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Automatically translated version. May contain inaccuracies compared to the original.
Economist: there are no economic reasons for the hryvnia to devalue
The current devaluation of the hryvnia is a hundred percent artificial process that has no economic grounds behind it. The reason for this artificial devaluation is that the new Cabinet and the National Bank of Ukraine decided to follow in the footsteps of their predecessors.
By taking the easy route—the devaluation of the hryvnia—the government of Volodymyr Groysman wants, firstly, to fill the state and local budgets. Secondly, to satisfy the appetites of financial-industrial groups that are oriented toward export. Those whom in Ukraine are called oligarchs.
Two months ago the Groysman government submitted a budget resolution for 2017 year. At that time the hryvnia exchange rate against the dollar stood at 24,6. In addition, the Cabinet lays out a forecast of the exchange rate – 27,2. Although there are no economic reasons for devaluation. Especially not such a serious one – at 12%.
That is, the current government, without changing anything, is following the path of the Yatsenyuk cabinet. But for everyone else (Ukrainian citizens and domestic businesses that are not exporters) devaluation is a harmful phenomenon. But evidently the interests of citizens and Ukrainian manufacturers are not a priority for Groysman’s government.
Andriy NOVAK
Document: PDF proof of the original version of the news item "Економіст: жодних економічних причин для девальвації гривні немає". It records the publication content at the moment of the first scan, the preservation date and the source: ANTIKOR.
