NBU substantially improves forecast of intl reserves

20:39, 27.07.2023 1 min read

The National Bank raised the forecast of Ukraine's international reserves at the end of this year to $38.3 billion from $34.5 billion in the April forecast.

According to the updated estimates of the NBU, presented at a briefing on Thursday, by the end of the next year, Ukraine's international reserves would reach $42.6 billion, and a year later - $44.1 billion, while in April the National Bank gave more modest estimates - $36.1 billion and $37.1 billion respectively.

The NBU expects that this year external financing of the state budget alone will be $42 billion, and next year it estimates this need at another $37 billion.

According to its forecasts, such large-scale financial external support will completely cover the deficit of the current account, which is estimated by the NBU this year and next year at $11 billion, $17.2 billion and $16.1 billion, respectively.

As reported, due to a significant inflow of external financing, Ukraine's international reserves grew by 4.5% in June to a record level of $39.00 billion in the country's history.