The Ministry of Finance said that the strengthening of the hryvnia no reason

Strengthening can influence only short-term factors.

Economic reasons for the strengthening of the hryvnia in the year 2020 no, said the Minister of Finance, Sergei Marchenko, reports the Chronicle.info with reference to the Correspondent.

He recalled that in the state budget for the current year is placed at 30 hryvnia per dollar. Now American currency is about 27 USD.

“We couldn’t lay another course, given that the budget was formed in March and the market was certain foreign exchange fluctuations. Considering what has been the trend in March, we took a more realistic-the optimistic course. The hryvnia exchange rate could be 35, and 40, if the national Bank did not keep their instruments negative trend in the market,” overide Marchenko.

He noted that in the fossil the course lost a portion of the proceeds from customs, from import VAT, which is tied to the exchange rate component. On the other hand there is a definite savings on debt service that does not cover other losses.

In the Ukraine there is still a negative trade balance.

“I do not advocate drastic steps. But today’s macroeconomic grounds for strengthening the hryvnia is not. There may be short-term factors that contribute to the strengthening. But I would not say that we are strong enough as economies to strengthen its currency,” the Minister said.

He therefore appealed to the national Bank with a question: why we may strengthen our national currency.

Leave a Reply

Your email address will not be published. Required fields are marked *

*