American Apple Inc. could launch the Apple Pay service of mobile payments in Ukraine in June 2018, co-founder of the Monobank project Oleh Gorohovsky has said. “PrivatBank starts first and then all the rest. According to my information, this may happen in June. There are some employees of PrivatBank whose iPhone test cards are already connected to Apple Pay,” he wrote on Facebook. According to Gorohovsky, Apple Pay will work in Monobank in a couple of months after the launch of the first bank. He also stressed that such are the features of launching Apple Pay in almost all countries.
The co-founder noted that Monobank clients actively use the Google Pay application and Monobank is one of the three leading banks in Ukraine in this indicator.
Earlier, the profile English-language portal AppleInsider reported, with reference to Apple Head Tim Cook, that U.S.-based Apple Inc. confirmed the launch of Apple Pay in Ukraine in the coming months.
The Apple Pay service allows paying for purchases using an Apple smartphone, to which the bank card is attached.
The International Monetary Fund (IMF) has retained its forecast for Ukraine’s GDP growth in 2018 at 3.2%, while it reviewed downwards the forecast for 2019 to 3.3% from 4%, according to the World Economic Outlook. The Parliament has ratified a guarantee agreement between Ukraine and the World Bank for a loan of $150 million. The World Bank has kept the forecast for Ukraine’s GDP growth in 2018 at 3.5%, Lead Economist and Program Leader covering Belarus, Moldova and Ukraine Faruk Khan said.
Ukraine’s GDP growth in 2018 is expected at 3.2% with inflation (December on December) of 9.7%, and next year it would slightly slow to 3.1% and accelerate in 2020 to 3.3%, according to the updated consensus forecast published by the Economic Development and Trade Ministry.
The deficit of Ukraine’s foreign trade in goods in February 2018 amounted to $457 million, while in January 2018 it was $284.1 million, the State Statistics Service has said.
Inflation in Ukraine in 2018 could again be larger than the National Bank of Ukraine (NBU) expected along with the expected increase in expenses on salaries, World Bank Economist for Ukraine, Belarus and Moldova Anastasia Golovach said in Kyiv.
Prices in the industry of Ukraine in March 2018 increased by 0.3%, while in February their growth was 1.2%, in January 4.4%, the State Statistics Service has reported.
The growth of consumer prices in Ukraine in March 2018 was 1.1% compared to 0.9% in February and 1.5% in January, the State Statistics Service of Ukraine reported.
The revenues of the national budget of Ukraine for the three months of 2018 amounted to UAH 193.567 billion, which is UAH 6.185 billion or 3.1% less than the target, the State Treasury Service of Ukraine reported on its website.
The growth of real GDP of Ukraine in the first quarter of 2018 in annual terms (quarter-over-quarter) was 2.3%, according to the assessments of the National Bank of Ukraine (NBU).
Industrial production in Ukraine in March 2018 grew by 1% compared to March 2017, while in February this figure was 1.9%, in January 3.6%, the State Statistics Service has said.
The volume of sold industrial products (goods, services) in January and February 2018 stood at UAH 402.975 billion, which is 16.3% more than in January and February 2017, in particular the volume sold abroad was worth UAH 108.704 billion (a decrease of 26.48%), the State Statistics Service has reported.
Ukraine’s retail trade turnover grew by 7.6% in comparable prices in January-March 2018 (Q1) year-over-year, the State Statistics Service said.
Consumer confidence index in Ukraine is growing for the fifth consecutive quarter: in Q4 2017 it reached 61 points, which is 3 points more than in Q3 2017 and 9 points more than in Q4 2016, according to the Nielsen global consumer confidence report.
The PR Group (Lviv), implementing a project on construction of the Sigma Park Yarychiv industrial park in Lviv region, plans to build at least 10 industrial parks with a gross area of almost 2,000 ha in two years and enter the Frankfurt Stock Exchange and the Singapore Exchange (SGX). “In addition to the park in Yarychiv, there will be 10 more industrial parks. The largest project for 560 hectares is located on the border of Lviv region in Rivne region. In Yarychiv there will be the smallest one – 15.7 hectares. In general, the entire portfolio of industrial parks is designed for almost 2,000 ha. We are planning to start all projects in two years. We are trying to make a stake on the social component. One of the projects will be located near Chervonohrad, Sokal, where the mines are closed and new jobs need to be created,” Managing Partner and co-owner of PR Group Roman Protsak told reporters on the sidelines of the Industrial Development and Construction Forum in Kyiv.
He said that the development company PR Development, which is part of the group, accompanies development of industrial parks. All the facilities will be united under the Sigma Park joint brand with the prefix of the name of the settlement near which they are located. This year, the company plans to provide two industrial parks for registration at the Ministry of Economic Development and Trade, and in 2019 to launch Sigma Park Yarychiv.
“There are already participants interested in locating their production facilities. Negotiations are currently under way with 48 companies. We will attract them on competitive terms. Each of them will present a development plan for the next 10 years, including offering the best conditions for employees’ salaries, Protsak said.
According to him, in August-September, the company will announce a tender for occupying land parcels in Sigma Park Yarychiv, in which only the food industry will be represented. The implementation of this project (greenfield) is at the utilities design stage. In other parks, the automotive, pharmaceutical, and other industries are located.
“We are currently using our own funds. We are not attracting credit resources, but we plan to enter foreign markets to raise funds through the sale of bonds… There are plans for two platforms – Frankfurt, Singapore and possibly additionally Warsaw. We plan to enter them in 2019-2020. One of our investment funds that deals with real estate in Ukraine and abroad will enter [the exchanges],” the co-owner of PR Group said. He said that the company had previously specialized in the construction of residential real estate, but three years ago, the co-owners decided to switch to commercial and industrial real estate.
FRANKFURT, INDUSTRIAL PARKS, OWNERS, SIGMA PARK, SINGAPORE, YARYCHIV
Ukraine in January-March 2018 increased goods flow with the European Union (EU) countries by 17.7% year-over-year, to $8.581 billion, the National Bank of Ukraine (NBU) has said on its website. The central bank said that both exports grew by 26.5%, to $4.058 billion and imports rose by 10.7%, to $4.523 billion. The deficit of balance of trade with the EU narrowed to $465 million from $878 million.
In addition, goods flow with Russia grew by 14.9%, to $2.615 billion. Imports rose by 28.4%, to $1.906 billion, while exports fell by 10.1%, to $0.709 billion. The deficit of balance of trade with Russia grew to $1.197 billion from $692 million.
The share of goods flow between Ukraine and the EU of total Ukraine’s foreign trade in January-March 2018 grew to 37.7% from 35.3% and with Russia to 11.5% from 11%.
In general, exports of goods from Ukraine in January-March 2018 grew by 10.4%, to $22.782 billion, imports – by 11.9%, to $12.359 billion and exports – by 8.6%, to 410.423 billion.
EU, GOODS FLOW, GROWS, RUSSIA, TRADE
Ukrainian President Petro Poroshenko has signed a bill on the ratification of the Guarantee Agreement (a draft access to long term finance project) between Ukraine and the International Bank for Reconstruction and Development (IBRD) passed by the Verkhovna Rada on April 5. “The agreement creates a legal framework for the development of cooperation between the parties, involving long-term investment resources in the economy of Ukraine in the amount of $150 million under state guarantees. The document calls for Ukreximbank to receive loans from the International Bank for Reconstruction and Development to provide Ukrainian small and medium-sized enterprises (SME) with medium and long-term financing for production needs: investment lending and working capital financing,” the press service of the President of Ukraine said last week.
The implementation of the access to long term finance project will have a positive impact on the development of SME, expansion of production capacities of the real sector, preservation of existing and creation of new jobs.
