The deficit of the national budget of Ukraine should fiscal deficit will need to return to pre-pandemic levels as soon as the economy recovers and the pandemic dissipates, IMF Resident Representative in Ukraine Goesta Ljungman told Interfax-Ukraine.
“Once the pandemic dissipates and the economy recovers, the fiscal deficit will need to return to pre-pandemic levels. This is important to instill confidence in Ukraine’s economy and reduce Ukraine’s borrowing needs,” he said.
Ljungman said that a strong fiscal position also gives Ukraine room to provide fiscal stimulus in the case of a future downturn.
“So the question should not be if Ukraine should reduce the fiscal deficit, but when. And in order to do so, there needs to be already a good plan for how that would happen, including through well-designed tax measures,” Ljungman said.
Cyprus has included Ukraine in the list of countries of the “red category,” from which it will be allowed to enter the country if a number of conditions are met already from April 1, 2021.
According to a document released on the website of the Government of Cyprus, passengers arriving from countries of the “red category” must undergo a laboratory analysis by PCR within 72 hours before departure, and then undergo another laboratory test upon arrival in the Republic of Cyprus.
It is noted that such people should remain in self-isolation until the test results are received.
In addition, from countries of the “red category” can enter Cyprus after passing at their own expense laboratory tests only upon arrival in Cyprus, Cypriot citizens and members of their families (foreign spouses and their minor children); persons residing in the territory of the republic legally; persons entitled to enter the Republic in accordance with the Vienna Convention.
Those who fall under these categories must remain in mandatory self-isolation for 72 hours upon arrival and after 72 hours they must undergo another PCR test at their own expense. If the retest is negative, they can end the isolation, according to the document.
Volumes of cargo transportation in 2020, MLN TONS.
Deputy Head of the President’s Office of Ukraine Ihor Zhovkva announced the forthcoming reconstruction of key checkpoints on the Ukrainian-Polish state border due to the inclusion of the border infrastructure between Ukraine and Poland in the Big Construction program.
“Key checkpoints on the Ukrainian-Polish state border are included in the Big Construction national program, which means that they will be reconstructed, and access roads will finished so that our presidents can soon jointly examine the results of this work,” Zhovkva said, following the results of the Consulting Committee of the Presidents of Ukraine and Poland meeting via videoconference with Secretary of State of the President’s Office of Poland Krzysztof Szczerski on Monday, March 29.
A separate item on the meeting’s agenda was the discussion of trade and economic cooperation between Ukraine and Poland. The sides said that “coronavirus pandemic had practically no effect on the volume of trade between the two states.”
When discussing energy issues, the interlocutors noted the exceptional importance of ensuring energy security in Europe and coordinated joint steps to oppose the completion of the Nord Stream 2 project.
The sides also discussed the implementation of joint initiatives in the energy sector, in particular, on the supply of liquefied gas from Qatar to Ukraine through the Polish infrastructure.
In the context of the discussion of Ukraine’s relations with the EU and NATO, the Secretary of State of the President’s Office of Poland assured of Poland’s consistent support for Ukraine’s European and Euro-Atlantic prospects. He positively noted the results of the reforms that our state is introducing in order to achieve the relevant criteria for membership.
The accident of the container ship Ever Given in the Suez Canal, which ran aground and blocked the movement of ships, did not affect the rhythm of the shipment of Ukrainian exports, Stark Shipping has said on Monday.
“Loaded bulk carriers from China do not go to Ukraine, and empty ships do not come from those directions that require passage through the Suez Canal,” the press release said, citing company’s Director for Business Development Andriy Sokolov.
According to him, imports by bulk carriers to Ukraine (in particular bauxite), which are washed and then loaded, also do not pass through the Suez Canal.
According to the company, eight vessels with the cargo of Ukrainian companies such as Nibulon, Cargill, Metinvest, ArcelorMittal got stuck in the Suez Canal. Among the cargo: corn, wheat, iron ore and metal products. Most of them go to China. In general, more than 680,000 tonnes of Ukrainian exports got blocked.
As reported, Egyptian President Abdel Fattah el-Sisi on Monday, March 29, announced that the operation to unblock the Suez Canal has been successfully completed.
Stark Shipping is one of the largest shipping agents in Ukraine and provides services in all Ukrainian ports, serves more than 700 ship calls per year, working with international companies operating in the Black Sea ports.
The number of restaurants and cafes in Ukraine has decreased by almost 4,000 establishments – from 18,600 at the beginning of 2020 to 14,700 in January 2021, General Director of Restaurant Consulting company Olha Nasonova told Interfax-Ukraine.
“According to the negative scenario, in March last year it was predicted that the number of establishments would almost halve. As you can see, our market showed relative stability. In monetary terms, the decrease in the number of establishments gave a decrease in the market volume by almost 30%, to UAH 14.1 billion. This is the result of the closure for several lockdowns, as well as the lack of foreign tourists,” she said.
The expert predicts that the impact of the current lockdown on the market will be minimal. “Only those who planned to close will be closed. Most of them have already worked out the optimal work format,” Nasonova said.
According to her, this year the restaurant market will begin to revive. “Many interesting locations have become vacant, plus their rent has decreased. Hybrid formats – shops-cafes, shops-bars – are in great demand now,” Nasonova said.
