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• GDP Grew 4.2% Last Summer
• Port Cargo Jumps 20%
• PM Orders Privatization Fire Sale
• Green Light for Big Canadian Investment
• Rada OK’s 2020 Budget and Debt Agency
• Hryvnia Debt to Far Outstrip Dollar Debt
• Kolomoisky: IMF Deal Breaker?

Ukraine’s economy grew by 4.2% this summer y-o-y, indicating that the spring growth rate of 4.6% was not a fluke. First-quarter GDP growth was 2.5%, according to the State Statistics Service. The National Bank of Ukraine and the Economic Development Ministry recently upgraded their 2019 GDP forecasts to 3.5%. This would be triple the 1.1% forecast EU growth rate for 2019.

Through October, Ukrainian ports handled 20% more cargo than during the same 10 months last year, report the Sea Ports Authority. This is the biggest jump in six years and dwarfs last year’s increase of 2%. With bigger ships docking at Ukraine’s ports, the number of vessels was up only 2%, to 9,813.

Driving cargo to 130 million tons, grain exports were up 37%, to 44 million tons, and iron ore exports were up 33%, to 30.5 million tons. With dredging work complete at the nation’s five largest ports, the growth champions were: Pivdenyi (Yuzhne) +28% to 44 million tons; Mykolaiv + 20% to 27 million tons; Chernomorsk +23% to 21.1 million tons; and Odessa +19% to 20.7 million tons. On the Azov, Mariupol reversed a five-year decline and registered a 5.5% increase in cargo, to 5.3 million tons.

Prime Minister Honcharuk ordered ministries on Thursday to transfer at least 500 state companies to the State Property Fund of Ukraine by the end of December for privatization in 2020. At the same government meeting, Dmitry Sennichenko, the new head of the Fund, said five large privatizations are planned for 2020: Centrenergo, Elektrotyazhmash, Krasnolimanska Coal Company, Odessa Port Plant, President Hotel, and United Mining and Chemical Company, or OGKH. Of 3,643 state enterprises, the government intends to keep only 21%, or 776, said Pavlo Kukhta, deputy minister of economy, trade and agriculture development.

Unblocking Canada’s largest investment in Ukraine, Black Iron Inc. agreed with Ukraine’s Defense Ministry last week to buy a 12.6 km square parcel of land adjacent to the future iron mine in Kryvyi Rih. The Toronto-based mining company has agreed to pay for the land an undisclosed sum, which will be used to build military housing. In a first $463 million phase, Black Iron plans to produce 4 million tons of iron ore a year.

The Rada gave final approval Thursday to a $49 billion budget for 2020. The deficit will be 2.1% of GDP, within the IMF target. The budget includes a record $3 billion to be spent rebuilding and repairing roads. The government plans to earn $500 million from the sale of state companies in 2020.

The Rada also gave final approval Friday to the establishment of the Debt Agency of Ukraine, the Finance Ministry reports on  Facebook. Borrowing a government debt management model used in many EU countries, the Finance Ministry will set strategic goals only. The Ministry reports: “Acting as a separate central executive body, the Debt Agency will not be dependent on political factors, which is important for enhancing investor confidence and predictability of long-term public debt management processes.” Partly due to hryvnia appreciation, the public debt to GDP ratio is officially forecast to drop to 45% in 2020, down from 80% in 2016.

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In deep sadness, we announce that our long-time colleague Tetyana Bondarenko lost the battle against her serious illness on November 8.
With her, we lose not only an exceptionally qualified colleague from day one at HWC, who has held the position of Head of Accounting Group in our company in recent years, but also a warm-hearted and loving person with a positive attitude to life at all times, who has always taken care of the concerns of the collective and the people.
In this way, we would like to express our deepest condolences to her relatives, especially her husband and parents.
We will miss her very much and keep her memory with warmth and love.

Tanya,
You’re like a bright sunbeam
You warmed us with your warmth
You were a model of patience and positive attitude
And you have shown the right way in life

Your love has worked wonders
Even if you hid them behind threatening eyes
She changed us, she changed us forever
What helped us to get better in life

You left…
But in our memory you are alive
Also lives the seed, which you have planted in us
The seed grows and bears fruits…
YOUR fruits from this seed, which you have planted in us

With love from the entire HWC team

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С глубокой скорбью сообщаем, что 8 ноября проиграла битву с тяжелой болезнью наша коллега Татьяна Бондаренко.
Вместе с ней мы теряем не только исключительно квалифицированного специалиста, который в последние годы занимал должность руководителя бухгалтерской группы в нашей компании, но и светлого и любящего человека с позитивным отношением к жизни, который всегда заботился об интересах коллектива и других людей.
Таким образом, мы хотели бы выразить искренние соболезнования её родственникам, в частности супругу и родителям.
Мы будем очень скучать по ней и хранить ее в своей памяти с теплом и любовью.

Танюша,
Ты как яркий луч солнца
Своим теплом нас согревала
Была примером – терпенья, позитива
И в жизни на путь верный наставляла

Твоя любовь творила чудеса
Хоть и под грозным видом ты ее скрывала
Она меняла нас, меняла на всегда
Что, в жизни лучше стать нам помогала

Ты ушла…
Но, в наших душах Ты жива
Живет и то зерно, что Ты в нас посадила
Зерно растет, дает свои плоды…
ТВОИ плоды из тех зернят, которые Ты в нас и посадила

С любовью от всего коллектива HWC

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In tiefer Trauer teilen wir mit, dass unsere langjährige Mitarbeiterin Tetyana Bondarenko am 8. November den Kampf gegen ihre schwere Krankheit verloren hat.
Mit ihr verlieren wir nicht nur eine außerordentlich qualifizierte Kollegin, welche in den letzten Jahren die Position des Head of Accounting Group in unserem Unternehmen innehatte, sondern auch einen warmherzigen und liebenden Menschen mit allzeit positiver Lebenseinstellung, der sich stets um die Belange des Kollektivs und der Menschen kümmerte.
Auf diesem Wege möchten wir ihren Angehörigen, besonders ihrem Ehemann und den Eltern, unser tiefempfundenes Beileid aussprechen.
Wir werden sie sehr vermissen und ihr Andenken mit Wärme und Liebe wahren.

Tanya,
Du bist wie ein heller Sonnenstrahl
Du hast mit deiner Wärme uns gewärmt
Du warst Vorbild an Geduld und positiver Einstellung
Und Du hast im Leben den richtigen Weg gewiesen

Deine Liebe hat Wunder gewirkt
Selbst, wenn du sie hinter drohendem Blick verstecktest
Sie hat uns verändert, sie hat uns für immer verändert
Was uns half im Leben besser zu werden

Du bist gegangen…
Aber in unserer Erinnerung bist Du lebendig
Lebt auch das Körnchen, welches Du in uns gepflanzt
Das Körnchen wächst und es trägt Früchte…
DEINE Früchte aus diesem Körnchen, welches du in uns gepflanzt

In Liebe vom gesamten HWC-Team

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• Central Bank Cuts Prime
• Ukraine Climbs in World Bank’s Ease of Doing Business
• Russia’s MTS May Sell Vodaphone Ukraine to Azerbaijan’s Bakcell
• Bill Restricts All Gambling to Hotels
• New Flights: Kyiv-Cuba, Kherson-Vienna

Ukraine cuts its prime interest rate by one percentage point, to 15.5%, from 16.5%.  The fourth cut in six months comes as the central bank expects inflation to dip below 7% this month for the first time since 2016. The bank forecasts that inflation this year will end this year at 6.3%, and will end next year at 5%. “A more rapid decline in underlying inflationary pressure than anticipated coupled with no change in the balance of risks have made it possible to ease monetary policy somewhat more quickly this year than envisaged,” said the National Bank of Ukraine.

Despite the cuts, Ukraine still has the highest prime rate in Eastern Europe. Drawn by these high-interest rates, foreign investors have invested a net $3.5 billion in Ukrainian government hryvnia bonds since this start of this year. This influx of money has boosted the hryvnia against the dollar by 12.5%, making it the best performing currency against the dollar this year.

Almost half of Ukrainians believe the economy will improve over the next year, according to a survey of 2,500 people polled from Saturday to Tuesday. Of respondents, 45% believe the economy will improve over the next 12 months, 26% believe there will be no change, 15% say it will get worse, and 15% can’t say. “Against the backdrop of growing optimistic sentiments in the country after the presidential election, positive expectations about the future have also grown,” concludes the pollster, the Rating sociological group.

Real salaries will grow by 10% next year, predicts the Ministry of Economic Development, Trade, and Agriculture.  Exports of goods and services will climb by 7-8% next year. The central bank has raised its GDP growth forecasts to 3.5% for this year and 2020; and to 4% for 2021.

Worked into the central bank’s growth forecasts is the prediction that Ukraine will sign an agreement with the IMF and receive a tranche by the end of 2019. “The macro forecast we made public provides for the signing of an agreement with the IMF this year and the tranche this year,” Yakiv Smoliy, governor of the National Bank of Ukraine told reporters Thursday.  The bank also stated: “The volume of international reserves, despite significant payments on external debt, will fluctuate around $23-24 billion in this and subsequent years, which is enough to finance future imports for three months.”

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Dr. Thomas Winkelmann, Managing Partner and co-founder of Henniger Winkelmann Consulting, recently celebrated his 30th anniversary in the Ukraine.

30 years of active participation in the development of the economy of the independent Ukraine was the occasion for many colleagues, partners and friends from three decades, as well as representatives of Ukrainian and international organizations, to raise the glass with him, to convey congratulations personally or to convey them in writing or as a video message. The presentation of the honorary needle of the Ukrainian Chamber of Commerce and Industry by its President Mr. Gennadiy Cizhikov, honorary certificates of the State Secretary in the Ministry of Economy of Ukraine and of the GDIP at the Ministry of Foreign Affairs of Ukraine are an expression of the appreciation of this activity.

The registration of one of the first foreign enterprises in Ukraine; his initiative to establish the first circle of the German economy in Ukraine, which is considered the predecessor of the Delegate Office of the German Economy and the present German-Ukrainian Chamber of Commerce and Industry; cooperation in the establishment of the Ukrainian office of the International Chamber of Commerce (ICC), licensing and realization of the first edition of INCOTERMS in Ukrainian during his activity as an advisor to the President of the Association of Ukrainian Entrepreneurs are only some milestones. Over the past 20 years, his activities have focused primarily on realigning and developing a large number of Ukrainian companies and supporting Western companies in entering the Ukrainian market.

 

30 років життя і роботи в Україні!

Др. Томас Вінкельманн, керуючий партнер та співзасновник Henniger Winkelmann Consulting, відсвяткував свою 30-ту річницю перебування в Україні.

30-річчя активної участі у розвитку економіки незалежної України для багатьох колег, партнерів та друзів, як з Українських так і з міжнародних організацій, стало приводом підняти келихи за здоров’я юбіляра та привітати особисто, письмово, або навіть відеозверненням. Геннадій Чижиков, президент Торгово-промислової палати України, у знак вдячності за діяльність презентував Др. Вінкельманну почесну грамоту Державного секретаря в Міністерстві економіки України та ГДІП при Міністерстві закордонних справ України.

Реєстрація одного із перших іноземних підприємств в Україні; ініціатива у заснуванні першого Клубу Німецької Економіки в Україні, який вважається попередником Делегації Німецької Економіки, нині Німецько-Української Торгово-Промислової Палати; кооперація у заснуванні Українського Національного Комітету Міжнародної Торгової Палати (ICC); ліцензування та реалізація першого видання INCOTERMS в Україні під час його роботи радником Президента Союзу Підприємців України,  –  це тільки декілька основних етапів розвитку. Протягом останніх 20 років діяльність Др. Вінкельманна була передусім зфокусована на реорганізації і розвитку великої кількості Українських компаній та підтримці західних компаній, що виходять на ринок України.[:de]