The economy development and trade minister Petro Poroshenko does not see any threats to the national currency, he told a press conference, ForUm correspondent reports.
“A currency should be stable. If we increase production of our own gas, reduce energy carriers' prices, launch domestic oil refineries, then we will level the balance of payments. There are no threats to the national currency. Neither this year, nor the next one,” the minister stressed.
Poroshenko also said that the exchange rate cannot be permanent because it depends on many factors, including the balance of payments. As an example he cited the situation in Russia, where in the last days the ruble against the dollar fell by 15% due to the fact that oil prices fell respectively, considering that oil is one of the main exports of this country.
The minister said that the IMF does not require increasing the UAH rate but recommends making it flexible so that it takes into account the balance of payments situation, supply and demand for currency.
“Currently, supply and demand for currency in Ukraine is balanced. The country has sufficient reserves to absorb the speculative pressure on the rate. However, the rate cannot be always one and the same. You cannot spend the gold and foreign currency reserves only for artificial preventing the rate against raising or falling,” the minister said.
“A currency should be stable. If we increase production of our own gas, reduce energy carriers' prices, launch domestic oil refineries, then we will level the balance of payments. There are no threats to the national currency. Neither this year, nor the next one,” the minister stressed.
Poroshenko also said that the exchange rate cannot be permanent because it depends on many factors, including the balance of payments. As an example he cited the situation in Russia, where in the last days the ruble against the dollar fell by 15% due to the fact that oil prices fell respectively, considering that oil is one of the main exports of this country.
The minister said that the IMF does not require increasing the UAH rate but recommends making it flexible so that it takes into account the balance of payments situation, supply and demand for currency.
“Currently, supply and demand for currency in Ukraine is balanced. The country has sufficient reserves to absorb the speculative pressure on the rate. However, the rate cannot be always one and the same. You cannot spend the gold and foreign currency reserves only for artificial preventing the rate against raising or falling,” the minister said.
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