The building of the National Bank of Ukraine, archival photo
The national Bank of Ukraine (NBU) believes that the suspension of the movement of goods across the demarcation line in the Donbas is limited impact on the exchange rate of the hryvnia. This is stated in a statement posted on the NBU website.
“The impact of the blockade on the exchange rate of the hryvnia will be limited. The deterioration in the balance of payments in the first place will be displayed on the net currency purchases on the market to replenish the reserves,” the report says.
In this regard, the NBU has lowered its forecast on international reserves in 2017. In particular, the forecast fell c 21.3 billion to $ 20.8 billion dollars.
Also, the NBU has lowered its forecast for the current account deficit of the balance of payments in 2017, up from 3.5 billion to 4.3 billion dollars.
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Earlier it was reported, the national Bank of Ukraine (NBU) has decided not to revise the inflation forecast for 2017. The financial institution is convinced that the cessation of the movement of goods across the demarcation line in the Donbas will not affect the growth of prices in the current year. However, the NBU has lowered its growth forecast for gross domestic product (GDP) in 2017 from 2.8% to 1.9%.
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