Business news from Ukraine

Business news from Ukraine

UKRAINE CUTS OUTPUT OF METAL PRODUCTS BY 53% DUE TO RUSSIAN INVASION

Ukrainian metallurgical enterprises in January-May of this year reduced the production of general rolled products, according to operational data, by 52.7% compared to the same period last year, to 3.789 million tonnes.
As reported in the information of the association Ukrmetallurgprom on Saturday, for the first five months of the year, steel production fell by 52.8%, to 4.244 million tonnes, pig iron – by 53.3%, to 4.154 million tonnes.
Earlier, Ukrmetallurgprom reported that Ukraine in the first quarter of this year reduced the production of general rolled products by 34.2% compared to the same period last year, to 3.116 million tonnes, steel by 31.2%, to 3.641 million tonnes, and pig iron by 34.1%, to 3.499 million tonnes.

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ZELENSKY GRATEFUL TO WESTERN COUNTRIES, INTL ORGANIZATIONS FOR FINANCIAL SUPPORT TO UKRAINE

President of Ukraine Volodymyr Zelensky expressed gratitude to the governments of Western countries and international organizations for financial support to Ukraine.
“I am grateful to the government of Britain, the leadership of the World Bank, the government of Canada for taking new steps in financial support for Ukraine,” he said in a video statement on the night of Friday to Saturday.
He said “the day before, our state received $1.5 billion: $1 billion from the World Bank, another $500 million from the UK. It is direct budget support.”
“We use it to pay wages in the public sector. Canada was the first country to send funds to our administrative account with the IMF, this is CAD 1 billion,” he said.

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PASSENGERS CARRIED IN 2021, IN MLN

Passengers carried in 2021, in mln

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PRESIDENT ZELENSKY: KEEPING UKRAINE OUTSIDE EU WORKS AGAINST EUROPE

President of Ukraine Volodymyr Zelensky believes that keeping Ukraine outside the EU, European unification works against Europe.
“The final stage of a large diplomatic marathon has begun, which should end in a week and a half. And we are in this marathon together with the European Union, on the same team,” he said in a traditional video message on Saturday evening.
According to Zelensky, “we will soon receive an answer about the status of a candidate for EU membership.”
“I am convinced that this decision can strengthen not only our state, but the entire European Union. What else needs to happen in Europe to make it clear to skeptics that the very fact of keeping Ukraine outside the EU, European unification works against Europe?” he.
For example, the president noted, “everything is obvious to the Russian occupiers, they say so when they mock our people, this is supposedly because Ukraine went to Europe. Where are the skeptics in Europe then?”

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NEW AMBASSADOR OF UKRAINE ARRIVED IN POLAND

Vasily Zvarych, the new Ukrainian Ambassador to Poland, announced that he had begun his diplomatic mission in Warsaw.
“Congratulations from Poland! We have arrived to work resolutely 24/7 to strengthen the Ukrainian-Polish friendship! Together with Poland we are stronger and together we will definitely win! Thank you for the solidarity and support of Ukraine,” Zvarych wrote on Twitter on Sunday
As reported, President of Ukraine Volodymyr Zelensky dismissed Andriy Deshchytsia from the post of Ukrainian Ambassador to Poland and appointed Vasily Zvarych to this position. The corresponding decrees No. 43/2022 and 44/2022 of February 8 were published on the website of the head of the Ukrainian state.

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UN WORLD TOURISM ORGANIZATION: EVENTS IN UKRAINE MAY SLOW DOWN RECOVERY OF INTERNATIONAL TOURISM

International tourism is rapidly recovering from the coronavirus pandemic, but developments in Ukraine and the economic situation in the world as a whole may slow down the improvement in the industry’s performance, according to the United Nations World Tourism Organization (UNWTO).
“The vast majority of industry professionals are looking forward to a recovery in international tourism in 2022 compared to 2021 if the virus does not spread and countries continue to lift restrictions. In the first quarter, international tourism recovered rapidly, but despite the positive outlook, the economic situation, combined with events in Ukraine, could lead to a slowdown in the recovery of international tourism.
According to her, in the first quarter, the number of international tourist arrivals amounted to 61% of the level of the pre-pandemic 2019.
“Events in Ukraine interfere with travel in Eastern Europe, but so far have had a limited impact on the overall performance of international tourism. However, economic consequences, including rising oil prices and inflation, disruption of international supply chains, lead to an increase in transport and hotel accommodation costs.
Thus, according to the UNWTO, the average cost of one international tourist trip has grown from $1,000 in 2019 to $1,400 in 2022. Many UNWTO experts expect a full recovery of international arrivals to 2019 levels in 2023.
According to the organization, international tourism revenues fell by $2 trillion in 2020 and 2021 due to border closures and air travel.

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