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Gontareva believes GDP will decline to 1.5% if blockade continues
17:59, 2 March 2017
Gontareva believes GDP will decline to 1.5% if blockade continues

According to the NBU Chairwoman, continuation of trade blockade may worsen Ukraine’s overall balance of payment by $2 billion in 2017

17:59, 2 March 2017

National Bank of Ukraine

Chairwoman of the National Bank of Ukraine (NBU) Valeria Gontareva thinks that GDP may decline to 1.5% if trade blockade in Donbas continues. She reported this during the briefing in the National Bank.

Also, continuation of trade blockade may worsen Ukraine’s overall balance of payment by $2 billion in 2017, according to Gontareva.

National Police in Dnipro

The press service of the National Bank also informed that the refinancing rate is maintained at 14% interest. Such decision was taken because of the need to neutralize risks to achieve inflation targets in 2017-2018.

Beyond that, inflation accelerated to 12.6% in per year terms. The index corresponds with the inflation forecast. National Bank explains the acceleration with increased production expenses, particularly for salaries, increase in commodity prices increase on international markets including oil and food, hryvna weakening in the end of 2016 and first half of January 2017.

Related: Head of National Bank commented on rumors about her resignation

Related: National Bank is ready to sign memorandum with IMF

Related: National Bank of Ukraine simplified financial operations for Ukrainians

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