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According to all forecasts, Ukraine's national currency may strengthen next year.
Ukrainian Finance Minister Oksana Markarova says the ministry will be adjusting the draft national budget for 2020 due to the improved projected rate of the hryvnia, Ukraine's national currency, to the U.S. dollar.
The outlooks prepared by the International Monetary Fund and the World Bank, the upcoming forecasts by the Cabinet of Ministers and the Economy Ministry, as well as that of the National Bank, show the hryvnia forex rate for the next year has strengthened, she told Voice of America in Washington on October 17.
Therefore, the national currency rate, on which the budget was based, will be different, according to the minister.
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The budget estimates will eventually be amended based on the outlook of the Economy Ministry once it has been submitted, Markarova added.
As UNIAN reported earlier, the Cabinet of Ministers registered in the parliament the draft national budget for 2020, based on the current macro-forecast with a 3.3% GDP growth and the forex rate of the hryvnia at UAH 28.2 per U.S. dollar.
On September 20, the Verkhovna Rada accepted the government-drafted budget for consideration.
Parliament is expected to consider the document in the first reading on Friday, October 18.
Ukrainian Prime Minister Oleksiy Honcharuk promised to submit an updated macro-forecast before the end of October, which will become the main one for adjusting the draft national budget for the next year.
Ukraine's national currency in September 2019 strengthened by over 4% against the U.S. dollar, and by over 12% from the beginning of the year. The National Bank of Ukraine strengthened the official forex rate of the hryvnia to UAH 24.73 to a dollar for October 18.