Lavrov says Russia-Belarus relations developing in working modeRussian Politics & Diplomacy February 21, 21:48
Condolence book in memory of Churkin opened at Russia’s Permanent Mission to UNWorld February 21, 20:53
Ukrainian billionaire Dmitry Firtash detained in Vienna at Spain’s requestWorld February 21, 20:40
UN secretary-general offers Lavrov condolences on Churkin’s deathWorld February 21, 19:53
OPEC does not see problems regarding growth of Russian oil exportBusiness & Economy February 21, 19:46
Kremlin to bake 100,000 pancakes for MaslenitsaSociety & Culture February 21, 19:23
Production of Mercedes Benz cars to start in Russia in 2019Business & Economy February 21, 18:43
UN Security Council holds a minute of silence in memory of Russia’s deceased envoyWorld February 21, 18:30
Russia and US might launch joint operations against terrorists in Raqqa — ministerWorld February 21, 18:17
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.