REUTERS
The National Bank of Ukraine (NBU) has estimated the losses of the Ukrainian economy as a result of the trade blockade of the temporary occupied areas in Donetsk and Luhansk regions at $1.8 billion (US$66.4 million) in 2017 and $0.5 billion ($18.4 million) in 2018, according to the regulator's press service.
In the first half of 2017, the NBU expected a significant slowdown in GDP growth due to the disruption of trade links with the occupied territories, the press service reported, referring to NBU Deputy Governor Oleh Churii who spoke at a meeting with businesses on December 11.
Nevertheless, favorable trading conditions and a record high grain yield in 2016-2017 made it possible to partially compensate for the blockade losses in the country's trade balance, which are estimated at $1.8 billion in 2017 and $0.5 billion in 2018, it said.
Read alsoUkrainian central bank expanding its blockchain team – media
The NBU stressed that it was essential for Ukraine to continue cooperation with the International Monetary Fund and fulfill its obligations, as large external debt repayments were expected in the future.
In addition, the NBU noted that the further cooperation with the IMF will contribute to the success of future placement of Ukraine's debt securities on foreign markets.