Home / World / Ukraine News Today Apr. 18, 2017: Deficit of Ukraine’s foreign trade in goods up to $336.5 mln in Feb 2017; Ukraine ranked 88th in The Travel & Tourism Competitiveness Report 2017; IMF offers recipe for Ukraine’s pension system

Ukraine News Today Apr. 18, 2017: Deficit of Ukraine’s foreign trade in goods up to $336.5 mln in Feb 2017; Ukraine ranked 88th in The Travel & Tourism Competitiveness Report 2017; IMF offers recipe for Ukraine’s pension system

Ukraine News Today: Deficit of Ukraine's foreign trade in goods up to $336.5 mln in Feb 2017; Ukraine ranked 88th in The Travel & Tourism Competitiveness Report 2017; IMF offers recipe for Ukraine's pension system
Ukraine News Today Apr. 18, 2017: Deficit of Ukraine's foreign trade in goods up to $336.5 mln in Feb 2017; Ukraine ranked 88th in The Travel & Tourism Competitiveness Report 2017; IMF offers recipe for Ukraine's pension system

Deficit of Ukraine’s foreign trade in goods up to $336.5 mln in Feb 2017

The deficit of Ukraine’s foreign trade in goods in February 2017 was $336.5 million, while in the previous month $86.7 million, the State Statistics Service has said, according to Interfax-Ukraine.

According to its data, as a whole in January-February 2017 the deficit was $423.2 million compared to the deficit of $756.1 million for the same period in 2016.

Exports of goods in January-February 2017 amounted to $6.3 billion, imports $6.7 billion. In comparison with January-February 2016 exports increased by 32.7% (by $1.5 billion), imports by 22.1% (by $1.2 billion).

As a result, the coefficient of coverage of imports by exports was 0.94 (in January-February 2016 some 0.86).

The service said foreign trade operations were conducted with partners from 198 countries.

Ukraine ranked 88th in The Travel & Tourism Competitiveness Report 2017

Ukraine occupies 88th position in The Travel & Tourism Competitiveness Report 2017, prepared by the experts of the World Economic Forum in Davos, Joinfo.com reports with reference to Ukrinform.

“Ukraine is ranked 88th in the tourism competitiveness rating, according to the experts of the World Economic Forum in Davos. The main criteria for ranking were cultural resources, accessible infrastructure, prices, health care, security, international openness,” the report says.

In terms of security, the experts do not recommend to travel to Ukraine because of the military hostilities in the east of the country.

On the other hand, the experts praised the high level of Ukrainian healthcare and sanitary standards. In this area, the country is ranked among the leading countries, leaving behind the UK (49th) and the USA (56th).

Ukraine was also recognized quite an affordable country for a European tourist, occupying the 45th place.

However, the indicator of investments in the tourism business in Ukraine was assessed at the extremely low level of the 124th position. Environmental indicators (98th place), port and ground infrastructure (81th place), air infrastructure (79th place), international openness (78th place) and tourist services (71th place) were also estimated to be very low.

In terms of cultural resources, our country has been ranked 51st.

IMF offers recipe for Ukraine’s pension system

The International Monetary Fund (IMF) says it is early to introduce defined contribution (DC) plans in Ukraine, UNIAN reports citing Ukrainska Pravda.

“The introduction of the so-called DC system (Tier 2) in addition to the existing system, as many insist on, will not make any sense without fixing the drawbacks of the existing system prior to that,” IMF mission head Ron van Rooden wrote in an article published by the UP.

“The introduction of the DC system would be premature, taking into account the current level of the development of the financial markets and the legislative basis in Ukraine,” he said. He also says he believes that Ukraine should first of all find a way to reduce an inflow of new retirees and boost payments to the pension fund. Earlier the IMF said that Ukraine could not permit itself to delay a comprehensive pension reform, including through raising the retirement age.

Photo: UNIAN.