NBU projects 2015 inflation to be at least 30%

11:48, 10.04.2015 1 min read

The National Bank of Ukraine (NBU) projects inflation in the country in 2015 will be at least 30%, according to NBU Vice Governor Dmytro Solohub.

"As for inflation this year, we're unlikely to see a figure lower than 30% against the backdrop of all the misbalances. However, significant disinflation in the economy is virtually possible, and it will happen. All key measures will be aimed at this," he said at a conference on the development of Ukrainian exports in Kyiv.

He said that the NBU's monetary policy will focus on macroeconomic stabilization, curbing inflation, and the creation of normal conditions for businesses.

Solohub said that the structure of Ukrainian exports has considerably changed, and it is unlikely to return to its previous positions in the near future. For example, he said if Russia accounted for 35% of Ukrainian exports, it will be half of that figure now.

Solohub also said that Ukrainian steelmakers and coalmines wouldn't be able to work at 100% capacity.

However he added Ukraine is now more competitive and that the country should take advantage of this fact.