It is important not to panic but understand that the stability of the economy, gold and foreign exchange reserves and the support of foreign partners guarantee Ukraine a stable passage of this period. This was emphasized by Prime Minister Denys Shmyhal during a briefing following a meeting of the National Security and Defense Council.
The Prime Minister noted that current Ukraine has one of the highest levels of gold and foreign exchange reserves (over USD 30 billion), which allows the Government together with the NBU to clearly manage the situation and stability of hryvnia in the foreign exchange market.
The state budget for 2021 was implemented in full. According to Denys Shmyhal, revenues increased by UAH 206 billion compared to 2020. In addition, exports of goods grew by 38%.
According to the Prime Minister, as of today, the Single Treasury Account has a total of UAH 55.115 billion, of which UAH 35.630 billion is in foreign currency accounts.
Last year, according to Denys Shmyhal, Ukraine received a record foreign investment over the past 7 years - more than USD 6.5 billion. There were also leveraged more than EUR 1.2 billion and more than USD 1.1 billion in long-term soft loans to ensure the country's economic recovery and development.
"Today, given the information impact on the stability of the economy, the President of the European Commission has decided to provide Ukraine with special macro-financial assistance in the amount of EUR 1.2 billion. In addition, the European Commission has allocated EUR 120 million in special grant funding. Another USD 120 million was provided by Canada last week. All these processes take place following the conversation of the President of Ukraine Volodymyr Zelenskyy with the leaders of the states and the European Union. The response of the partners is instantaneous," Denys Shmyhal emphasized.
The Prime Minister added that the Government continues to cooperate with the IMF, and the ministries work with the Fund's mission on a daily basis. The Cabinet of Ministers expects the next revision of the current program with the IMF in February this year, as well as engages in work to extend other programs.