A new version of the draft law “On amendments into some legislative acts of Ukraine on favoring of space development and attracting investments into space sector of Ukraine” that permits private companies to launch space rockets and conduct work in space.
The document was drafted by the group of the deputies from Servant of the People faction, eHealth coordinator Jaanika Merilo wrote on Facebook.
“On the first day, the deputies registered a bill to open space for private companies, but it turned out that this bill was not the one that was developed by BRDO [Better Regulation Delivery Office] and the private market. Many thanks to the deputies, the head of the committee and the author of the bill, Dmytro Natalukha, the Servant of the People team and Prime Minister Oleksiy Honcharuk for their quick response, absolute understanding and cooperation regarding the fact that the sky needs to be opened. After consultations and discussion of problems in this bill, the bill was recalled and resubmitted in a form that really opens the sky,” she wrote.
According to Merilo, there are many companies in Ukraine that could develop various different solutions for the space industry, emphasizing that space today is more likely to relate to logistics than to the defense sector.
Following the explanatory note to the bill, the text of which was published on the website of the Verkhovna Rada, its adoption will ensure the creation of a competitive environment for the development of private property enterprises along with the public sector of the space industry, as well as lead to attract investment in the space industry of Ukraine.
At present, activities related to the testing, production and exploitation of rocket vehicles can only be carried out by the state-owned companies.
Production of natural gas in Ukraine in January-August 2019 increased, according to recent data, by 0.9% (by 130 million cubic meters) compared to the same period in 2018, to 13.882 billion cubic meters, according to data from JSC Ukrtransgaz.
According to the calculations of the Interfax-Ukraine agency, gas production by Ukrgazvydobuvannia amounted to 10.073 billion cubic meters (0.6% less compared to January-August 2018), by PJSC Ukrnafta to 773.6 million cubic meters (9.9% more), and other companies to 3.036 billion cubic meters (4.3% up).
In August 2019, gas production amounted to 1.694 billion cubic meters (4.8% less compared to August 2018), in particular by extraction by Ukrgazvydobuvannia totaled 1.205 billion cubic meters (7.2% less), Ukrnafta some 100.9 million cubic meters (7.6% more), and other companies some 387.9 million cubic meters (down by 0.01%).
The number of Green Card international insurance contracts signed by the member companies of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) increased by 45.6% in January-July 2019 compared with January-July 2018, to 618,969.
According to the MTIBU’s website, the amount of accrued insurance premiums for this period rose by 35.8% compared to the same period last year, to UAH 1.038 billion.
At the same time, the amount of compensation paid on claims grew by 22.41%, to EUR8.440 million, while the number of claims paid was up by 3.04%, to 3,047.
The MTIBU is the only association of insurers that carry out compulsory insurance of vehicle owners’ civil liability for damage caused to third parties. Its members are 51 insurance companies, including ten full bureau members having the right to sign Green Card agreements.
Fitch Ratings has upgraded Ukraine’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) to ‘B’ from ‘B-‘, the outlooks are positive, according to a report on the rating agency’s website.
“Ukraine has demonstrated timely access to fiscal and external financing, improving macroeconomic stability and declining public indebtedness, while a shortened electoral period has reduced domestic political uncertainty. Expected macroeconomic policy continuity, the new government’s strong stated commitment to structural reforms and engagement with IFIs mean that Fitch expects further improvements in creditworthiness,” the report says.
“President Volodymyr Zelensky’s strong popular support and his party’s control of government and parliament provide the government with a uniquely strong position to move ahead with its reform-minded policy agenda. After a commanding victory in the second round of presidential elections, the president’s party Servant of the People (SOP) obtained control of the Verkhovna Rada (256 out of 450 seats) in snap parliamentary elections (originally scheduled for end October). The recently formed government under Prime Minister Oleksiy Honcharuk includes technocratic, pro-western and reform-minded ministers. Key economic policy makers such as Minister of Finance Oksana Markarova remain in their positions, supporting the continuity of policies underpinning reduced macroeconomic imbalances and improved stability,” Fitch said.
“The new prime minister intends to negotiate a new and longer program with the IMF, possibly an Extended Fund Facility (EFF), in the near term. The high likelihood of continued IMF engagement will facilitate access to official and market financing to meet large sovereign debt repayments in 2020-2021, and serve as an anchor for policies and reforms that could potentially lift growth prospects,” the agency experts stated.
“Prudent fiscal management, stable growth, declining interest rates and moderate exchange rate depreciation pressure will support continued government debt reduction. We expect government debt to decline to 47.9% of GDP (55.8% including guarantees) by end-2019, down almost 20 p.p. from the peak of 69.2% (80.9% including guarantees) in 2016 and below the current 57.5% ‘B’ median, and reach 44.4% by 2021. Government debt dynamics are highly exposed to currency risk as 67% is foreign currency denominated, but greater non-resident participation in the local bond market will help increase the share of local currency debt and extend maturities,” according to the document
“The long-awaited increase in Ukraine’s credit rating was made possible thanks to macroeconomic stabilization, a decrease in government debt and a reduction in political risks. This means that confidence in Ukraine is growing, and the risks associated with our creditworthiness are decreasing. And most importantly, the cost of borrowing will decrease,” Finance Minister of Ukraine Oksana Markarova said.
Ukraine since the beginning of the new 2019/2020 marketing year (MY, July-June) and as of September 6, 2019 had exported 9.792 million tonnes of grain and legumes, which is 1.6 times more than on the same date of the previous MY.
According to the Ministry of Agrarian Policy and Food, farmers also exported 5.63 million tonnes of wheat, 1.86 million tonnes of corn, 2.28 million tonnes of barley. As of September 6 this year, 52,600 tonnes of flour had been also exported.
As reported, with reference to the ministry, in the 2018/2019 marketing year, Ukraine exported a record 50.4 million tonnes of grain, legumes and flour, which is 23% more than in the previous MY.
The U.S. Department of Agriculture (USDA) in August raised its forecast for grain exports by 2.65 million tonnes compared with the July forecast, to 54.04 million tonnes.
Head of the parliamentary committee for finances, tax and customs policies Danylo Hetmantsev (from the Servant of the People parliamentary faction) has proposed to introduce a new type of issue-grade securities – bank certificates.
Bill No. 1112 on amending certain legislative acts regarding financial tools of banks was registered in the Verkhovna Rada on August 29.
The bill provides for two types of bank certificates – interest and discount.
Issue of bank certificates can be single and serial.
According to an explanatory note to the bill, a bank certificate combines the properties of a bank deposit and security. It has a convenient technological mechanism for issuing and servicing.
Unlike deposit certificates, a bank certificate will exist in a book-entry form and, therefore, have convenient mechanisms for accounting and circulation in the secondary market for its holder.
