Nikolaychuk added in statements to “Eqtisad Sky News Arabia” that the Ukrainian Central Bank expects the country’s gross domestic product to grow by 2.9 percent during the current year.
He said: “The economy appears to have greater resilience and will continue to rise positively, although the scene is worsening due to the escalation of the war.”
The Deputy Governor of the Central Bank of Ukraine pointed out that the most important elements that helped in the recovery of the Ukrainian economy was international support, as Ukraine received from its foreign partners about $34 billion in the form of loans and grants, “and that helped us in financing the monetary budget, which was the most important part in managing our general macroeconomics.” The past,” he said.
He added: “Macroeconomic stability, international support, and good agricultural crops helped us greatly in reducing inflation to 7.1 percent in September, and we expect by the end of this year that inflation will remain at this low percentage.”
On the other hand, Sergei Nikolaychuk said that the Russian-Ukrainian war complicated the logistics related to the export of Ukrainian grain.
He explained that Ukraine began seeking to find alternative ways to export grains and agricultural products to global markets after the Russian side withdrew from the grain export agreement.
“Recently, we began exporting agricultural products through the Black Sea using routes that protect our armed forces from Russian warships in general, and it seems that we have currently been able to use 60 to 70 percent of the export capabilities that we previously had before the war,” he said.
Sergei Nikolaychuk stressed the importance of American support for Ukraine at the present time, explaining that the United States is one of the largest donors to his country.
He said: “What we are witnessing from our partners from the United States is that they continue to support us as long as we need it, but a solution to the political situation must be found,” referring to the budget crisis that may lead to a reduction in American support provided to Ukraine.
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