11:12 26.12.2019

PM: I would not say that hryvnia strengthening is negative trend

2 min read
PM: I would not say that hryvnia strengthening is negative trend

The strengthening of the hryvnia exchange rate seen recently reflects growing demand on the national currency, it has its pros and cons and one should not consider it as negative trend, Ukrainian Prime Minister Oleksiy Honcharuk has said.

"I would not say that strengthening the hryvnia is a negative trend... Existing trends show us that if the economy grows (but in fact this is exactly what we expect, what we will work on), then, of course, in normal conditions the hryvnia will strengthen," he said on the Ukraine 24 television channel.

The prime minister named, in particular, wage growth in U.S. dollars and cheaper investment imports among the advantages of hryvnia strengthening, while the strengthening of the national currency affects exporters and the budget.

Honcharuk did not predict the exchange rate in the first months of the new year, noting that this is more the prerogative of the National Bank.

At the same time, he said that tentatively according to the results of February, the question will be raised about adjusting the macroeconomic forecast for 2020 and making appropriate changes to the national budget.

"In the conditions when macroeconomic environment is actively changing, of course, the budget will be reviewed. This is a normal process. Obviously, in the first months we will get a new macroeconomic forecast. We will sit down with the specialists of the National Bank and plan how we will respond to what is happening," the prime minister said.

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