02.03.2015, Macroeconomic Forecast Ukraine, “Is there light at the end of the tunnel?”, IER
Institute for Economic Research and Policy Consulting (IER) released a new issue of “Macroeconomic forecast Ukraine”.
In the new issue: “The instability in the Ukraine’s economy increased. Low international reserves do not allow the Nnational Bank of Ukraine to effectively intervene in the interbank foreign exchange market, which suffers from low FX supply against the background of exports decline, panic and speculations. As a result, hryvnia exchange rate sharply depreciated putting additional pressure on budget due to large share of FX debt. To secure the economic development the Government faces the necessity to implement immediate steps aimed primarily at the fiscal consolidation measures. Otherwise, it might lose a chance to ensure stabilization of Ukraine’s economy and to spark recovery in 2016”.