Russia hopes Astana talks on Syria will yield package of documents on de-escalation zonesRussian Politics & Diplomacy June 25, 20:31
Russians’ real incomes up by 3% in May - Russian finance ministerBusiness & Economy June 25, 18:39
All doping tests of Russian players at 2014 FIFA World Cup are negativeSport June 25, 15:10
Police refrains from calling Newcastle incident a terrorist attackWorld June 25, 13:14
Putin offers condolences to Pakistan’s president over fire victimsRussian Politics & Diplomacy June 25, 12:39
Fire of fuel tank kills 123 people in Pakistan - TVWorld June 25, 7:58
Muslims worldwide celebrate Eid al-FitrSociety & Culture June 25, 5:18
Mexico knocks out Russia from FIFA Confederations Cup with 2-1 win in KazanSport June 24, 19:59
Putin visits Crimean youth camp ArtekSociety & Culture June 24, 19:42
KIEV, December 30. /TASS/. Ukraine’s GDP shrank by 7.5% and inflation reached 21% by November since the start of the year, National Bank Chief Valeriya Gontareva said on Tuesday.
“The country has seen a GDP fall by 7.5% and actually 100% devaluation. Using economic terms, this is called a 50-percent devaluation (for the hryvnia). Inflation has reached 21% by November since the start of the year,” she said.
In the current conditions, it is impossible to keep a stable hryvnia exchange rate, the National Bank head said.
“This is simply an unrealistic task (to maintain exchange rate stability) because it is not even prescribed in any constitution,” she said.
“The exchange rate of our currency relative to our trade partners is a mirror of the state of our economy and our balance of payments,” she said.
Ukraine is hit by a “full-scale financial crisis,” National Bank Chief admitted.
“The level of gold and foreign exchange reserves has reached its minimum of $9.9 billion as of early December since 2009,” she said.