Business news from Ukraine

Business news from Ukraine

UKRAINE APPROVES CONCEPT OF DONBAS ECONOMIC DEVELOPMENT

The Cabinet of Ministers of Ukraine has approved the Concept of economic development of Donetsk and Luhansk regions until 2030.
The relevant decision was made at the Wednesday government meeting.
The purpose of the document is to determine the conceptual approaches and main directions of the strategy for the economic development of Donbas for the creation of regulatory, institutional and organizational conditions for the formation and development of the economy of Donetsk and Lugansk regions.
According to the concept, the reboot of Donbas economy will take place in two stages: firstly, under current conditions in the controlled territory of the regions, secondly, throughout Donetsk and Luhansk regions after reintegration.
According to Prime Minister of Ukraine Denys Shmyhal, these territories require additional incentives that will create an attractive platform for involving investments.
In particular, this is about development in the direction of the real sector of the economy, industrialization, the development of critical infrastructure and logistics.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 28/12/20

National bank of Ukraine’s official rates as of 28/12/20

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF DECEMBER 28

Official rates of banking metals from national bank as of December 28

One troy ounce=31.10 grams

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UKRAINE’S TAX SERVICE WILL FULLY OPERATE AS SINGLE LEGAL ENTITY FROM JANUARY 1

The State Tax Service will operate as a single legal entity from January 1, 2021.
“From January 1, 2021, the territorial bodies of the State Tax Service, created as its separate divisions, begin to exercise the powers and functions of the territorial bodies of the State Tax Office, which are liquidated as a legal entity,” the service said on its website on Thursday.
The corresponding order was signed by head of the department Oleksiy Liubchenko on Thursday.
According to him, this is the final step in the transition of the service to the format of a single legal entity.
Thus, from January 1, the service will consist of the central office and territorial bodies as separate units, the department added.

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FOREIGN TRADE TURNOVER BY THE MOST IMPORTANT POSITIONS IN JAN-SEPT 2020 (EXPORT)

Foreign trade turnover by the most important positions in Jan-Sept 2020 (export).

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UKRAINE IN JANUARY-NOVEMBER REDUCES ELECTRICITY CONSUMPTION

Electricity consumption in Ukraine in January-November 2020, taking into account in-process losses, decreased by 3.6% (by 4.917 billion kWh) compared to the same period in 2019, to 131.305 billion kWh, the Ministry of Energy has told Interfax-Ukraine.
Excluding in-process losses, electricity consumption over 11 months decreased by 3.2% (by 3.456 billion kWh), to 105.864 billion kWh.
The country’s industry, excluding in-process losses, reduced electricity consumption by 4.6%, to 44.768 billion kWh. In particular, metallurgical industry consumed 24.767 billion kWh (6.4% less compared to January-November 2019), fuel industry 2.791 billion kWh (5.6% less), machine building industry – 2.791 billion kWh (16.5% less), chemical and petrochemical – 3.953 billion kWh (11.7% more), food and processing – 3.953 billion kWh (3.7% down), construction materials – 2.116 billion kWh (1.9% more), others – 4.422 billion kWh (4.1% more).
In addition, agricultural enterprises consumed 3.411 billion kWh (0.2% more), transport – 5.103 billion kWh (14.5% less), construction – 831.2 million kWh (4% less).
The population of the country consumed 32.583 billion kWh (2.4% more), household consumers – 12.719 billion kWh (6.7% less), other non-industrial consumers – 6.449 billion kWh (down by 3.9%).
According to the results of 11 months, the share of industry in the total volume of electricity consumption decreased from 42.9% to 42.3%, while the share of the population increased from 29.1% to 30.8%.

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