KYIV. Sept 9 (Interfax-Ukraine) – The recent increase in deposits in the national currency by almost 4% is an encouraging trend in the country’s banking sector, Ukraine’s President Petro Poroshenko has said.
“At the cost of enormous efforts we managed to save the hryvnia, improve the balance of payment and that of trade, which are currently already in surplus, to ensure the growth of deposits in hryvnias by nearly 4%, which is a testament to the encouraging trend in the banking sector,” Poroshenko said during an extended meeting of the Cabinet of Ministers in Kyiv in Tuesday.
According to him, the statistics of the past two months give hope that “the inflation will gradually go down, the growth in prices will stop and there will be no hyperinflation, which was predicted.”
The restructuring of foreign debts to private creditors has played an important role in stabilizing the financial situation in Ukraine, Poroshenko said.
He also said that at the beginning of this year the country’s foreign exchange reserves stood at $5 billion, and now this figure has grown to $13 billion.
The hryvnia’s exchange rate has currently stabilized at the level of UAH 22 per $1.
