Balance of payments surplus to remain by the year end, experts forecast

Experts predict the balance of payments surplus, recorded in July, to remain until the end of 2012.
"It is obvious that the current surplus is caused by the placement of $2 billion Eurobonds. But, in my opinion, the positive balance of payments will be observed until the end of the year," financial expert Volodymyr Belyaminov said.

According to him, the good grain harvest of this year will also contribute to this.

The executive director of the International Fund blazer Oleg Ustenko agrees with Belyaminov.

"Despite the fact it sounds strange, but the balance of payments surplus is also favored by the suspension of lending to Ukraine by the International Monetary Fund. Due to this we could diversify other debts, not just government ones. In addition, Ukraine does not have to pay any large debts before the end of the year," he said.

MP, chairman of the Parliament’s Sub-Committee on International Economic Policy of the Committee on Economic Policy Oleksiy Plotnikov also forecasts that the recorded in July balance of payments surplus will remain in coming months.

 

"It's hard to say whether this trend will be kept until the end of the year, but in September and October, and possibly later, we will see a positive balance of payments," he said.

This, according to the MP, will be also favored by the good grain harvest and export opportunities of the domestic farmers.

According to senior adviser of the Alfa-Bank (Ukraine) Roman Shpek, the above trend will remain due to the active work of the National Bank in the foreign and domestic markets.