Ukraine's economy ministry may revise forecast for hryvnia rate

Ukrainian Minister of Economic Development, Trade and Agriculture Tymofiy Mylovanov says the ministry is considering the revision of the macroeconomic forecast for 2020-2022 with regard to the rate of the hryvnia, Ukraine's national currency, to the U.S. dollar.

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"As for the [hryvnia] exchange rate, I think we will have to revise it in the macroeconomic forecast with regard to its strengthening. This does not mean that the exchange rate will be lower. Now it's [UAH] 23-24 [per U.S. dollar]. We still expect a certain devaluation. We forecasted an average rate at UAH 26-27 [per dollar] for the next year. But the more good news for the economy, the stronger the rate," he said at the presentation of the ministry's plans and achievements, which took place at Kharkiv-based Turboatom on December 22.

Mylovanov also noted the reached agreement between Naftogaz of Ukraine and Russia's Gazprom on gas transit to Europe among the latest good news for the economy.

As UNIAN reported earlier, Ukraine's Economic Development, Trade and Agriculture Ministry in autumn presented an updated macroeconomic forecast for 2020-2022 with the forex rate of the hryvnia against the U.S. dollar at UAH 27 in 2019.