Hryvnia to pass devaluation peak in 2013, says World Bank

13:53, 16.01.2013 1 min read

The hryvnia will devaluate in 2013 to UAH 8.70/$1 from UAH 8.00/$1 in 1012, the World Bank has predicted.

The World Bank said in its latest Global Economic Prospects published late on Tuesday that in 2014 the hryvnia exchange rate will start strengthening: in 2014 it will reach UAH 8.60/$1 and in 2015 it will total UAH 8.40/$1.

The World Bank upgraded the growth of Ukraine's exports in 2012 from 1.5% under the forecast made in July 2012 to 2%, while for 2013 the indicator was downgraded from 5.7% to 3%, and in 2014 – from 5.2% to 5%. The bank said that growth in the country's exports in 2015 would accelerate to 7%.

According to the prospects, imports in 2012 shrank by 4.5%, while earlier it was anticipated that imports would grow by 4.3%. The forecast for imports in 2013 was upgraded to 2% from 1.9%, and in 2014 it was downgraded from 4.4% to 3.1%. The World Bank said that in 2015, the growth of Ukrainian imports would accelerate to 5%.