Politics & Economics

Ukraine’s draft state budget for 2025 envisages more than UAH 55 billion for the production of weapons and military equipment. Minister for Strategic Industries of Ukraine Herman Smetanin announced this on Telegram, Ukrinform reports. "At its meeting, the government endorsed the draft state budget for 2025. A total of over UAH 55 billion has been earmarked for the production of weapons and military equipment. This is more than was allocated for this year," he wrote. The draft budget provides for UAH 54.55 billion to be allocated for the development of production, development and implementation of new technologies, and an increase…

Ukrainian Strategic Industries Minister Herman Smetanin and EU High Representative for Foreign Affairs and Security Policy Josep Borrell have discussed the issues related to integrating Ukraine’s defense industry into the European defense sector. The relevant statement was made by Ukrainian Strategic Industries Minister Herman Smetanin on Telegram, an Ukrinform correspondent reports. “I was glad to welcome to Ukraine EU High Representative for Foreign Affairs and Security Policy Josep Borrell and Ambassador of the European Union to Ukraine Katarína Mathernová. We met to discuss the European Union’s support for Ukraine’s defense industry, as well as integrating Ukraine’s defense industry into the…

Ukraine is close to setting up three new joint ventures with European weapons producers, and five joint ventures have already been set up. Ukraine's First Deputy Prime Minister and Economy Minister Yulia Svyrydenko in an interview with Reuters, Ukrinform reports. Svyrydenko stated that five joint ventures with Western weapon producers had already been set up, including with German and Lithuanian companies. "We have three more agreements with European companies in the final stages to set up joint ventures," Svyrydenko said, giving no details about the planned new ventures or the scale of the investments. Read also: Draft state budget for…

Despite the sanctions imposed on Russian invaders, the coal stolen in the temporarily captured Luhansk region continues to be exported to several countries. The Eastern Human Rights Group announced this on Facebook, Ukrinform reports. "Enterprises from the occupied Luhansk region, despite the imposed export restrictions, export mined coal to Turkey, Indonesia, Egypt, Algeria and Uzbekistan. This is according to the reports of the Russian occupation customs service," the post reads. Read also: Russians set to export over 300t of sunflower crop from occupied Luhansk region - watchdog In addition, according to the occupiers' reports, China, India, Latvia and Turkey are…

In the Mykolaiv region’s de-occupied Snihurivka community, 90% of small and medium-sized enterprises (SMEs) have resumed operations. The relevant statement was made by Snihurivka City Military Administration Head Ivan Kukhta in a commentary to an Ukrinform correspondent. “Prior to the war, the community’s industrial potential consisted of processing enterprises, such as a butter factory, mineral water bottling plant, flour production enterprise, bread factory, Agrofusion tomato processing group of companies, etc. As a result of hostilities, all of them suffered significant damage and suspended operation. But, as of today, 90% of SMEs have resumed operations,” Kukhta told. According to Tetiana Tereshchuk,…

Over the past two years, the number of those who started their own business or registered as an individual entrepreneur has increased in the Zhytomyr region’s city of Berdychiv. The relevant statement was made by Berdychiv Mayor Serhii Orliuk in an interview with Ukrinform. “The number of people who start entrepreneurial activities is increasing in the community. We had 3,647 individual entrepreneurs at the end of 2022, 4,342 – in 2023, and 4,516 – in 2024,” Orliuk told. In his words, all enterprises are steadily running in the city. As an example, the mayor mentioned a Polish-invested enterprise, Miasovyta LLC,…

Officials from the Ministry of Finance of Ukraine, the National Bank of Ukraine, and staff from the International Monetary Fund have commenced discussions on the sixth review of the Extended Fund Facility (EFF) Arrangement. That is according to the Ministry of Finance of Ukraine, Ukrinform reports. The mission's objective is to assess Ukraine's progress in meeting the conditions of the EFF and prepare for the sixth review of the Memorandum on Economic and Financial Policies. For this review, Ukraine should meet four structural benchmarks: conduct a review of pre-war policies and practices for medium-term budget planning, assess financial risks to…

At the end of July, banks issued the first loans to businesses and households for building their own mini power plants under state preferential loan programs. The state fully covers interest on loans for purchasing solar and wind power equipment, providing benefits to the population. In a brief interview with Ukrinform, Serhii Nahorniak, MP, a member of the Verkhovna Rada Committee on Energy and Housing and Communal Services and Head of the Subcommittee on Energy Conservation and Energy Efficiency, highlighted the need for further development and simplification of these programs. He assures that the state will fulfill its obligations. –…

Ukrgasvydobuvannya JSC, which is part of Naftogaz Group, has put into service a new appraisal-development well that is 5,920 meters deep and has a daily production rate of 110,000 cubic meters of natural gas. The relevant statement was made by Naftogaz Group’s press service, an Ukrinform correspondent reports. “Through the use of modern field development approaches, we have got a good result. It is worth noting that the field where the well had been drilled is over 45 years old. I am grateful to the entire team for dedication and hard work. We are confidently moving towards our goal –…

Due to the threat of a missile strike, emergency power outages have been introduced in Kyiv. This was announced by the Kyiv City Military Administration on Telegram, Ukrinform reports. “In connection with the threat of a missile strike, schedules of emergency power outages have been introduced in Kyiv. This is a preventive measure,” the report says. Later, DTEK Group clarified that emergency power outages are being introduced in Kyiv, as well as in Kyiv, Odesa, Donetsk and Dnipropetrovsk regions. Read also: Air raid alert goes off across Ukraine “Preventive emergency power outages are being introduced on the instructions of Ukrenergo.…