No reasons for hryvnia devaluation in Ukraine - expert

KYIV, February 28 /UKRINFORM/. Currently in Ukraine, there are no reasons for the hryvnia devaluation 100%, Mykola Ivchenko, head of the information-analytical center Forex Club in Ukraine told LIGABusinessInform.

According to the expert, despite the world economy slowdown and worsening of trade conditions, the volume of exports in goods and services from Ukraine remains stable. “There are certain difficulties with attraction of credit capital, however they will most likely gradually disappear on the backdrop of gradual solution of the debt crisis in the Eurozone. Therefore, we believe that there are no reasons for considerable inflation either now or by the end of 2013,” Ivchenko says.

According to the expert, return to inflation exceeding 90% is hardly possible now. “Currency devaluation similar to Belarusian will hardly take place with us, where over the previous year the national currency devaluated against the dollar by 178%, and inflation made up 108.7%. The situation is considerably better in this respect in Ukraine: in 2011, deficit on the current account of the balance of payments was only 5.4% of GDP against 15% in Belarus in 2010,” Mykola Ivchenko summed up.

Consumer inflation in Ukraine (December over December) slowed down in 2011 to 8.9%, whereas this year it is expected at 13.1%.