Honcharuk: Government revises projected hryvnia exchange rate for 2020

Prime Minister of Ukraine Oleksiy Honcharuk stated this at a government meeting, an Ukrinform correspondent reported.

“Next year the exchange rate of hryvnia against the dollar, according to the conservative forecast, is projected at UAH 27 - compared with UAH 28.2 as previously stated. According to the optimistic forecast, if the economy grows, we set the rate at [UAH] 24.8. The stronger the economy grows, the stronger the hryvnia becomes," said Honcharuk.

According to him, if the pace of economic growth does not change, the hryvnia will gradually become cheaper.

"If the economy significantly accelerates the growth rate - up to 5% - it seems realistic to us," Honcharuk added.

As reported, the Verkhovna Rada on October 18 adopted at first reading the bill "On the state budget of Ukraine for 2020" (No.2000). The draft state budget envisages the hryvnia exchange rate at UAH 28.2 per the US dollar.

Since the beginning of 2019, the official hryvnia exchange rate has strengthened by 12.5%.

According to Standard & Poor's rating agency, the hryvnia exchange rate by the end of 2019 is expected to reach UAH 27 per the U.S. dollar and UAH 27.5 per the U.S. dollar by the end of 2020.

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