The metallurgical and metalworking industry has been one of the pillars of the Ukraine’s economy, but the war and the sea blockade are driving it into a deep crisis. In the industry, enterprises pessimistically assess their business activity and business climate; they continue to reduce production and exports.
Russia. The word still evokes images of conspiracy behind gray concrete blocks, while a strong military marches through the streets in a tour de force of the iron hand that rules the harsh country. The Kremlin was working hard to ensure that this stereotype, of influential and ruthless Soviet toughness, is exaggerated. Disinformation, ostentatious secret service operations and bellicose rhetoric all served this illusion.
In recent weeks, the topic of Russian travel into the European Union has become the subject of public debate in Estonia and Finland. Many Russians are taking advantage of the fact that the Finns lifted the pandemic restrictions this July as the opening of the Finnish-Russian border is an opportunity for them to use Finland as a transit point to other European countries.
In March, Ukraine’s government adopted the Action plan for reforms in 2015 and 2016 while the IMF board approved four-year USD 17.5 bn extended arrangement under the Extended Fund Facility (EFF). The EFF supports ambitious program of Ukrainian authorities, which would in IMF words ‘put the economy on the path to recovery, restore external sustainability, strengthen public finances, and support economic growth by advancing structural and governance reforms, while protecting the most vulnerable’.