Business news from Ukraine


The Kyiv city authorities initiate the extension of benefits and simplification of procedures to support small and medium-sized businesses, which were adopted by Kyiv City Council in March 2020.
They will be submitted for consideration by the deputies of the newly elected Kyiv City Council, the press service of Kyiv City State Administration reported.
“Today we have gathered with business representatives to discuss problematic issues that have arisen in connection with the weekend quarantine. I want to note that the city is interested in keeping the quarantine as low as possible. The city budget, like business representatives, incurs losses due to restrictions on the activities of entrepreneurs and non-payment of taxes. In the spring, within the limits of our authority, we introduced a set of measures to support small and medium-sized businesses. Our main task now is to continue these benefits until the end of quarantine. We are honest with our entrepreneurs, we are partners. By joint efforts we will be able to achieve the desired result,” deputy chairman of Kyiv City State Administration Oleksandr Kharchenko said.
At the same time, he reported that in order to reduce the rate of the virus spread, it is necessary that patients and contact persons strictly adhere to quarantine and self-isolation.
In turn, representatives of the restaurateur community reported that the benefits introduced by the city in March 2020 made it much easier for them to bear the first quarantine restrictions.
Participants in the meeting also discussed the main problematic issues, and based on its results, clear positions were formed, on the basis of which the relevant department will develop a plan for further actions.

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Ukrainian businesses expect a slowdown in inflation and not so strong devaluation of the national currency, according to findings of a regular survey of business expectations, conducted by the National Bank of Ukraine in the second quarter of this year. “The average forex rate in 12 months is UAH 28.82 per U.S. dollar (the forecast given in Q1 was UAH 29.32 per U.S. dollar),” the NBU said in a document.
According to it, if in the first quarter of this year, respondents estimated inflation in the next 12 months at 9%, their forecast given in the second quarter is 7.7%.
The National Bank adds that Ukrainian companies have also improved their expectations for economic growth in Ukraine and the development of their own business, although the Business Expectations Index (BEI) for the next 12 months slid slightly to 117.8% from 119.7% a quarter earlier.
According to the survey, entrepreneurs began to better assess their current financial and economic situation – a positive response balance of 12.6% versus 8% in the first quarter. They expect to improve the situation thanks to the increase in production and sales, primarily for export. In this connection, companies plan to increase investment in equipment and more actively borrow funds.

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