12:13 23.09.2019

Businesses forecast forex rate UAH 28 per U.S. dollar in 2020 – EBA

2 min read
Businesses forecast forex rate UAH 28 per U.S. dollar in 2020 – EBA

 Businesses plan their 2020 budgets with the forex trade set at UAH 28 per U.S. dollar, according to the "Global Outlook" study by the European Business Association (EBA).

"When planning the budget for next year, owners use the average forex rate at UAH 28 per U.S. dollar. According to investors, the hryvnia will continue strengthening, as last year the rate was at UAH 30 per U.S. dollar," EBA Executive Director Anna Derevyanko said while presenting the findings of the study in Kyiv on Monday.

As many as 104 top managers of EBA member companies were surveyed in August 2019 during the study. Some 77% of those polled expect their business will develop in 2020, with 45% of CEOs forecasting revenue growth by 10-20%.

At the same time, compared with the forecast for 2019, the number of companies that intend to expand staff has decreased. As the survey showed, 47% of companies plan to leave the number of employees at the level of last year, and 46% of CEOs shared plans for expanding their staff (last year their share was 58%), Derevyanko's cited the results of the survey.

Only 33% of companies intend to launch new investment projects in Ukraine in 2020, the study indicates.

At the same time, more than 90% of CEOs are going to raise employees' salaries by 5-10%, the survey showed.

The study was conducted for the fourth year in a row.

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