Devaluations cannot be avoided: experts have given alarming forecasts for the hryvnia

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The devaluation of the Ukrainian hryvnia is very likely to be avoided.

This is reported by the NPF, referring to dialog.ua.

Devaluation of the hryvnia.
Analysts have predicted the hryvnia exchange rate at the end of 2020. Photo: golos.ua.

Financial analysts cite negative trends that strongly affect the Ukrainian economy. It is a general recession, poor harvest forecasts and a huge external debt, for which it is necessary to fulfill its obligations.

All of this, in their view, will ultimately lead to the depreciation of the hryvnia. And the main task of the authorities is to do everything to prevent the depreciation of the hryvnia from becoming critical for the national economy.

The favorable situation on the oil market so far guarantees Ukraine some energy security, but if the trend changes, it will negatively affect the economy.

The IMF loan can mitigate and delay the negative consequences, however, experts predict a 5-7% drop in GDP in 2020, which could lead to a significant increase in risks to the Ukrainian economy.

According to optimistic forecasts from financial analysts, the exchange rate of the dollar at the end of 2020 could amount to 29-30 hryvnia per unit.

Previously reported on the situation on the foreign exchange market of Ukraine on May 26, 2020.

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