Ukraine to see 20% rise in postage rates

Ukrainian postal operator Ukrposhta is set to raise postage rates by 20% in a bid to bolster company coffers.
Company director Yevhen Zavats made the admission during a call-in show by newspaper Komsomolskaya Pravda.

The postage rates increase in the country will be implemented on 1 January 2011 – the first raise since January 2009.

According to financial reports, Ukrposhta made a profit of UAH 30.3m (EUR 2.98m) in 2009 – an increase of 17.6% or UAH 0.7bn.

Ukrposhta holds a monopoly on postal communication in the eastern European country, also focussing on Internet and financial services.

1.00 UAH = 0.126 USD/ 0.082 GBP/ 0.098 EUR (xe.com; 13/9/10)