The exchange rate of hryvnia on the interbank market continues to strengthen

2020-12-07 12:02:43
Machine translation
The exchange rate of hryvnia on the interbank market continues to strengthen

After a few weeks of the devaluation of the hryvnia on the interbank market last week increased from 28.5 to 28.25 UAH/$ on the back of lower demand for the currency from importers and projected growth in borrowings through government bonds in December.

 

Prime Minister of Ukraine Denis Shmigel reported that in December, the government plans to borrow $ 1 billion on foreign markets and 50-60 billion on the inside. To carry out the plan of public borrowing to the General Fund in December, the need to attract 176 billion, or 28% of the annual plan that without the help of the IMF to do this is unrealistic, so the government is actively reducing expenses. In January – November reduced costs compared to the plan for 101 billion, or 10%. According to the Chairman of the accounts chamber Valery Patskan, of the 23 existing budget programs for the four costs had never been made, and the MINISTRY of health spent only 7.4 billion UAH or 44% of the planned UAH 16.6 billion.

 

Also increase the debts of the Pension Fund provided by the state Treasury loans. During January – November, the Pension Fund received UAH 174 billion of loans, which is not returned 19 billion UAH, and the risk of non-repayment of these funds until the end of 2020 growing.

 

According to the State Treasury service, in November 2020. revenues to the General Fund of the state budget amounted to 85.5 billion UAH, which amounts to 106.2% of the plan or exceeds 5 billion UAH. The fulfillment of the plan was due to the increase in value added tax to 6.3 billion UAH of rent for use of mineral resources by 1.4 billion UAH, the tax to incomes of physical persons and military collection 1.0 billion, the excise tax from produced in Ukraine goods 0.4 billion.

 

the Increase in borrowings through government bonds will increase inflow of foreign currency in Ukraine from non-residents, resulting in the hryvnia may strengthen to 28 UAH/$. In addition, will increase the foreign currency revenues from exporters of agricultural products as early in the season, the producers held back sales in anticipation of further price increases.

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