight effectively if it is not provided with high-level medical support. At the same time, the production of its own medications is strategically important for the state. Supplies from Western partners are good, but having your own working pharmaceutical industry in such a difficult time is much better And this is understood in the government,” Igor Stakovichenko believes.
According to the expert, pharmaceutical production in Ukraine today is able to provide both the army and the population with a significant part of the necessary medicines. Igor Stakovichenko believes that the government’s timely decisions taken since the beginning of the war made it possible to quickly adapt the industry to new conditions.
“In particular, back in the spring, amendments were adopted to the law “On Medicines”, limiting the export of certain vital drugs. In addition, they significantly simplified the registration of pharmaceuticals during the war, creating an emergency procedure. This was done literally on the third day. In general, the government’s decision on The inclusion of pharmaceutical production in the list of priority industries is a continuation of the policy of supporting the industry, which has been outlined since the beginning of the war. Such support should remain at the level of the main state priorities,” stressed Igor Stakovichenko.
ECONOMY, MARKETS, MEDICINE, PHARMA, STAKOVICHENKO, ИГОРЬ_СТАКОВИЧЕНКО
The export potential of Ukrainian wheat in the 2022/2023 marketing year (MY, July-June) may be about 12 million tons, which is 36% lower than in the previous 2021/2022 MY (18.7 million tons) and by 28% less than the year before last 2020/2021 MY (16.6 million tons).
As reported on the APK-Inform agency website on Friday, the decline in wheat exports is due to a 39% decrease in the expected gross grain harvest in Ukraine in 2022/23 MY compared to the previous season – to 52.3 million tons from 86 million tons, as well as the limited capacity of the country’s export infrastructure.
According to him, Egypt and Indonesia have been the key importers of Ukrainian grain products for several seasons: at the end of 2021/2022 MY, their shares in total exports amounted to 16% and 14%, respectively (2.9 million tons and 2.5 million tons in natural expression). It is specified that in 2021/2022 MY, Egypt increased purchases of Ukrainian wheat in relation to the season 2020/2021 MY by 19%, and Indonesia – by 2%.
Turkey became the third largest importer of Ukrainian wheat in the past MY – its imports more than doubled compared to the previous season – from 794 thousand tons to 1.9 million tons, and its share in total exports increased from 5% to 10%.
As reported, the US Department of Agriculture (USDA) in the July report predicts the harvest of Ukrainian wheat in the 2022/2023 marketing year (MY, July-June) at the level of 19.5 million tons, its export – 10 million tons, domestic consumption within the country – 10, 2 million tons. The corn harvest is estimated at 25 million tons, export – 9 million tons, domestic consumption – 10.7 million tons.
Germany will supply Ukraine with 16 Biber bridge-laying tanks, the German Ministry of Defense has reported.
“We continue to support! To further support the ground forces of Ukraine, Minister Lambrecht has decided to deliver a batch of 16 Biber armored bridge layers. They can be used to overcome water or other obstacles in battle,” the ministry said on Twitter on Friday.
For the second time in a year, the International Monetary Fund (IMF) worsened its forecast for global economic growth in 2022 – to 3.2% from 3.6% (4.4% growth was expected in January). For 2023, the estimate has been lowered to 2.9% from the 3.6% growth expected in April (in January, the IMF forecast global GDP growth of 3.8%).
Such an assessment is given in the World Economic Outlook Update: Gloomy and more uncertain, published by the IMF on Tuesday.
The IMF lowered the growth forecast for the economies of emerging market and developing countries for 2022 to 3.6% from 3.8%, for 2023 – to 3.9% from 4.4%.
The growth forecast for China’s economy this year has been significantly reduced to 3.3% from 4.4% (in January, an increase of 4.8% was expected), in 2023 to 4.6% from 5.1%.
India’s GDP growth estimate is also downgraded to 7.4% from 8.2% in 2022 and to 6.1% from 6.9% in 2023, respectively.
At the same time, the growth forecast for the Brazilian economy has been raised to 1.7% from 0.8% in 2022 and lowered to 0.9% from 1.4% in 2023.
The forecast for GDP growth in developed countries in 2022 is downgraded by 0.8 percentage points to 2.5% and by 1 p.p. – up to 1.4% – in 2023.
There is also a serious reduction in the forecast for US GDP growth: in 2022 – by 1.4 p.p. to 2.3%, in 2023 – by 1.3 p.p. up to 1%.
The economy of the eurozone countries this year, according to the IMF, will grow by 2.6%, which is 0.2 percentage points. less than the previous forecast. For 2023, the estimate deteriorated more significantly – an increase of 1.2% compared to the previously expected 2.3%.
The forecast for Italian GDP growth in 2022 was raised to 3% from 2.3%, in 2023, on the contrary, it was reduced to 0.7% from 1.7% (was 2.2%). The forecast for Spain for the current year is reduced by 0.8 percentage points. – up to 4% and by 1.3 p.p., up to 2% in 2023
The German economy in 2022 will grow, according to the IMF, only by 1.2%, previously expected to grow by 2.1%, in 2023 growth will slow down to 0.8% compared to the previous forecast of 2.7%.
For France, the assessment has been reduced for the current year by 0.6 percentage points. – up to 2.3% and by 0.4 p.p. for 2023 – up to 1%.
The UK economic growth forecast for 2022 is reduced by 0.5 p.p. – up to 3.2%, for 2023 – by 0.7 p.p. – up to 0.5%. Japan’s GDP is expected to grow by 1.7% in 2022-2023 (down 0.7 percentage points this year and 0.6 percentage points next).
The fund improved its assessment of the dynamics of the Russian economy in 2022, expecting it to fall by 6%, and not by 8.5%, as predicted in April. At the same time, the forecast for 2023 has worsened: according to the Fund, the decline in the RF GDP will be 3.5% compared to the previous forecast of 2.3%. In January, the Fund predicted the growth of the Russian economy in 2022 by 2.8%, in 2023 – by 2.1%.
The IMF states: the risks for the updated global forecast are overwhelmingly shifted to the downside. A war in Ukraine could lead to a sudden halt in gas imports from Russia to Europe; slowing down inflation may prove more difficult if labor market deficits exceed expectations or inflation expectations cannot be anchored; tightening conditions in the global financial market is fraught with debt crises in developing countries; new outbreaks of COVID-19 and lockdowns, coupled with further escalation of problems in the real estate sector, could further slow China’s growth; geopolitical fragmentation could hinder the development of world trade, the IMF lists risk factors. In an alternative forecast scenario in which these risks materialize, global GDP growth will slow down to 2.6% and 2% in 2022 and 2023. respectively.
