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Volunteers are often called the backbone of Ukraine, because they provide the lion's share of the needs of people affect...
14/08/2022

Volunteers are often called the backbone of Ukraine, because they provide the lion's share of the needs of people affected by the war. Now the country needs this support more than ever. Dina Kazatsker, co-founder of the Monsters Corporation foundation, told Forbes about volunteering and how the foundation has been working without sleep or weekends for the past months.

How does affordable logistics help support a country's needs during wartime?In a joint special project with Novaya Posht...
14/08/2022

How does affordable logistics help support a country's needs during wartime?

In a joint special project with Novaya Poshta, Forbes talks about the drivers of the economy: Ukrainian retail business in the field of e-commerce, as well as important non-profit organizations. The "Monsters Corporation" charitable foundation told about its transformation.

"Monsters Corporation" was started as a small volunteer movement in Odesa that helped migrants from Donbas, low-income families, orphans and people in difficult life circumstances. In 2017, the movement was transformed into a full-fledged charity fund, and since the beginning of the full-scale war, it has been providing assistance to both civilians and military without interruption.

"Printing additional UAH 270 billion is highly undesirable for macro-financial stability," says Mykhailo Demkiv, a finan...
12/08/2022

"Printing additional UAH 270 billion is highly undesirable for macro-financial stability," says Mykhailo Demkiv, a financial analyst at ICU. Part of the funds will enter the foreign exchange market and will put pressure on the hryvnia, but, according to the analyst, the exchange rate will not collapse much.

"The government has two options: to attract the free liquidity of banks," says Yevgeny Dubogryz, an expert on banks and banking supervision, Case Ukraine, or issue. There are no legal mechanisms to force banks to direct these funds to the purchase of OVDP bonds." In his opinion, otherwise it will be difficult to attract additional UAH 270 billion.

Course on inflation and devaluationInternational aid, soft loans and significantly reduced exports do not have time to c...
12/08/2022

Course on inflation and devaluation
International aid, soft loans and significantly reduced exports do not have time to close the economic hole caused by the war. In order to finance expenses, the NBU has already printed 255 billion UAH since the beginning of the war, which affects the inflation rate and exchange rate. According to NBU forecasts, it will exceed 30% in 2022, and the hryvnia has already devalued by a quarter since the beginning of the war.

In July, the situation with the state budget of Ukraine became better, compared to previous months. The hryvnia issue also decreased in July - the NBU printed 27.5 billion hryvnias, which is four times less than in June.

But with the adoption of the draft law, the government will have to raise about UAH 70 billion every month. Is it possible without turning on the "machine" of the NBU?

The absolute majority of the funds, UAH 269 billion, will be directed to military needs. For the salaries of the militar...
11/08/2022

The absolute majority of the funds, UAH 269 billion, will be directed to military needs. For the salaries of the military - 145.3 billion UAH, GUR and SBU - 4.6 billion UAH. Another UAH 715 million will go to replenish the reserve fund of the state budget.

The planned budget of only the Ministry of Defense in 2022 is UAH 624.4 billion, which is five times more than in 2021, says the chairman of the Tax Committee, Deputy Danylo Hetmantsev. Ukraine spends approximately UAH 130 billion on defense every month, including military salaries. "Taxes and customs payments are not enough to cover all the military needs of the army," says an interlocutor in the leadership of "Servants of the People".

The draft law, which proposes to increase the amount of domestic borrowing in 2022 by UAH 270 billion, was developed at ...
11/08/2022

The draft law, which proposes to increase the amount of domestic borrowing in 2022 by UAH 270 billion, was developed at the initiative of the government and directly of the Ministry of Finance. The Verkhovna Rada can adopt it as early as next week.

The Ministry of Finance insists on a single reading, one of the authors of the draft law told Forbes on the condition of anonymity. "If it is about financing military needs exclusively, then the faction will support the law," says an interlocutor in the leadership of "Servants of the People" on the condition of anonymity. He will be supported by the "Voice" faction as well, if there are no additional amendments that do not concern the needs of the army, says party chairman Yaroslav Zheleznyak.

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