18 October 2022, Tuesday, 08:30 652

State budget 2023: the expert estimated how realistic the forecast of the Cabinet of Ministers is for the doll

Редактор: Надія Комендантова

Petr Melnyk

The exchange rate of 42.2 UAH per dollar, established in the draft of the State Budget for 2023, is realistic in the case if Ukraine receives financial support from international partners. The Chairman of the Board of JSC IBOX Bank Petr Melnyk told about this in the interview to the Ukrainian News.

According to Melnyk, now the state is making maximum efforts to stabilize the situation in the country, however, there are factors that may negatively affect the exchange rate.

“The leadership of the country is making maximum efforts to stabilize the situation inside the country in order to maintain the vitality of the economy as much as possible. We expect that the level of devaluation of the national currency will have a negative impact on the level of GDP and the trade balance. Therefore, the financial assistance that comes from our allies is the stabilization factor in this case. In the short term, the level of course can be maintained only thanks to such assistance. It should be noted the role of the NBU, which skillfully copes with the pressure on the exchange rate from speculators, reducing the demand on the cash market”, said the Chairman of the Board of IBOX BANK.

The expert advises Ukrainians who plan to invest in foreign currency to give preference to the dollar, because it is more stable in the short term, taking into account the instability in the European economy.

Earlier, the NBU stated that Ukraine needs $ 38 billion – this is the total need of financing for the next year.

Note

IBOX BANK is a Ukrainian transaction bank that is operating on the financial market since 1993. At the end of 2021, the bank recorded a fivefold increase in income. The bank's shareholders invested all the income in the bank`s capital. And since February 28, 2022, the authorized capital of the financial institution has increased by UAH 600 billion. Already in March, thanks to investments, IBOX BANK grew and entered the second group of banks.