Ukraine’s international reserves in May stand at $27B.

Friday, May 27, 2022
Ukraine’s international reserves in May stand at $27B.

  At the beginning of May, the level of international reserves in Ukraine amounted to about $27B. According to Deputy Chairman of the National Bank of Ukraine (NBU) Serhiy Nikolaychuk, Ukraine spends $2B a month to meet the needs of defense, critical imports, and settlements with payment systems. Ukraine’s budget has received about $5B since the beginning of the war from its foreign partners. However, in the long run, this system is unviable, said Nikolaychuk. The Deputy Head of the NBU believes that Ukraine needs to restore the normal functioning of the foreign exchange market and return to inflation targeting and discount rates. He also noted that Ukraine’s economy needs a fiscal impetus to prevent falling budget revenues in the face of significant military, humanitarian and social spending.

Support independent journalism team

Dear Ukraine Business News reader, we are a team of 20 Ukrainian journalists, researchers, reporters and editors who would humbly ask for your support.

Previous post
The EBRD lends €20M to Ukrainian pharmaceutical company Farmak.

The EBRD lends €20M to Ukrainian pharmaceutical company Farmak.

Next post
During the three months of full-scale war, the NBU printed UAH 120B.

During the three months of full-scale war, the NBU printed UAH 120B.

Previous Main Topics