Business news from Ukraine

Business news from Ukraine

Forecast of dynamics of changes in ukrainian GDP in % for 2022-2025 in relation to previous period

Forecast of dynamics of changes in ukrainian GDP in % for 2022-2025 in relation to previous period

Source: Open4Business.com.ua and experts.news

Ukraine has exported over 136 mln tons of goods through ‘solidarity corridors’

“Solidarity corridors” have allowed Ukraine to export more than 136 million tons of products such as grain, ore and steel since 2022 and import more than 52 million tons of goods, including fuel, vehicles, fertilizers, as well as military and humanitarian aid, pap.pl reports, citing the European Commission.

“In 2022, the EC, in cooperation with Ukraine and Moldova, created the so-called solidarity corridors to improve the operation of EU-Ukraine-Moldova transport routes after Russia’s invasion of Ukraine. These are alternative logistics routes that allow for the transportation of goods by rail, road, and inland waterway. The corridors, created to circumvent Russia’s blockade of Ukrainian grain exports through the Black Sea, now cover trade in all sectors,” the European Commission reminded.

“Solidarity Corridors” allow Ukraine and Moldova to export all types of goods to world markets and ensure the delivery of necessary products to Ukraine, the EC explained. These routes pass through the Danube region, Poland, the Baltic States and the Adriatic region. They complement the Black Sea route created by Ukraine in the fall of 2023.

The European Commission is convinced that the Danube Corridor and the Polish-Baltic Corridor are crucial for all imports, while the Adriatic Sea is of particular importance for Ukraine’s non-agricultural exports.

The European Union and international financial institutions have so far allocated more than EUR 2 billion to these routes. Large-scale projects include EU funding to improve navigation on the Danube and the Sulyn Canal to the Black Sea. River pilots have been trained with EU funds. In addition, information exchange with Ukrainian ports has been improved. This cooperation has helped to increase the safety and capacity of Danube navigation.

“Two years ago, the Solidarity Corridors changed logistics routes in Eastern Europe to support the functioning of the economies of Ukraine and Moldova and prevent a global food crisis. To date, they have brought about EUR 50 billion in revenue to businesses and at the same time strengthened Ukraine’s economic ties with the EU,” said European Commissioner Adina Valian.

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Housing prices in Ukraine increased by 16% – State Statistics Service

The housing price index in Ukraine in January-March 2024 amounted to 116%, while in the same period in 2023 the figure was 111.4%, the State Statistics Service (Ukrstat) reported.

According to it, in the primary market, housing prices in the first quarter of 2024 accelerated growth to 17.6% compared to 9.8% in the first quarter of last year. Three-bedroom apartments rose in price the most – by 17.9%. The price increase for one-bedroom apartments was 17.8%, and for two-bedroom apartments – 17.5%.

In the secondary market, prices accelerated growth to 15.3% in January-March 2024, up from 12.5% in the same period in 2023. Thus, the growth in prices for one-bedroom apartments amounted to 15.9%, two-bedroom apartments – 15.2%, three-bedroom apartments – 15.5%.

According to the statistics agency, compared to the previous quarter, housing prices rose by 5.7%, with a 5.2% increase in the primary market and a 6% increase in the secondary market.

According to the State Statistics Service, in the first quarter of 2024, prices for primary housing increased by 5.2% for one-bedroom apartments compared to the fourth quarter of 2023, by 5.3% for two-bedroom apartments, and by 4.9% for three-bedroom apartments. In the secondary market, prices increased by 6.1%, 6.2% and 5.9%, respectively.

The State Statistics Service noted that the figures exclude the temporarily occupied territories and part of the territories where hostilities are (were) conducted.

Italian government increases funding for Ukrainian students

This year, the Italian government has increased funding available for young Ukrainians who intend to study in Italy and meet the requirements, said Pier Francesco Zazzo, Ambassador of the Italian Republic to Ukraine.

As the ambassador noted in a commentary to Interfax-Ukraine, Italy, through the Ministry of Foreign Affairs, provides scholarships to Ukrainian students to support and promote cooperation in the cultural, scientific and technological spheres and the spread of the Italian language and culture.

“We are proud to announce that this year the funding available for young Ukrainians who intend to study in Italy and meet the requirements has been increased. With this initiative, we intend to reaffirm our closeness and continued support for the most deserving Ukrainian students in this difficult time,” Zazzo emphasized.

According to the Italian Institute of Culture in Ukraine, applications are accepted until June 14.

The general conditions for participation in the competition for 2024/2025 can be viewed on the portal https://studyinitaly.esteri.it, where candidates can register and fill out the appropriate form until June 14, 2024 (14:00 Italian time) to participate in the selection.

Source: https://iickiev.esteri.it/uk/lingua-e-cultura/borse-di-studio/%D1%81%D1%82%D0%B8%D0%BF%D0%B5%D0%BD%D0%B4%D1%96%D1%97-%D0%BC%D0%B7%D1%81-%D1%96%D1%82%D0%B0%D0%BB%D1%96%D1%97/

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UK general election set for July 4

The UK general election will be held on July 4, King Charles III has already approved the dissolution of Parliament, British Prime Minister Rishi Sunak said.

“Earlier today, I spoke to His Majesty King Charles III to request the dissolution of Parliament. The King has granted this request. We will hold a general election on July 4,” said Sunak, speaking in Downing Street.

“This is the moment for Britain to determine its future,” he emphasized.

The election campaign will begin in the country after the dissolution of Parliament.

According to Sky News, on Downing Street there were “long and open discussions” about whether to hold elections now or in the fall. Deputy Prime Minister Oliver Dowden, for example, has been pushing for a summer election.

Earlier in May, the Conservative Party of the current British Prime Minister lost almost half – 474 – of the seats in local councils in the English elections. The Conservatives had about 1,000 seats in English councils so far.

The Liberal Democrats gained an additional 104 seats, while the Greens gained 74 seats. In addition, taking advantage of the Conservatives’ failure, some smaller parties improved their positions.

Then the head of the British opposition Labor Party Keir Starmer spoke in favor of a general election in the UK.

Sunak holds the post of British Prime Minister since October 2022.

Earlier Experts Club analytical center presented an analytical material about the most important elections in the countries of the world in 2024, possible elections in the UK were among the top 5 most important elections in the world in 2024, more video analysis is available here – https://youtu.be/73DB0GbJy4M?si=eGb95W02MgF6KzXU Subscribe to Experts Club YouTube channel here – https://www.youtube.com/@ExpertsClub

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On Thursday “Ukrenergo” introduces restrictions on power supply for whole day

NEC “Ukrenergo” plans to apply schedules of hourly shutdowns all day Thursday.

As noted by the system operator in its Facebook on Wednesday evening, this is due to the expected cloudiness for tomorrow, which will reduce the production of electricity by solar plants.

It also clarifies that the GGOs concern both the population and industry.

As reported, today GPOs apply from 19:00 until the end of the day.

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