Philip Morris International, one of the leaders in the global and Ukrainian tobacco market, currently considers it unsafe to resume production at its factory near Kharkiv (Dokuchayevske village, Kharkiv district, Kharkiv region) and plans to launch alternative production in the country, said Philip Morris International (PMI) President for Europe Region Massimo Andolina. “We consider it … Read more
South Korea signed a preliminary agreement on $8 billion in funding for Ukraine on “extremely favourable terms,” the Ministry of Economy of Ukraine reported on May 17. The funding will be allocated for the post-war reconstruction of the country. The two countries signed the preliminary deal with the Economic Development Cooperation Fund (EDCF), a special division of the Korea … Read more
The European Commission has included Ukraine’s economy in its economic forecasts for the first time, according to the European Economic Forecast, Spring 2023, released on May 17. Along with Ukraine, the European Commission has also assessed the economies of Moldova and Bosnia and Herzegovina, which were also granted candidate status for EU membership. According to the EU Commission’s … Read more
Just as it was about to expire, the Black Sea Grain Agreement has been extended for a further two months, Turkish President Recep Tayyip Erdogan said in a Telegram post on May 17. “With the efforts of our country, the support of our Russian friends, and the contribution of our Ukrainian friends, a decision has been … Read more
President of Türkiye, Recep Tayyip Erdoğan, announced the extension of the Black Sea grain initiative for another two months until July 18. Without the extension, the agreement would have expired automatically on Thursday, May 18. With the efforts of our country, the support of our Russian friends, the contribution of our Ukrainian friends, it was … Read more
It will take $411 billion to cover Ukraine’s reconstruction costs after the full-scale Russian invasion of Ukraine, the UN revealed in a report titled “World Economic Situation and Prospects as of mid-2023”, published on May 16. “The longer-term outlook for Ukraine will depend on the duration and intensity of the war and its ability to finance reconstruction, with … Read more
The hryvnia forex rate and inflation will improve in Ukraine in 2023, with the economy growing by 3%, analysts from the Dragon Capital investment company said in their updated economy forecast for June. The favorable macroeconomic background and the improvement of the situation on the foreign exchange market create opportunities to return to limited exchange … Read more
The Ukrainian delivery company Nova Post is entering another foreign market. The Czech Republic is the next on the line. The first two Nova Post branches will be open in June in the capital of Czechia, Prague. One department will be able to receive parcels weighing up to 30 kg, the other will be a … Read more
The five-year recovery period of Ukraine will require additional investments of about 50 billion US dollars per year. The EBRD reports this. “The latest European Bank for Reconstruction and Development (EBRD) Regional Economic Prospects report presents a scenario that demonstrates, based on the lessons of history, that the five-year recovery period will require an additional … Read more
From June 1, Ukraine will launch an electronic logging ticket and a certificate of wood origin. Yuriy Bolokhovets, the general director of the “Lisy Ukrainy” [Forests of Ukraine – ed.] State Enterprise, reported this on Facebook. “The government adopted a resolution on launching an electronic logging ticket and a certificate of wood origin. Our State … Read more