Photo from UNIAN
The corporate sector expects the outcome of the Sunday elections and the formation of a new government.
Ukrainian businesses' forecast for the forex rate of Ukraine's hryvnia against the U.S. dollar by the end of the year has improved to UAH 27.5 per U.S. dollar from the previously projected UAH 29.7 per U.S. dollar.
This was reported by the European Business Association, citing a statement made by EBA President Tomas Fiala at a meeting between EBA representatives and heads of the National Bank of Ukraine (NBU).
Read alsoUkraine's forex market not affected by political uncertainty – NBU
"We also reviewed the forecast for the hryvnia for the end of the year from UAH 29.7 per U.S. dollar to UAH 27.5 per U.S. dollar, and the debt-to-GDP ratio to 54%, which makes any default-related debate irrelevant," Fiala said.
He says the NBU's independence and court rulings on the possible return of nationalized PrivatBank to the former owners are among possible challenges.
In general, Fiala called investors' sentiment positive, and businesses expect the outcome of the Sunday elections and the formation of a new government.
As reported by UNIAN, the National Bank set the official forex rate of the hryvnia to the dollar for Monday, July 22, at UAH 25.82 per U.S. dollar.
The state budget of Ukraine for 2019 is based on the projected rate of the hryvnia to the U.S. dollar set at UAH 29.4 per U.S. dollar by the end of 2019.