Daily monitor

According to a note from the State Statistics Committee of Ukraine, the merchandise deficit grew in January-April 2009 to USD 1.94 bln as compared to USD 1.44 bln in January-March 2009.

The government of Ukraine has approved an increase of the statutory capital of the state-owned oil and gas monopoly Naftogaz Ukrayiny 4.4 times from UAH 5.56 bln (UAH 730.62 mln) to UAH 24.16 bln (USD 3.17 bln).

According to a press release issued by the Bogdan Automobile Plant [LUAZ UZ, U/R], the company resumed automobiles production on June 10. Plant operations had stood idle since early April 2009 due to the significant amount of automobiles ready for sale in the plant’s warehouse and the lack of demand for new cars in Ukraine.

According to the press service of Sumy Frunze Machine Building [SMASH UZ, N/R] – one of Europe’s largest producers of equipment for the oil, gas, and chemical industries – the company will deliver three gas turbine power generation units to a Russian company, Surgutneftegaz by mid-October 2009.

EU inspectors representing the European Commission’s SANCO have begun their work in Ukraine. Five Ukrainian poultry plants, including facilities owned by MHP [MHPC LI, BUY], specifically, Druzhby Narodiv and Lehko Myronivsky Meat Processing Plant, some of assets belonging to Agromars Complex ( processing plant Ukraine) and Ovostar.

Government has approved a total of UAH 9.57 bln (USD 1.26 bln) in aid for 3 Ukrainian banks; Rodovid Bank [RODB UZ, U/R], Ukrgazbank [UGZB UZ, U/R] and Kyiv Bank. Government has approved a total of UAH 9.57 bln (USD 1.26 bln) in aid for 3 Ukrainian banks; Rodovid Bank [RODB UZ, U/R], Ukrgazbank [UGZB UZ, U/R] and Kyiv Bank.

The Ministry of Agriculture decreased its forecasted 2009 grain harvest from its previously estimated 48 mln mt of grain to roughly 42-43 mln mt. Mr. Melnik, the Minister of Agriculture, stated that the wheat harvest would decrease by 22.8% YoY to 20 mln mt, the corn harvest is expected to shrink by 8% YoY and the barley harvest will drop by 20.6%.

Uryadovyy Courier (an official Cabinet publication) reported that on May 12 a local tax authority filed a bankruptcy claim against Silur [SILUR UZ, N/R]. Kommersant-Ukraine cited the company’s CEO in reporting that the total claims amount to UAH 220 mln (USD 28.6 mln).

In May 2009, the Ukrainian car market recorded a 74% drop compared to the same period in 2008, according to Auto Consulting. Car production in May was almost at the level of April’s output with 12.7 thsd units.

According to the CEO of Vneshtorgbank Ukraine (VTB), one of the Russian’s largest state owned banks, VTB has opened a credit line of USD 80 mln. to Ukraine’s largest passenger car producer, UkrAvto [AVTO UZ, N/R], for production development and customer auto loan support.