Ukrainian Economy - Smooth 2Q, expect calm 3Q

Ukrainian Economy - Smooth 2Q, expect calm 3Q



12 липня 2012 года
Конкорд Капитал

Ukraine coped fairly well with its challenges in 1H12, though cooperation with the IMF remains on hold and lingering gas negotiations with Russia have brought no results so far. GDP growth was close to 2% in 1H12, thanks to solid domestic consumption. The government passed its peak for external public debt redemptions and should manage to service its debt smoothly for the remainder of 2012 as domestic FX borrowings remain sizable. The NBU is still committed to preventing major hryvnya depreciation vs. the US dollar and balance of payments trends have been supportive of this goal so far. We lower our end-2012 exchange rate projection marginally to UAH 8.4/USD from UAH 8.2/USD previously as the central bank’s determination to allow for greater UAH/USD volatility seems to be deepening. To view the full report, follow this link and login: http://rs.concorde.ua/research/research/research-reports/?get_file=978.

Источник: Конкорд Капитал

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