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11.07.2008
Ministry Of Economy Predicts Positive Impact Of Hryvnia Rate Strengthening On Inflation Rate Slowing
The Ministry of Economy of Ukraine predicts a positive impact of hryvnia rate strengthening on inflation rate slowing in the second half of 2008.
Ukrainian News learned this from the press release of the Ministry of Economy.
"The Ministry of Economy has estimated disinflation impact on revaluation at 1.5 - 2 percentage notches in 2008," the press-release states.
"This will promote reduction in inflation dynamics in the second half of the year and hence, will lead to getting down inflation backdrop in economy as a whole," the Ministry says.
11.07.2008
President Viktor Yuschenko proposes Verkhovna Rada to adopt his draft of amendments to the state budget-2008, the Presidential press- service announced.
The amendments to the state budget-2008 the Cabinet of Ministers introduced to Verkhovna Rada entail certain risks, the President said.
Thus, the Cabinet of Ministers' draft underestimates income by understating macroeconomics indices, the President said.
The Cabinet predicts inflation rate at 15.9% in 2008 while in January-June it stood at 15.5%.
The Cabinet's draft does not project sufficient funds to implement the program of providing population with accessible housing, to purchase grains to the Agrarian Fund, to balance Naftohaz Ukrainy financial flows, to upgrade homeland information security and enhance military efficiency of the Ukrainian Armed Forces, and quality of education, Yuschenko said.
The President corrected these shortcomings in his draft and proposes Rada to reorient financial flows to investments, the press-service said.
25.06.2008
Ukraine has called for creation of a single European energy market.
The presidential press service announced this in a statement.
"Ukraine is proceeding from the fact that such challenges as energy challenges can be overcome not in a bilateral format, but via a single, joint European policy," President Viktor Yuschenko said in Lisbon (Portugal) on Monday during an official visit.
Yuschenko said that Ukraine would do everything it could to support collective measures aimed at creating a single market of natural gas and electricity.
Yuschenko stressed Ukraine's unique transit potential and said that Ukraine is presently holding talks with the European Union on modernization of Ukraine's gas transport system.
Yuschenko noted that Ukraine recently signed a memorandum on linking its national energy system to the European Union energy system.
25.06.2008
The Agricultural Policy Ministry hopes that the Agrarian Fund will begin purchasing grain crops harvested in 2008 from July.
Agricultural Policy Minister Yurii Melnik has announced this at a press conference.
"From July 1 the Agrarian Fund starts working at the agrarian exchange. I think, this is even a bit early," he said.
Yu. Melnik explains his opinion with that harvesting of wheat will be launched after first ten days of July.
The minister noted, the Agrarian Fund now has UAH 150 million to make purchases and this must be enough for six weeks of operation: the minister expects the parliament will pass amendments to the state budget for this period so the Agrarian Fund's expenses extended to UAH 1 billion.
As Ukrainian News earlier reported, the State Material Reserves Committee decided to hold the first tender for purchasing 200,000 tons of grain harvested in 2008 on July 16.
17.06.2008
In May, real gross domestic product rose by 7.2%, compared to May 2007, to UAH 81.508 million.
This was disclosed by the State Statistics Committee.
In January-May GDP rose by 6.4%, compared to January-May 2007, to UAH 348.083 million.
In January-May the major GDP growth was due in trading, it amounted to 15.8%, in refining industry by 9.5% and in transport by 7.9%.
As Ukrainian News earlier reported, in April, real gross domestic product rose by 6.7%, compared to April 2007, to UAH 76,807 million.
In January-April GDP rose by 6.2%, compared to January-April 2007, to UAH 266,575 million.
11.06.2008
President Viktor Yuschenko is insisting on introduction of private ownership of agricultural lands.
He announced this when opening the XX International Exhibition AGRO-2008.
"Private ownership of land must be a golden rule for farmers and politicians should do everything in order to this right be sacred, respected, and protected," he said.
The president stressed, all the talk about Ukraine not ready to run the land market bring forth colossal corruption at this market.
10.06.2008
The Cabinet of Ministers has allowed coal enterprises to repay the interest-free loans they obtained from the government in installments until the year 2009.
This is stated in the Cabinet of Ministers resolution No. 507 of June 4.
This Cabinet of Ministers resolution made the relevant amendments to the Cabinet of Ministers resolution No. 698 of May 19, 2006, that defined the mechanism for repaying the government loans that were provided to coal enterprises (excluding coal mining enterprises) in 2005.
The government loans were provided to enable coal enterprises to pay their wage debts.
09.06.2008
Vanco Prykerchenska Ltd (Virgin Islands) refutes Ukrainian Premier Yulia Tymoshenko's statement about the engagement of Cabinet officials in company's activity, a Vanco Prykerchenska Board member Maksym Tymchenko told a press conference.
"None of the officials of either former or current Cabinet of Ministers, or their relatives, are company's shareholders. This is an official statement in response to the questions about corruption", he said.
Negotiations between the Cabinet of Ministers on arbitration against Ukraine have not started yet, Vanco Prykerchenska Board of Directors Chairman Gene Van Dyke declared.
At the same time, he noted that the company was holding a dialogue with the government about the conflict with the Black Sea shelf exploration. "The matter concerns the dialogue rather than negotiations. We want to explain our stance and answer all the questions", he said.
On June 5, company representatives met with Raisa Bohatyreva, Secretary of the National Security and Defense Council of Ukraine.
On Friday, June 6, the Interdepartmental Commission formed by President Viktor Yuschenko was to discuss the settlement of conflict with Vanco International, Gene Van Dyke said.
In his turn, Tymchenko, a project investors' representative at the press-conference, stressed on the lack of issues to be negotiated between Vanco Prykerchenska and the government.
06.06.2008
Verkhovna Rada Chairman Arsenii Yatseniuk forecasts that inflation will exceed 16% and the GDP will grow by 6-7% in 2008.
He announced this at the fifth Ukrainian investment forum entitled "Ukraine-2008: reality and prospects" organized by Alfa Bank.
"Inflation will be high for sure. I expect it to soar the last year's level... The GDP will grow by 6-7%," he said.
Yatseniuk said that major factor provoking inflation growth is increase of prices for energy carries and foodstuffs.
In summer, inflation will slow down and be about 1%, the speaker said.
Yatseniuk also said that inflation may be scotched via reduction of budget social expenses and also increase of commodity supply.
As Ukrainian News earlier reported, in April, inflation made up 3.1% and 13.1% in January-April 2008.
In 2007, inflation made up 16.6%, 11.6% in 2006 and 10.3% in 2005.
05.06.2008
Auditors of the European Organization of Supreme Audit Institutions, EUROSAI, accuses Ukrainian government and the European Bank for Reconstruction and Development of failure to timely provide works foreseen in the plan of activities at Shelter facility over the fourth reactor of Chornobyl nuclear power plant.
Audit Chamber press service announced this in a statement.
On June 3, Polish Krakow hosted the seventh congress of the EUROSAI, whose delegates signed joint report on results of the international audit of Shelter Chornobyl fund.
The auditors consider Shelter fund's financing insufficient.
"As of January 1, 2008, Shelter fund payments exceeded EUR 300 million, of which only 51% was sent for works at Shelter facility... Besides, EUR 100 million was used from the account of nuclear security and European Commission's TACIS program funds, but of 133 contracts only 86 were implemented," the report reads.
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