Due to the devaluation of the hryvnia and the increase in prices over the next three years, the purchasing power of the Ukrainian currency will decrease by half.
In the next three years, the purchasing power of the Hryvnia will fall at least twice, said the head of the National Bank Kyrylo Shevchenko in a column for LB.ua.
function news4505366() {
$.get(‘//’ + window.location.host + ‘/ajax/module.aspx?spm_id=444&id=4505366&lang=2&IsAjax=true’, function (data) { $(‘#nk4505366’).html(data); });
}
news4505366();
He recalled that inflation will exceed 30% this year, 20% next year, and only in 2024 will it drop to single digits.
“That is, during these three years, the purchasing power of the hryvnia will almost halve,” Shevchenko explained.
At the same time, he also cannot guarantee such an indicator – it could be worse.
The head of the NBU also recalled the need to issue the Hryvnia, as well as taking measures to reduce the budget deficit.
“War cannot be an excuse for inaction, on the contrary – Extremis malis extrema remedia [сложные времена требуют сложных решений]. Now more than ever, it is important that the government take political responsibility and find ways to reduce the budget deficit and reduce the emission financing deficit,” Shevchenko wrote.
Otherwise, Ukraine will slide into a permanent crisis with an inflationary-devaluation spiral, believes the head of the central bank.
Recall that since the beginning of the war, the NBU has fixed the hryvnia exchange rate at about 30 per dollar. But on July 21, the rate was reduced by 25% – up to 36.5 hryvnia.
News from Correspondent.net on Telegram. Subscribe to our channel Athletistic
Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.