The situation worsened in April due to declining external financing and growth in imports.
Ukraine’s balance of payments deteriorated in April compared to March. Deputy Head of the National Bank Serhiy Nikolaychuk spoke about the financial situation in an interview with Interfax-Ukraine.
“The situation in April with the balance of payments really worsened. If in March our balance of interventions for the sale of foreign currency in the market reached $ 1.7 billion, then in April this number increased to $ 2.2 billion. , “aniya.
The official also announced a drop in foreign exchange earnings – less than $ 2 billion in April against $ 3.3 billion in March. Typically, the decrease is due to a reduction in external official funding.
“Accordingly, if in March international reserves increased by $ 600 million, then in April they decreased by $ 1.2 billion,” Nikolaychuk said.
According to him, the trade balance is affected by the increase in fuel expenditure, defense needs, as well as the continued significant volume of repairs with payment systems, mainly due to the active use of the hryvnia card abroad of refugees from Ukraine.
“I don’t think we will see a rapid deterioration of the situation. What we see now, the interventions in May are in line with the trends of April. Overall, in my opinion, we are now in a certain local balance, “said the deputy head of the NBU.
In the future dynamics of the balance of payments, he said, the trend of the battle, the establishment of alternative export routes, in particular, the unblocking of ports, will be important. International support will also be important.
“We are actively working to ensure that the costs we incur in the foreign exchange market to maintain exchange rate stability (and we expect to lower them in the second half of the year) are fully covered by official funding, “said Nikolaychuk.
According to the NBU, fixed exchange rates are currently better than floating ones. Until the end of the war, the dollar exchange rate will remain at the level of 29.25 hryvnia.
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Source: korrespondent
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