[000:00:00;00] it was absolutely such a shocking event for the russians, especially since they, i understand, flew, as they say, through a corridor that was constantly used for bombing . by the way, our areas where hostilities do not take place, that is, it is also like this. in fact, they were flying. let's say it straight, it was russian terrorists who carried out terrorist acts on our territory. they thought they were going unpunished and suddenly found that they had been shot down. let's explain this case to us , what it actually means and what it could be therefore, taking into account the options that i voiced that could be used , we can draw conclusions that it can be either the use of anti-aircraft defense of the great range of action, or it is the use of

the long range aviation complex , officially, no one in our country did not admit that it was the practice of some of our elements on objects, hot objects already on the airspace of the russian federation, but precisely taking into account the fact that it was a group of aircraft and in general that it was a killing group because there were helicopters with a complex of radio-electronic warfare, then in general this was the group that carried out these terrorist attacks . it was precisely these masked bombs on the territory of ukraine and carried them out with impunity for a long period of time, and now something happened and they moved. well, for example, now they have helicopters , and in this er, in this area. and they fly over the blades, that is, at low altitudes, so as not to be noticed by means of anti-aircraft defense, and why, by the means of air defense of the university, in this case, only ukraine, and does

ukraine have such a possibility of application strikes how deep into the territory of the russian federation well, they probably already have this opportunity and not only have the opportunity well, i have the full right to destroy its russian and military aircraft in its airspace, you probably also noticed that precisely in connection with the supply of long-range missiles by these by all things, there is such and such an intensification in the world media space of conversations about what , what, well, emissions of strange information about what is there , zelensky there insisted on some attacks on something, somewhere to seize something and some such the disturbance around this, how do you feel about it in general, because i, for example, feel about it so that it is probably necessary to change this in general, this agenda of conversations about whether ukraine has the right to something our why

is it considered by default that no one discusses whether russia has the right to attack kyiv, for example, and to seize ukrainian territories in general, and there are some stupid conversations about whether ukraine has the right to anything regarding its defense, and i have the right to everything in general. but nevertheless , these conversations are what they tell us about. activate or and the stronger ukraine becomes , the more we have means of countering russian aggression, the more such discreditable moments will be, we can see that now , for example, at the beginning of 2023 , a wave of pacifist statements has begun, peace negotiations must be negotiated on rome about peace and without any preconditions , that is, where does everything come from? and if we see what kind of organizations are behind such calls, then these are mostly organizations that

have some kind of relationship with the russian federation or even before the soviet union, even so much older organizations are now talking about this pacifism - it has always been the main element of the influence of informational influence since the time of the soviet union , e . of its pacifism, the sky has become a capable country , and there is a large number of facts that the sphere is actually an incapable power structure for today, and if we are talking about the rights of ukraine, then in 2020 , many of the international leaders declared that we have the full moral and legal right to deliver blows on the territory of the russian federation, among them was the football player johnson, who confirmed this. but there were agreements of their own. that is, you can do this, but not use our weapons.

germany also stated that we have the right even to carry out sabotage activities on the territory of the russian federation, this is our full right to act on the territory of the russian federation under these conditions, and maybe something started in the 23rd year to change like this probably what started to change is exactly why we see this whole story exactly why we see that uh, this is such a way well , some kind of desperate literally trying somehow to press like this trying somehow not to give someone something to persuade someone that this is not wrong that ukraine defends himself, but as we can see, after all, those politicians who make decisions, apparently it does not have much effect, see this week in the program judicial control with tetyana shustrova on robberies and threats of beatings, how the lodger of the nettle judge attacked the journalist espresso

the information was entered into the unified register of pre-trial investigations. why did the pechersk court oblige the prosecutors to close the proceedings in the case of the banker of the slime lagoon, just for the third time, what is it about, watch the program of judicial control with tetyana shustrova on the espresso tv channel on thursday, may 18 at 4:40 p.m. about not what ukrainians thought about, no matter what they talked about, the first place is still the war, the war , and our victory is only on espresso from monday to monday completely different spheres of human activity sports politics military analytics six presenters, journalists, experts, opinion leaders in real time about the most relevant events through the prism of war in author's projects on espresso, join the community with a ukrainian view of the world , become a sponsor of the espresso youtube channel, and this is access to exclusive content, personal thanks, pinned comments, special icons

and the possibility of personal communication with the espresso team, click sponsor and become part of the community with a ukrainian point of view vasyl zima's long broadcast my name is vasyl zima two hours of airtime until 9:00 p.m. for two hours of your time we will talk about the most important things two hours to learn about the war serhiy zhoretska joins our air the military summaries of the day and what is the world like what is there in the world yuriy fizer will tell two hours to be aware of economic news radislo oleksandr borshchivtsi he tells us about the economy under wartime and new sports evgeny pastukhov is ready to talk about sports for two hours in the company of his favorite presenters about culture during the war lena is ready to talk about culture during the war or something else that many have become idiosyncratic , maybe the weather will at least give us some of optimism, mrs. natalka didenko is ready to tell us, as well as distinguished guests

of the studio, we will have volodymyr ogrysko today, if everything goes well, events of the day in two hours , vasyl zimi's big broadcast, a project for smart and caring people, in the evening, the war is going on, and not only for the territories, it is also a war for umy russia is throwing millions of petrodollars to turn ukrainians into little russians ukraine will become russia analysis and analysis of information about ukraine by russian propagandists concrete facts and methods by which hostile propaganda turns people into obedient zombies, countering it with russian information attacks in the project of the chronicle of the information war with olga len tuesday, thursday at 11:40 a.m. and friday at 1:00 p.m. on the espresso tv channel, the war in ukraine

is the main topic for ukrainians, victories and losses , analysis and forecasts, politics and geopolitics serhiy rudenko and the guests of his program will talk about all this people who have information and shape public opinion people who defend ukraine and create the future right now the main and interesting thing in the program is the verdict serhiy rudenko from monday through thursday at 1:00 p.m. repeat at 6:00 p.m. andrii ilnytskyi with economic news on the espresso tv channel in the morning at 8:00 a.m. we will meet you and we will talk live not only on tv, if you are not watching with us on tv, it is normal, we are on any gadget, in particular through a stream

on youtube, you can watch us, like, subscribe to the e-e express channel on youtube , comment on this video, i answer comments if there are questions on the topic, and send the link to your friends and family and post them on your social networks like us will see more people, the european commission for the first time presented an economic forecast for ukraine after a fall of about 29% in a year from the full-scale invasion already this year, gdp will grow by 0.6%, and next year, the gross domestic product will not mark 4% counted in the european union this was reported by the european commissioner for economic affairs , paula jenseloni. he believes that in the conditions of the russian invasion, the ukrainian economy turned out to be extremely stable, however, positive

expectations depend on further development of events on the front, uncertainty remains, according to the euro commissioner, people with low incomes will not actually feel the increase in electricity tariffs , which is already planned, assured the head of the specialized committee of the verkhovna rada, andriy gerus , that the subsidy system should continue to work for people who need help . it should be easy and simple and accessible , let's say with the use of electronic means of smartphones, so that there are no complicated bureaucratic procedures in the form of such support from the state, this is how the deputy considers options for changing prices on the current, which is only now being discussed, is moderate, the main task is not just to collect money from people as much as possible, but to invest in the power system to restore it. it is possible even to rebuild it somewhere, so as to form a margin of safety before the next winter , i believe the influential mp andriy gerus ukrzaliznytsia received from the us agency for

international development more than a hundred generators , their cost is about 3 million dollars, the company noted that the generators will be installed at the stations of the main routes of passenger and freight trains, they will provide backup power supply to cover 100,000 consumers and will contribute to the uninterrupted transportation of passengers and cargo before the us default, there are only two weeks left , we discussed this topic in previous broadcasts , this is what i am told, what is said in the letter of the us treasury secretary janet ellen to the legislators, and this letter is actually the last states may run out of money to pay bills by june 1 if congress does not raise or suspend the debt limit the problem will be temporarily solved by the summer tax revenues, however, not for long. i will remind you that

the debt limit of almost 31.5 t usd was crossed back in january, and previously a similar situation was solved by simply raising this debt limit this year, the first attempt to raise this limit failed , it failed for those who want to to know more about this, refer to our previous issues, where we already discussed the us national debt and whether the us default is possible, and today we will talk about other economic topics with our permanent experts in the middle yevgeny dubogryzam, a financial expert, and mykhailo demkiv, who is a financial analyst at icu investor group. good morning, gentlemen. the topic of today's conversation is the key topic - the huge profits of the ukrainian banking system in the first quarter. i read such news on the pages of finn club , the most profitable ukrainian publication. the bank became a state bank in january-march, it earned

uah 16 billion, this is actually half of all, well , a little less than half of everything that the entire banking system earned, the biggest loss is this the period was received by the motor bank 25.4 million here is no longer billion million hryvnias and overall the total income of this system 34 e-e as much as six hundred billions maybe you can help. well, is it ethical to earn a lot like this, to earn a lot, in principle, it is ethical because it is this and it is a business to make money, but in fact , the situation there really looks quite absurd at first glance, because there are a lot of loans at the serviceable level in the country at war -is

the share of non-performing loans in the banking system in general at the beginning of the invasion increased from 27% to almost 40% in the system , but at the same time, banks not only had record profits , but also record revenues and interest income , which was uah 68.5 billion in three months, which is 48% more than for the magical period of the previous year. this seems like a bit of nonsense. there are fewer loans, but the bank earns more. why is this happening because now the lion ’s share and it really is the lion’s share is the uninterrupted income of banks. ovdp, which banks receive from the government and interest on deposits with certificates of the national bank, a rather large percentage of udp is now from 12 to 19%. without certificates, banks bring 20-25% per annum, and at the same time, the cost of funding, i.e. the cost of the funds raised, and the funds of the business, the funds of the population, it is quite low, from

literally a few percent of business funds to 12-13% of the population's funds, and that's the difference, yes. and gives banks such a large profit. because other components, such as revaluation or trading income or commission income, they are, in principle, market-based. components and plus one more point, which seems to me to be quite important, is that banks have almost stopped deducting from reserves for expected losses, that is, it is also a bit strange because the share of non-performing loans is increasing , it continues to grow, but banks do not recognize that they no longer receive these incomes somewhere in the middle from in the first three months, somewhere around 1.3 billion per month, this is 10 times less than last year, so it seems to me that the banks here are a little bit waiting for the nbu to diagnose the banks in order to finally say and which of them

real future losses, and why is it important? and why, in my opinion, this is dangerous because this business model of banks is such a way to make money on it , it is called apartment arbitrage. and that is, the difference between state securities and securities and state ones. b for banks to leave to accredit because such a business model brings huge revenues and bank shareholders in the future will demand the same profitability from their managers to say that yes, you earned a lot before , earn as much now, lending loans directly attacking such incomes will not bring profitability, and it is a huge and difficult task for the national bank to return banks to lending well, of course, noiseless risks know this. i personally do not have a quick answer to this question. well, a smart top manager will explain to his shareholders that this is a temporary phenomenon. i think and that in general it is necessary , as they correctly said, to collect some money before

the stress test, because the stress test can reveal some shortcomings and are necessary for capitalization or, well, some increase in the deduction of reserves, yes, but it still worries me this is a question, i.e. guilt. well, i can't say that it's right, because of course i'm exaggerating, i don't want to say that all bankers are like fat cats who make money from poor ukrainians , it's not like that, we know different periods in the banking system, sometimes the income is big , sometimes we're less but the fact that this situation has developed is some objective factors. are there still shortcomings in the work of the national bank of ukraine, which simply did not see in time that this could happen, that large funds could accumulate in banks? mykhailo, i am asking you

to answer this question well, maybe you can add something to yevhen's words. well, i'll start by saying that this situation is a consequence of the policy of the national bank, and in what yevhen said, it's a situation that banks earn from customer balances certificates, it is already putting pressure on the fact that the same national bank is forced to adjust its monetary policy to this situation, and in march, the national bank literally changed the design of the monetary policy , reducing the interest rates for overpaying with positive certificates, well, in fact, it lowered the interest rate by doing it in order to reduce interest expenses on certificates of deposit, it is obvious that in the next month this situation will only

accumulate there and the national bank will probably lower the discount rate more quickly than he previously thought due to all those things. in addition, i would add a second source er earnings are calculations abroad er after the start of the great war er increased very seriously er the difference between the official rate of the national bank and the so-called card rate at which banks conduct operations this is also done there, in principle, not because of the ban of the national bank of ukraine. that is, this is a completely legal legal situation, but such is the distortion from the market today, for example, e-e banks are selling euros for the calculations of e-e ukrainians abroad for uah 2. approximately more than the official exchange rate of almost 4 % in some months of the summer, this difference was almost twice as much to 7%

of the patient and here it is worth saying that it is not only about the physical physical calculation abroad, you can even be in ukraine and come across this difference when you, for example do you pay for some product e.e. abroad, for example, a subscription to net ex, or do you order something, this also all goes along a larger course and allows banks with a large number of retail, not corporate, but actually retail customers e.e. to feel quite good on the eve of all these stress tests, i suspect that individual banks will not even need this for capitalization, including some of the states, which is probably ok, but as yevgen really correctly said, such a situation cannot last indefinitely, at some

point we are waiting for a return to normal some kind of normalization and the return of profits to the usual level, we will monitor this situation, see where the banks will actually spend these funds and how they will come , stress tests, what will you find out? there are several topics for discussion, in particular, it is a very interesting topic from the media market. i am glad that a journalist can talk about this. here is a billionaire who has not yet bought 30-year-old shares . well, no, not all shares, but he controls them. the forbes global media holdings share package, that is, it is the same force that makes all these ratings, many people, and it is not about the ukrainian e-magazine, but exclusively and about the entire global holding, according to the results of the e-e agreement , this entire holding was valued at 800 million dollars

. russell will have 82% ak to this company, which used to belong to the forbes family, all of this is no longer a family business, mr. yevgeny, let us now tell you what you can say about this deal, who currently needs this traditional media business, which, as we know, is unprofitable everywhere unprofitable, isn't it some new political ambitions of all the young, the young, that's it, there's a billionaire there, to be honest, i don't know where he's unprofitable, i specifically looked at the financial indicators of the largest traditional media groups, where, after all, the main source of income is subscription - this is advertising, that is, for some marketing events or communication hubs, in particular, media business, what can i say for an economist . last year, revenues and profits increased very much, they themselves say that it was

above their expectations, the new york times yes itself increased a little less. but forbes increased the same increase. this means that the traditional media business is just in the world of quality media business , it is developing quite well, it increases revenues and profits, it is attractive to investors, and this agreement on the sale of force shows that people who have money see in this perspective is ready to pay a lot of money for it, well, only because they see that it is possible to earn even more from it, that is, we are not talking about any collapse of traditional media, on the contrary, we are talking about the development of traditional media, that they profitable income will generate even more funds, provided that they are really of better quality, they produce precisely journalistic content, produce independent analysis for this, there is also a demand, you know, i wanted to remind you of one thing , just about 10 years ago, the same 28-year-old billionaire, only ukrainian, and

the billionaire, of course, is in quotes and serhii korchenko, he bought from the ukrainian holding company yumz, including the forum magazine - this, by the way , in my opinion, was an indicator of the really high-quality work of the mass media, because the quality of forbes was high , and at that time the correspondent was also high-quality. they really prevented kurchenko and yanukovych and all these predecessors from running their so-called business. yes, and that's why they had to pay a lot of money to buy it out, that is, this is another argument for the fact that quality media is needed , quality media is really important and can earn p mykhailo and you what do you say, i have already read various conspiracy stories about the fact that there is russian money , that is, russian capital wants to penetrate into the media market of the usa.

er, that is why i am questioning whether it is worth investing in the media today. why is the media in the world profitable and the ukrainian media is mostly unprofitable? well, why can these rumors be born not only because the russians are publicly looking for their nose somewhere, but also because forbes was already for sale er, several years and literally last year before last, there was talk of the company entering the stock market and starting to trade. it was such a popular procedure of entering the stock market very quickly due to special associations with a special company with a package, this did not happen and perhaps, including because it was criticized by forbes, it’s interesting that this is a poor crypto exchange that somehow fell into the hands of american regulators, and maybe that’s why it didn’t work out, and the deal was now bought even for

a higher price, for a larger amount which in principle is a bit strange because the market has fallen in a year, well, in general, the value of assets has decreased a lot and this guy himself is russell island , he is basically a billionaire. he is a very successful person , he made himself in the technology market for self-driving cars cars, but still he is. his wealth does not greatly exceed this deal. that is, it is quite a risky investment for the amount, and therefore there are conspiratorial opinions somewhere regarding the media, so i would like to add that they are now facing even a profitable the american and western media have challenges related to artificial intelligence in what sense when we get technology that allows us to do exactly from

the articles some similar similar things then the consumer no longer has to go to the websites of these same publications, do not generate traffic for them, advertising subscriptions, etc., that is, everything that the media earns on. not now, among the regulators of western countries, there is a discussion among the legislators about how to regulate this market in order for our media did not disappear under uh-huh big technological grants, we, like google, like other companies that simply monopolize this traffic uh-huh and monopolize access to information and uh-huh, such and such profits as they are, the revenues they have now and this is definitely

a challenge for the industry for the coming years thank you, mr. mykhailo, we are already close to 20 minutes and we don't have time to talk about one more topic, we will leave it for the next time, about how, hmm, the european union previously approved a ban on the destruction of unsold clothes , let's leave this candy, such a teaser, for next wednesday i think it will be relevant, thank you very much, dear experts evgeny dubagrey, a financial expert, and mykhailo demkiv, a financial analyst of the su company group , were on our air and talked about the excess profits of ukrainian banks and the sale of the media company forbes, which was valued at 800 million dollars. i am andriy yanitskyi with economic news for

you. we will meet tomorrow at 8 o'clock in the morning. together we will win the program of the ukrainian voice of america service . i am natalya leonova. congratulations. in the usa , they congratulated the continuation of the grain initiative , which allows the export of ukrainian grain through ports . of the black sea, this was stated by the deputy spokesman of the us state department and dan padal. he added that the agreement contributes to the reduction of world prices for food and grain, but the united states should not constantly to remind russia of this, as state secretary blinken previously said. we should not remind moscow every few weeks that it should fulfill its promises and stop using people's hunger as a weapon in the war against ukraine. we should not remind russia to stop obstructing inspections so that grain could reach the vulnerable sections of the population who need it , the world needs the black sea grain initiative, moreover, the world needs