The exchange rate of the hryvnia against the U.S. dollar will be stable in 2011 and 2012, Ukrainian Finance Minister Fedir Yaroshenko has said.
"The exchange rate of the dollar [against the hryvnia] will be stable this year and next year, and it will have no effect on the income of citizens," he said, while speaking in the Ukrainian parliament on Friday.
Yaroshenko noted that the government was constructively working with the National Bank of Ukraine and had an agreed plan to counter the negative impact on the Ukrainian market in case of another wave of the global financial crisis.
He said that measures from this plan would be reflected in Ukraine's draft state budget for 2012, which the government will table in parliament on September 15. He noted that the Cabinet of Ministers would also present a new model for public debt management.
Yaroshenko also said that the international reserves of the National Bank of Ukraine were diversified, so, in his opinion, "there is practically no risk" that they could suffer if the situation on the international financial market escalates.
