Government’s Confidence in Macroeconomic and Macro Financial Stability

by Olha Povaliaieva
Tuesday, February 1, 2022
Government’s Confidence in Macroeconomic and Macro Financial Stability

The prime minister of Ukraine, Denys Shmyhal, stated that the country has all the necessary resources to ensure financial and economic stability in the state

Ukraine’s national economy is not threatened by what is happening within the country and beyond its borders. The prime minister stated on his Facebook page that the coronavirus epidemic and other unforeseen events would not destroy the macroeconomy and macro-financial industry of the country. He confirmed his words during the briefing on the outcome of the National security and defense council meeting. Shmyhal confirmed his claim with the following facts.

At the least, Ukraine has reserves of gold. The currency reserves allow regulating the stability of the exchange rate. By the end of 2021, the number of highly liquid assets was almost $31 million.

In addition, in 2021, Ukraine fully implemented the state budget. The country did not spend more than planned. The single treasury account contains $1.918 million in national currency and $1.2 million in foreign currencies. In addition, the essential payments will be made in early autumn. This period allows the State to replenish the treasury and not take new loans. The number of assets has also increased. Thus, for example, exports and imports have increased. Exports of goods have increased by 38%. Imports have increased by 33%.

An additional bonus for the economy of Ukraine and Ukrainians was the absence of an increase in prices for hot water and heating until the end of this heating season.

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