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Ukraine's Finance Minister sees no reason to change dynamics of UAH exchange rate

Source : 112 Ukraine

The state budget for 2020 is based on the calculations of the average annual exchange rate of 29.5 hryvnias per dollar
16:01, 31 July 2020

Ukraine's Finance Minister Serhiy Marchenko
RBC-Ukraine

The Minister of Finance of Ukraine Serhiy Marchenko believes that there are no grounds for changinh the dynamics of hryvnia exchange rate. The official stated it on the air of Priamyi TV channel.

"If our economy in such a situation that the exchange rate needs to be strengthened or devalued, we need grounds for that. Today there are no grounds for changing the exchange rate dynamics," Marchenko said.

The minister also noted that the customs might not fulfill the revenue plan due to the difference between the real exchange rate and the budget set for 2020, but it would be compensated by savings on public debt service.

Related: We have grounds to state Ukraine emerging out of crisis, - Finance Minister

It is noted that the state budget for 2020 is based on the calculations of the average annual exchange rate of 29.5 hryvnias per dollar.

As we reported earlier, according to the National Bank of Ukraine (NBU), the country's inflation rate will accelerate to 4.7% by the end of this year.

"In its turn, inflation will accelerate to 4.7% by the end of 2020 and will also be close to the medium-term goal of the National Bank of 5% in the coming years," the statement said.

Related: Ukrainian govt approves forecast of Ukraine’s economic, social development for 2021-2023

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