The National Bank of Ukraine (NBU) will continue to study the possibility of issuing its own digital currency – e-hryvnia, the NBU has said, with reference to the results of a pilot project in which the regulator released a limited amount of electronic hryvnia, operations using which were tested by working groups with the participation of the regulator, volunteer companies and the World Bank.
According to the results of the pilot project, the National Bank believes that e-hryvnia can be considered as an alternative to the available means and instruments of retail payments, including cash, payment orders, payment cards and electronic money. The advantages of e-hryvnia are ease of use, availability, security (redemption and payments are guaranteed by the National Bank) and the speed of payments.
The electronic hryvnia can be considered as the so called disruptive technology, since it can potentially significantly change the ecosystem of the payment market of Ukraine and redistribute the existing roles of market participants.
Ukraine raised steel roll production 2.2% year-on-year in January-May 2019 to 7.891 million tonnes, according to preliminary data.
The Ukrmetallurgprom (Dnipro) association told Interfax that crude steel output rose 7.6% to 9.334 million tonnes and pig iron production increased 2.7% to 8.744 million tonnes.
Pig iron production was 1.698 million tonnes in May alone, down 9.3% from April, roll production was 1.71 million tonnes, up 4.3%, and crude steel 1.89 million tonnes, down 4.7%.
Ukraine raised roll output 1% to 18.446 million tonnes and pig iron 2% to 20.531 million tonnes in 2018. Crude steel production fell 2% to 21.06 million tonnes.
The passenger flow of the Zaporizhia international airport in May 2019 totaled 50,000 people, which is almost 40% more than a year ago.
According to a posting on the website of the airport, almost 40,000 passengers (a rise of 40%) were serviced on international routes, and 9,700 passengers (a rise of 35%) on domestic routes.
In January-May 2019, a total of 185,000 passengers used the airport’s services, which is 20% more than a year ago. Over 136,500 persons were serviced on international flights and almost 50,000 – on domestic flights.
As reported, the Zaporizhia airport serviced 400,300 passengers in 2018, which is 15% more than in 2017.
Ukrainian President Volodymyr Zelensky has proposed introducing criminal liability in the form of jail terms from five to 10 years for illegal enrichment and for changing the procedure of confiscating illegally obtained property from officials.
Corresponding presidential bill (No.10358) on amending some legislative acts regarding the confiscation of illegal assets of persons authorized to perform the functions of the state or local self-government and punishment for acquiring such assets was submitted to parliament on Monday. The text of the document was published on the parliament’s website on Tuesday.
For an official acquiring assets worth more 12,000 non-taxable minimum incomes of citizens exceeding his income, the bill proposes punish with imprisonment from five to 10 years with the deprivation of the right to hold certain positions or engage in certain activities for up to three years.
Corresponding Article 3685 “Illegal enrichment” is proposed to be introduced into Ukraine’s Criminal Code.
The draft law proposes amendments to the procedure for filing a claim for recognition of unjustified assets and their recovery into state revenue. The corresponding lawsuit will be filed by a representative of the National Anti-Corruption Bureau of Ukraine (NABU) in coordination with the Specialized Anti-Corruption Prosecutor’s Office (SAPO).
Current legislation provides that a lawsuit on the recognition of assets as unfounded may be brought against an official, in respect of whom a court conviction entered into legal force for committing a corruption offense or legalizing proceeds from crime. Under the current law, prosecutor takes measures to establish property to whom there is evidence that the person involved in the case received it, uses or disposes of it.
The new edition of this provision provides that a lawsuit is filed against unjustified assets received after the entry into force of the law, if it is enacted, and also within three years before the law enters into force, if the difference between the value of the assets and the official’s income exceeds 500 or more times the size of the subsistence minimum for able-bodied citizens.
Cases on the recognition of unjustified assets and their recovery in state revenue will be investigated by the Supreme Anti-Corruption Court.
