Business news from Ukraine

Business news from Ukraine

REVENUE OF LOCAL BUDGETS’ GENERAL FUND IN JAN-JUNE 2019 AMOUNTES TO UAH 128.8 BLN

Revenue of the general fund of local budgets in January-June 2019 amounted to UAH 128.8 billion, excluding intergovernmental transfers, which was 19.6% higher than last year’s figures for the period, Ukraine’s Finance Ministry has said in a macroeconomic review for the first half of the current year. “The general fund of the local budgets excluding intergovernmental transfers received UAH 128.8 billion, which is 19.6% more than last year due to higher wages and business invigoration,” the Finance Ministry said.
As the State Treasury Service said, the local budgets in the first half of this year received UAH 283.58 billion in revenue. This includes UAH 264.95 billion (inclusive of intergovernmental transfers) sent to the general fund. Spending of the local budgets for this period amounted to UAH 261.48 billion, including UAH 225.75 billion taken from the general fund.
Among tax revenues, the largest growth in revenue transferred to the local budgets showed actual real estate tax payments, which grew by 32% compared to last year’s figure, up to UAH 2.108 billion.
The balance of the local budgets on deposit accounts at banks at the beginning of July amounted to UAH 7.6 billion, the review said. Funds from the general fund of the local budgets on deposit accounts shrank to UAH 3.4 billion, compared to UAH 8.6 billion in the first half of 2018, because the Cabinet of Ministers banned depositing assets of the general fund at banks this year.

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12,000 HOUSEHOLDS INSTALL SOLAR PV PANELS IN UKRAINE

There were about 12,000 households using solar photovoltaic (PV) panels with a total capacity of about 280 MW in Ukraine as of July 1, 2019, the press service of the State Agency on Energy Efficiency and Energy Saving of Ukraine said on Tuesday.
“The volume of households’ investment in 280 MW solar PV panels reached more than EUR 240 million,” the press service quoted head of the Agency Serhiy Savchuk as saying.
According to him, more than 3,000 households installed solar PV panels with a total capacity of over 85 MW in the second quarter of 2019 alone.
“This is more than twice up on the first quarter of this year (1,400 households),” Savchuk said.
Leaders in installing solar PV systems by households are Dnipropetrovsk (more than 1,500 systems with about 40 MW). It is followed by Ternopil region with more than 1,200 systems with about 33 MW and Kyiv region with the city of Kyiv with more than 1,000 households that installed solar PV panels whose total capacity is about 20 MW.
“Given that there are 6.5 million households in Ukraine, the potential for the market for using solar panels is considerable,” the agency added.

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UKRAINIAN AVIATION SERVICE ALLOWS WINDROSE, ATLASJET-UKRAINE TO FLY FROM KYIV TO TEL AVIV

The State Aviation Service of Ukraine has approved the applications of Windrose and Atlasjet-Ukraine airlines for flights on the Kyiv-Tel Aviv route (Israel), as well as SkyUp (all based in Kyiv) for Lviv-Tel Aviv and Zaporizhia-Tel Aviv flights. According to the website of the service, Windrose can operate flights from Kyiv to Tel Aviv and back on a charter basis (16 flights a week) from September 23 to October 6, 2019.
Atlasjet-Ukraine can fly from Kyiv to Tel Aviv and back on a charter basis (seven flights a week) from September 25 to October 3, 2019.
SkyUp can fly from Lviv and Zaporizhia to Tel Aviv and back on a regular basis (three times a week) from October 1, 2019.
Earlier, on July 26, the State Aviation Service from 00:00 (UTC) on July 27, 2019 suspended the certificate of an operator of the cargo airline Europa Air LLC (Kyiv, No. UK 046).

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OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF JULY 30

Official rates of banking metals from national bank as of july 30

One troy ounce=31.10 grams

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 30/07/19

National bank of ukraine’s official rates as of 30/07/19

Source: National Bank of Ukraine

REAL WAGES IN UKRAINE IN JUNE 8.1% UP

Real wages in Ukraine in June 2019 increased by 8.1% year-over-year, while compared with May 2019 increased by 5.8%, the State Statistics Service has reported.
According to the service, the average nominal wage of full-time employees in June 2019 compared with the previous month increased by 5.3%, in annual terms – by 18%, reaching UAH 10,783.
The authority said that in May 2019 it amounted to UAH 10,239, in April – UAH 10,269, March – UAH 10,237, February – UAH 9,429, January – UAH 9,223.
According to the statistics department, the largest increase in the average wage of full-time employees in June 2019 compared with June 2018 was observed Donetsk (27.7%), Sumy (20.2%), Dnipropetrovsk (20%), Kharkiv, Mykolaiv and Zaporizhia (by 19.9%), Volyn (19.3%), Poltava (by 18.6%), Rivne (18.2%, Vinnytsia (18.1%), Kherson (17.7%) and Kyiv regions (17.4%).
The highest level of wages in May was recorded in Kyiv city – UAH 15,650, and the lowest – in Kirovohrad region (UAH 8,574). Meanwhile, the average wages of the employee in Donetsk region totalled UAH 12,483 and UAH 9,013 in Luhansk region (except for temporarily occupied territories).
In June 2019 compared with the same month of 2018, wages increased the most in arts, sports, recreation activities (by 32.2%), in the field of IT and telecommunications (by 25.5%), in real estate business (by 24.2%), healthcare (by 21.8%), industry (by 21.8%), construction (by 21.1%), professional, scientific and technical activities (by 20.5%), in the field of temporary accommodation and catering (by 19.1%), administrative and support services (by 18.9%), in transport, warehousing, postal and courier activities (by 18.6%), in agriculture (by 18.5%).