Consulting group "Maxima" is registered on September 03, 2007. The company is formed by the specialists having many years' operational experience in various fields of consulting.
The aim of our work is to assist entrepreneurs in organization of their business and to cooperate for its successful growth and prosperity.
We are focusing on collaboration with both the businessmen doing their business for a long time and the entry-level entrepreneurs.
In our activity we follow the principles of maximal benefit of the customers, satisfying the whole complex of the needs arising in the process of activity of any enterprise.
Where you see the problems we see the solutions. Providing entrepreneurs with the assistance in solution of organizational and managerial tasks we are rendering a wide spectrum of consulting services. We invite all entrepreneurs to collaborate with us and are sure that our help will be of use to you.
The Ukrainian economy can recover rather quickly in 2010 – S&P
In the opinion of the rating agency Standard & Poor’s (S&P) leading analyst of sovereign credit ratings for Russia, Kazakhstan and Ukraine Frank Gill, the Ukrainian economy can recover “rather quickly” next year due to export after the great drop of GDP in 2009.
According to his words, the growth of Ukrainian GDP in 2010 will equal to 4.5 % whereas this year the economy is expected to decrease by 12 %.
“We see the potential of rather quick rehabilitation of the economy next year”, said F. Gill in his telephone interview for Bloomberg agency. “At the same time the forecast remains very ambiguous as it depends on the external demand for the metals and also prices for them.”
“Ukraine has to face the perturbations able to impair any economy”, said F. Gill. “Prices for chemical products and steel bottomed out lately whereas the prices for import goods are up due to the increase of the gas tariffs and devaluation of national currency. The continuing political limbo is also the unfavourable factor for Ukraine.”
On February 25 S&P cut the sovereign rating of Ukraine to CCC+ level having noted the increasing risks of the non-fulfillment of provisions of the agreement between Ukraine and IMF on the stabilizing credit extension because of the absence of a broad political platform for the required adjustments of budget and reformation of banking system before the presidential elections in January 2010. This rating is seven levels below the investment grade and is the lowest among the European countries. The outlook of ratings remained ‘negative’.”
“It is not clear whether the Ukrainian party’s intention to execute the IMF programme is really serious”, added F. Gill. “The government debt is rather low though it is going up quickly, however the readiness to repay the debt remains questionable.”
According to the S&P forecast, the hryvnya rate is going on dropping. The Ukrainian currency has already lost more than 40 % against the US Dollar in the past six months.
“The devaluation of hryvnya will facilitate the further impairment of the bank assets, and that will finally lead to the increase of the national debt as the Ukrainian government will have to take measures for the recapitalization of the Ukrainian banks”, said F. Gill.
In the expert’s opinion, the further “weakening of the hryvnya rate increases the risk of defaults of banks and corporations”. At the same time “in the long-run prospect it will help the economy become more competitive”, he said.
According to the S&P forecast, the deficit of the Ukrainian balance of payments will be reduced to 2 % of GDP by the end of 2009 in comparison with 6.7 % in 2008.
Additional payments to the Pension Fund
Law of Ukraine “On introduction of amendments into the Laws of Ukraine “On State budget of Ukraine for the year of 2010” and “On obligatory state retirement insurance” as of 08.07.2010 no. 2461-VI came into force starting from July 17, 2010. According to that Law the natural person entrepreneurs being payers of fixed or single tax and those members of their families participating in the entrepreneurial activity of such persons without employment relationship between them are obliged to make insurance payments according to the order defined in the Law of Ukraine “On obligatory state retirement insurance”.
The amount of the insurance payment is calculated by the natural person entrepreneur itself both for the entrepreneur and for the indicated members of its family taking into consideration the part of the fixed or single tax remitted to the Pension fund. When that, the amount of the insurance payment should not be lower than one minimum amount of the insurance payment for one person and not higher than one amount of the insurance payment calculated within the limits of the maximum value of taxable revenue. The minimum amount of the insurance payment is determined by multiplying the minimum amount of the wage stipulated by law for the period for which the calculation of the insurance payments is being made, by 33.2 per cent.
The insurance payments are to be made by the natural person entrepreneurs chosen special type of taxation for themselves and for the members of their families participating in their entrepreneurial activity on a quarter basis, within 20 calendar days following the last calendar day of the reporting quarter (by October 20, by January 20).
The abovementioned persons should report to the bodies of the Fund every year before April 01 of the year following the reporting year according to the form of appendix 5 to the Order of formation and submission of the report containing the amounts of the contributions for the obligatory state retirement insurance accrued by the bodies of Pension Fund of Ukraine, approved by Resolution of the Board of Pension Fund of Ukraine on 05.11.2009 no. 26-1 and registered at Ministry of Justice of Ukraine on 24.11.2009 under no. 1136/17152.
The amount of minimum and maximum insurance payments for July-December 2010
July, minimum insurance payment = minimum wage 888.00 UAH * 33.2% = 294.82 UAH.
July, maximum insurance payment = maximum wage 13,320.00 UAH * 33.2% = 4,422.24 UAH.
August, minimum insurance payment = minimum wage 888.00 UAH * 33.2% = 294.82 UAH.
August, maximum insurance payment = maximum wage 13,320.00 UAH * 33.2% = 4,422.24 UAH.
September, minimum insurance payment = minimum wage 888.00 UAH * 33.2% = 294.82 UAH.
September, maximum insurance payment = maximum wage 13,320.00 UAH * 33.2% = 4,422.24 UAH.
October, minimum insurance payment = minimum wage 907.00 UAH * 33.2% = 301.12 UAH.
October, maximum insurance payment = maximum wage 13,605.00 UAH * 33.2% = 4,516.86 UAH.
November, minimum insurance payment = minimum wage 907.00 UAH * 33.2% = 301.12 UAH.
November, maximum insurance payment = maximum wage 13,605.00 UAH * 33.2% = 4,516.86 UAH.
December, minimum insurance payment = minimum wage 922.00 UAH * 33.2% = 306.10 UAH.
December, maximum insurance payment = maximum wage 13,830.00 UAH * 33.2% = 4,591.56 UAH.
Resume of socio-economic situation in Ukraine
Industry.In April 2010 the growth of industrial production equaled to 17.4% in comparison with the same month of the previous year and it equaled to 12.6% according to the results of January-April of current year, and that is 1.8 pp higher than in the 1st quarter. Almost all main industries showed the speed-up.
Agriculture.In January-April 2010 the total output of agricultural products gained 4.9% in comparison with the relevant period of 2009. It gained 12.1% at the agrarian enterprises and contracted by 0.6% at the private farms. The volume of agricultural products at all categories of enterprises was estimated at UAH 21.9 billion at actual prices.
Building.In January-April 2010 the output of construction works equaled to UAH 8.2 billion, and that is 78.8% at comparative prices as compared with January-April of the previous year. 1,477.4 thousand square meters of total living area were put into operation in the 1st quarter of 2010, and that is 14.1% higher than in the relevant period of the previous year.
Transport.For the period of January-April 2010 the transport enterprises transported 237.8 million tons of freight, and that is 15.3% higher than for January-April 2009. The freight turnover gained 14.2% and achieved 124.6 billion tons per km. 2.3 billion passengers used the services of passenger transport, and the passenger work equaled to 38.2 billion passenger kilometres (as compared to 91.6% and 96.0% in January-April 2009).
Export trade.The volume of export of Ukrainian goods and services equaled to USD 12,893.7 million in the 1st quarter of 2010, and import equaled to USD 12,922.8 million. In comparison with the relevant period of the previous year the export gained 23.5% and import gained 18.5%. The negative balance of balance of foreign trade equaled to USD 29.1 million (in the 1st quarter of 2009 the negative balance equaled to USD 466.4 million).
Wholesale trade.The turnover of the wholesale trade enterprises equaled to UAH 269.9 billion for January-April 2010. The physical volume of wholesale circulation gained 4.3% in comparison with January-April 2009.
Retail trade.The retail trade turnover (including the retail trade turnover of the retail trade enterprises and estimated figures of sales of goods in the markets and those of natural persons being entrepreneurs) of January-April 2010 equaled to UAH 144.4 billion or 97.9% of the volume of January-April 2009. Organized and informal markets composed 30.9% of the retail trade turnover.
Prices.The consumer price index in April 2010 equaled to 99.7% and 104.4% YTD. The price index of industrial producers in April 2010 equaled to 103.0% and 110.1% YTD.
Wage.The average monthly nominal wage of full-time worker in January-March of 2010 equaled to UAH 1,993.00, and that is 17.2% higher than in the relevant period of the previous year. In March the amount of wage gained 7.9% at the average in comparison with February of the current year and 18.3% - in comparison with March 2009. The average nominal wage of full-time worker in March of the current year equaled to UAH 2,109.00, and that is 2.4 times over the level of the minimal wage being equal to the minimum subsistence level of one person capable of working (UAH 869.00). The index of real wage in March equaled to 106.8% in comparison with February and 105.7% in January-March in comparison with the relevant period of the previous year.
Labour-market.The number of recorded unemployed as of May 1, 2010 decreased by 9.9% in comparison with the data as of April 1 and equaled to 455.0 thousand persons, and that is 43.7% lower as compared with the relevant date of 2009. In whole the rate of recorded unemployment in the country decreased by 0.2 pp in April of the current year and equaled to 1.6% of working-age population as of May 1, 2010./p>
Population.It is estimated that as of April 1, 2010 the population of Ukraine equaled to 45,905.3 thousand persons. During the period of January-March 2010 the population size decreased by 57.6 thousand persons, and that is 5.1 persons per 1000 residents./p>
Source: State Committee on Statistics of Ukraine
LLC "Consulting group "Maxima"
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