President of Ukraine Volodymyr Zelensky during a meeting with President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso invited a financial institution to join the development of infrastructure projects and privatization in Ukraine, according to the website of the head of state.
“It is very important to support infrastructure projects in Ukraine, because high-quality roads, bridges and social infrastructure are important for every Ukrainian. Thanks to infrastructure projects, we created 190,000 jobs at a time when many were losing their jobs due to the COVID-19 pandemic,” Zelensky said.
The head of state also added that “privatization is one of the priorities today” and invited the EBRD to join this direction.
In addition, issues of development of the agricultural sector of Ukraine were discussed at the meeting. “It is advisable to invest in agriculture. Ukraine needs a lot of investment in the modernization of irrigation infrastructure. Its restoration will be a powerful step in the development of agriculture and Ukraine as a player in the international agricultural market,” Zelensky said.
In addition, Zelensky informed Odile Renaud-Basso about the continued implementation of the reform of law enforcement agencies, about the signing of a law in Ukraine on the creation of the Bureau of Economic Security. The interlocutors also discussed the reform of the energy sector, they talked about the implementation of energy efficiency programs, in particular, the introduction of energy-saving technologies in housing.
In addition, the negotiating parties discussed the continuation of the reform of the financial and banking sectors of Ukraine.
“Ukraine and the EBRD have good relations and many important projects in which Ukraine puts its soul, and the EBRD – its faith and money. We consider you one of the strategic financial partners. These relations are very important for us,” Zelensky said.
In turn, the EBRD President welcomed the reforms that are being implemented in various sectors of the Ukrainian economy.
The meeting was attended by Minister of Finance Serhiy Marchenko, Deputy Head of the President’s Office Yulia Svyrydenko, Advisor to the head of the President’s Office Tymofiy Mylovanov, and Head of Ukravtodor Oleksandr Kubrakov.
Ukraine’s real gross domestic product (GDP) in 2020 fell by 4% after four years of growth, the State Statistics Service has said.
According to its data, the nominal GDP amounted to UAH 4.194 trillion, and per capita – UAH 100,470.
The service clarified that the change in the deflator in the past year was 9.8%.
According to the agency, in the first quarter of 2020 compared to the first quarter of 2019, the decline was 1.2%, in the second quarter it accelerated to 11.2%, after which it slowed down to 3.5% in the third quarter and 0.5% in the fourth.
Nominal GDP in the first quarter of last year was UAH 854.05 billion (deflator change – 5.3%), in the second – UAH 875.34 billion (5.6%), in the third – UAH 1.163 trillion (8.4%) and in the fourth – UAH 1.302 trillion (17.5%).
The State Statistics Service recalled that in 2019, Ukraine’s GDP grew by 3.2%, a year earlier – by 3.4%, and in 2017 and 2016 it increased by 2.5% and 2.4% respectively, after a decline of 9.8% in 2015 and 6.6% in 2014.
The government predicts the growth of the Ukrainian economy by 4.6% in 2021.
In January-February, DTEK lost UAH 1 billion in profit due to underproduction of electricity due to the coal shortage, Head of the Verkhovna Rada Committee on Energy and Housing and Utility Services Andriy Gerus (Servant of the People faction) said.
According to the MP, out of 777 million kWh of total electricity imports to Ukraine in January-February, DTEK could independently generate at least 500 million kWh, which required 250,000 tonnes of coal.
“Taking into account the premium electricity prices in January-February, this means a profit of at least UAH 250 million. However, this profit was not earned due to the coal shortage,” Gerus said.
In January-February, DTEK actually suspended exports of electricity to the EU, which meant an underproduction of another 800 million kWh (for which 400,000 tonnes of coal were needed), and it is a shortfall of about another UAH 800 million, Gerus said.
“Thus, in order to produce the necessary electricity for the needs of Ukraine and for export, DTEK needed 650,000 tonnes of coal. We remind you that the company’s accounts in December had UAH 1.6 billion, which is the equivalent 800,000 tonnes of coal. In fact, the company lost about UAH 1 billion in profit, which it could have received in January-February, the market provided such opportunities,” the head of the parliamentary committee said.
As reported, the National Commission on State Regulation in Energy and Utilities (NEURC) at a meeting on March 10 fined DTEK Zakhidenergo, DTEK Dniproenergo and DTEK Skhidenergo for UAH 1.7 million each for failure to provide the guaranteed coal reserves at thermal power plants (TPPs) in winter, as well as untimely informing the Energy Ministry, NEURC and NPC Ukrenergo about a critical situation with fuel.
Dniprospetsstal Electrometallurgical Plant (Zaporizhia) in January-February this year increased the output of finished rolled products, according to recent data, by 21.7% compared to the same period last year, to 28,000 tonnes.
As the enterprise told Interfax-Ukraine, steel production during this period increased by 12.1%, to 37,000 tonnes.
In February, 18,000 tonnes of steel, and 13,000 tonnes of rolled products were produced.
As reported, Dniprospetsstal in 2020 increased output of finished rolled products by 1.3% compared to 2019, to 154,000 tonnes, and steel by 2.7%, to 225,000 tonnes.
Dniprospetsstal is Ukraine’s only manufacturer of high-quality rolled products and forgings made of special steel grades: stainless, tool, bearing, structural, and also from nickel-based superalloys.
President of Ukraine Volodymyr Zelensky signed law No. 1150-IX on the Bureau of Economic Security of Ukraine, which the Verkhovna Rada adopted on January 28, 2021, the presidential press service said on Monday.
“The document creates institutional conditions to protect economic processes from the pressure of law enforcement agencies, which is supported by Ukraine’s international partners. The main function of the Bureau of Economic Security will be analytical work, not law enforcement powers. The bureau will analyze the beneficiaries of financial transactions and determine if there is a violation of the law in the circulation of funds of certain businesses or government agencies,” the president said in the document.
ECONOMIC SECURITY, ECONOMIC SECURITY BUREAU, VOLODYMYR ZELENSKY
Head of Kirovohrad Regional State Administration Andriy Nazarenko and the director of Posco International Corporation on March 19 signed a memorandum of understanding, providing for mutually beneficial cooperation in the agricultural sector and expansion of investments in Kirovohrad region, the press service of Kirovohrad Regional State Administration reported. “For five and a half years I worked in Seoul, at the Ukrainian Embassy in the Republic of Korea, so I know this country well, I know its traditions, and this is a very powerful company. And the most important thing is that Posco knows about Ukraine. In 2019, the company made a powerful investment having built a terminal in Mykolaiv region. The company wants to develop it. Posco is interested in ground elevators. I really hope that the company will build one in Kirovohrad region,” the press service said citing Nazarenko.
The representative of the Korean company emphasized his interest in investments, business development in Ukraine and cooperation with Kirovohrad Regional State Administration.
“We look forward to further cooperation,” he said.
Posco International is one of the largest South Korean trading companies.
The main areas of activity are trade in agricultural products, goods of metallurgical and chemical industries, as well as the implementation of investment projects in the energy sector.
