The Black Sea Trade and Development Bank (BSTDB) predicts an economic decline in the Black Sea region of more than 5% of GDP in 2020 with a further recovery of 3-3.5% of GDP in the next two years, president of the bank Dmytro Pankin has said.
“What we know is that the Black Sea region (along with the rest of the world) is going to experience contraction in 2020, most likely in excess of 5%. However, due to the low base, we expect a rebound in 2021 and probably well into 2022, leading to growth averaging 3.0-3.5% in 2021-2022,” Pankin said in an exclusive interview with Interfax-Ukraine.
“Despite the contraction observed in 2020, there is still a robust demand for BSTDB financing, which our bank is happily providing, although the nature of the demand has changed. Many large-scale investments have been deferred, or even cancelled, and we are seeing more demand for direct corporate lending, and for support to SMEs through local financial institutions. We would expect this demand to increase as economies rebound in 2021 and 2022, in parallel to a rebound in larger investments and infrastructure operations,” the banker said.
“As we all know, relaxed monetary policies and expansionary fiscal policies have resulted in ample global liquidity, which benefits both developed and developing countries. As a development bank, we try to direct this cheap financing to real economic activities both in Ukraine and other countries,” he said.
“However, issues with political stability can inhibit or at best, postpone those investments. To fully take advantage of this ample liquidity Ukraine and all other countries need stability, working rule of law, good governance, and other related factors in place. This is particularly relevant for infrastructure investments,” he said.
The State Border Guard Service of Ukraine in 2020 did not allow more than 19,500 foreigners to enter Ukraine, head of the State Border Guard Service of Ukraine Serhiy Deineko said.
“Since the beginning of the year, for various reasons, we have not allowed more than 19,500 foreigners into Ukraine. In most cases, these are those who could not confirm the purpose of their travel, had restrictions on entry or illegally visited the occupied territories, exceeded their stay or traveled with invalid documents. The majority of foreigners are citizens of Russia, Moldova and Turkey,” Deineko said in an exclusive interview with the Interfax-Ukraine news agency.
According to him, more than 8,000 people were also identified, both Ukrainians and foreigners, who illegally visited the temporarily occupied Crimea.
“At the same time, it was the officers of the border department that issued more than 7,800 bans on entry to our country against foreigners for various violations. In addition, I will add that in 11 months we found more than 8,000 people – both Ukrainians and foreigners – who illegally visited temporarily occupied Crimea. We find up to 40 such people per day,” Deineko said.
The head of the State Border Guard Service explained that since the beginning of the illegal annexation of Crimea by the Russian Federation, the issue of illegal visits by Ukrainian and foreign citizens to the occupied territory has been raised. “At the same time, some of the foreigners then try to get to the territory of Ukraine under all sorts of pretexts, there are many clerisy people and actors among them,” he said.
“We have no alternative. Our position is principled: if a citizen of a foreign state visited the territory of the occupied Crimea, the occupied areas of Donetsk and Luhansk regions, contrary to Ukrainian legislation, he receives three years of a ban on entry into Ukraine and will not be allowed into the territory of Ukraine,” Deineko said.
If a citizen of Ukraine visits the relevant territories in violation of the law, he will be brought to administrative responsibility, the head of the department added.
On December 4, 2020, the winners of the XXI competition of professionals in the pharmaceutical industry of Ukraine “Panacea” were awarded. For the first time in history the award ceremony was conducted in a live stream, where viewers could join online and experience the event from home.
The pharmaceutical industry has always been a driver of Ukraine’s economy and is one of the top 3 fastest growing markets. This difficult year has made its adjustments. Thus during the opening of the live stream awards ceremony Maksym Stepanov, Minister of Health of Ukraine noted that the COVID-19 pandemic has become a challenge for all healthcare systems worldwide: “The pharmaceutical industry, as part of the system, is at the forefront of battling the coronavirus. Working as a coordinated mechanism, it carries out uninterrupted supplies of medicines. The problems of society were not left out either, directing social projects to equip hospitals, supply protective equipment for doctors, and so on. The challenges that life has posed on us have mobilised the pharmaceutical industry.”
Analysis of the activity of the pharmaceutical market, fixation of the main changes, determination of the leaders of the branch is the main goal of the Annual Competition of Professionals of the Pharmaceutical Industry of Ukraine “Panacea”. In 2020 they were:
1. Nomination “Online Search Engine for Ordering Medical Products” – a modern marketplace that received the trust of its clients and partners: Tabletki.ua.
2. Nomination “Educational Project of the Year” – Acino, with the project: Smart-Solutions in Medical Education: Auditorium of Dreams.
3. Nomination “Quarantine Project of the Year” – Apteka 9-1-1, with the project: Free Delivery of Goods for Mothers and Children.
4. Nomination “Project of the Year”:
a. Bionorica, with the Internet Resource for Pharmacists “Clinical Pharamcy”.
b. Teva, as the Leader in the Field of Cardiovascular Diseases in the Government Program “Accessible Medicines”.
5. Nomination “Social Project of the Year” – Acino, with the All-Ukrainian Social Project “Your Unlimited World”.
6. Nomination “Over-the-Counter Medicine of the Year”:
a. Among immunostimulants – Amixin IC, InterChem.
b. Among psychostimulants and nootropic drugs – Bifren, Acino.
c. Among the antigonatropic drugs – Mastodynon, Bionorica.
d. Among the remedies for the treatment of haemorrhoids for topical use – Relief, Bayer.
e. Among analgesics and antipyretics – Helpex, MoviHealth.
7. Nomination “Prescription Medicine of the Year”:
a. Among the agents used in gout, uric acid inhibitors – Adenuric, Berlin-Chemie Menarini.
b. Among psycholeptics – Gidazepam IC, InterChem.
c. Among non-steroidal anti-inflammatory and anti-rheumatic drugs, propionic acid derivatives – Dexalgin, Berlin-Chemie Menarini.
d. Among the angiotensin II antagonists and calcium channel blockers – Difors, Acino.
e. Among the psycholeptics derived from benzodiazepines – Levana IC, InterChem.
f. Among the anti-inflammatory drugs in combination with chondroprotectors – Movex Active, MoviHealth.
g. Among psychoanaleptics, sympathomimetics of central action – Nuvigil, Teva.
h. Among the antiparkinsonian drugs, dopamine antagonists – Pramipex, Acino.
i. Among the antiseptics and disinfectants – Septil, Vishfa.
j. Among the antibacterial agents, macrolides – Sumamed, Teva.
8. Nomination “Biologically Active Substances” – among vitamins: Supradyn, Bayer.
Art always heals the soul. The works of the artist Alexander Klymenko and his philosophical view became part of the design of “Panacea 2020”. Special performances were also prepared for the audience of the live stream. Radu Poclitaru is an artist whose productions are known for their bold experiments and attract attention with their unexpected reading of world-famous theatrical plots. The choreographer is famous for new forms and enrichment of modern dance. His Kyiv Ballet Theatre took part in the award ceremony this year. And the winners of the competition, as always, were waiting for awards made by the sculptor – Andriy Zigura.
The Organizers
Production Company Zdorovo is the organiser of the Annual Competition of Professionals of the Pharmaceutical Industry “Panacea” as well as the Marketing Business Conference of the Pharmaceutical Industry of Ukraine “Living Today”.
Until the end of 2020, the hryvnia will remain at the level of UAH 28/$1 with further strengthening to UAH 27-27.5/$1 in the first half of 2021, Oleksandr Martynenko, the head of the ICU Investment Group’s corporate financial analysis division, says.
“At the end of this year, as we expect, the upper possible corridor of the range will be UAH 28.5/$1, but most likely, the hryvnia will be closer to the lower range of UAH 28/$1,” Martynenko said during an online conference.
Speaking about the forecast of the exchange rate for 2021, Martynenko noted expectations of UAH 27-27.5/$1 against the background of exporters’ activity in the first half of next year, however, in the future, the transition to a deficit in the payment account may put pressure on the exchange rate.
“So far, the hryvnia is showing a higher resilience than previously expected. Mainly due to the greater activity of exporters and favorable markets for iron ore and steel,” he explained.
ICU expects capital inflows to resume in 2021 through private foreign investment and official borrowing. In addition, capital outflow will stop next year, Martynenko said.
“Foreign exchange reserves will increase, somewhere, by $ 3 billion, to $ 31 billion in 2021. That is, for the first time since the crisis of 2008-2009, the reserves should exceed 100% according to the metrics of a sufficient amount, which the IMF calculates,” Martynenko added.
The draft budget of Kyiv for 2021 provides for an increase in the revenue part by 1.3% in comparison with the expected implementation of the budget for 2020, to UAH 59.2 billion, expenses are planned at the level of UAH 56.6 billion, the press service of Kyiv City State Administration has said.
According to the report, the draft budget provides for the allocation of more than UAH 10 billion for infrastructure development, including UAH 3.4 billion for construction and reconstruction. Another UAH 1.5 billion was allocated for the municipal improvement sector.
“Due to this resource, it is planned to continue the construction of the metro line to the Vynohradar residential area, the Podilsky bridge crossing, the technical re-equipment of the Energia plant, the construction and reconstruction of preschool and educational institutions,” the director of the administration’s finance department, Volodymyr Repik, said.
According to him, spending on education accounts for 43% of the total forecast amount – UAH 24.1 billion, which is UAH 3.2 billion more than in 2020. In addition, the wage fund for teachers will amount to UAH 2.6 billion. In general, the wage fund for workers in the public and municipal sectors will increase by 26.3%.
The draft document also provides for the allocation of UAH 4.5 billion for social protection and security.
In addition, the budget provides for the repayment of UAH 2.7 billion of internal and external loans of the city.
The arbitration panel in the dispute between Ukraine and the EU regarding the ban on the export of unprocessed wood (logs) has recognized that Ukraine has the right to restrict the export of logs under certain circumstances, Deputy Minister of Economic Development, Trade and Agriculture, Trade Representative Taras Kachka has said.
“The arbitrators in the unprocessed wood case have made their decision regarding the ban on the export of logs. The arbitrators recognized that Ukraine is able and has the right to restrict logs exports under certain circumstances. So the existing export ban in 2005 was recognized by the court as fully legitimate,” Kachka wrote on his Facebook page.
He said that at the same time, the arbitrators recognized that the 2015 ban should be adjusted taking into account the full right of Ukraine to regulate this area of activity in accordance with Article 290 and Article 293 of the Association Agreement. Corrective actions should be carried out in cooperation with the EU.
“The decision of the arbitrators gives us wide freedom to choose the measures of execution of the decision. The cornerstone of its implementation will be the creation of a normal market within Ukraine. So, the first step should be the approval of the law of Ukraine on the unprocessed wood market (bill No. 4197-1) based on a government experiment to sell logs at auctions,” Kachka said.
