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Japanese rating agency upgrades Ukraine's sovereign credit rating

R & I analysts say that Ukraine’s GDP is growing, inflation is slowing, and a temporary increase in the balance of payments deficit will not affect the country's creditworthiness
19:19, 10 August 2019
National Bank of Ukraine
 
The Rating and Investment Information (R & I) Japanese agency increased Ukraine's sovereign credit rating by two positions from CCC + to B, with a stable outlook. This information was reported by the Ministry of Finance of Ukraine, according to the website of the government.

"The Ukrainian economy continues to recover, and the fiscal position has improved," the Japan Credit Agency stated.

R & I analysts say that Ukraine’s GDP is growing, inflation is slowing, and a temporary increase in the balance of payments deficit to 3-4% will not affect the country's creditworthiness.
 
Related: Inflation in Ukraine accelerated to 1% in April, - State Statistics Service


According to agency experts, the public debt to GDP ratio decreased from 69.2% as of the end of 2016 to 52.3% as of the end of 2018.

We recall that in April S&P Global Ratings kept the forecast for Ukraine's GDP growth in 2019 by 2.5% with the devaluation of the hryvnia to 28.6 per dollar.
 
Earlier we reported that inflation in Ukraine in May 2019 was to 0.7%, compared with 1% in April, 0.9% in March, 0.5% in February and 1% in January.

In the annual terms, the consumer price growth accelerated by 9.6% in May, by 8.8% in April, and by 8.6% in March of the current year.

The core inflation in May 2019 declined to 0.2%, while in April it was 0.4%, in March - 1.2%, in February - 0.2%, and in January - 0.3%. In the annual terms, it remained at the level as in April - 7.4%, compared with 7.6% in March, 7.8% in February and 8.3% in January.

The prices in the consumer market of Ukraine in April increased by 1.0% compared with the previous month.  "Inflation in the consumer market in April 2019 compared with March 2019 was 1.0%, since the beginning of the year - 3.4%," the report says.

Related: UN publishes report "Progress of the world's women 2019-2020: Families in a changing world"

 
 
 
 
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