The Ministry of Finance of Ukraine in 2019 exceeded the amount of debt allowed by law on the state budget. This is due to the sale and purchase of government bonds. Now if the Ministry of Finance will suspend a number of operations and the holders of government securities will begin to sell, we should expect a sharp collapse of the exchange rate.
About it in the comments of ГолосUA economist said Vsevolod Stepanyuk.
“The current Minister of Finance (O. Markarova) already broke the law on the state budget. That is, in the law on the budget has clearly stated the size which you can increase government debt. Now as the month of July, the Ministry of Finance exceeded the plan for the borrowing. He had already borrowed what is stipulated in the law on the budget for the whole year, and just passed 7 months of the year. So the question is: will the next Finance Ministry to implement the law on the state budget? If the future the Ministry of Finance will implement the budget law, then he will have to reduce the sale of government bonds at least until the end of the year, it will have a negative impact on the hryvnia exchange rate. And if it’s to hell with the law, the course may be, and hold on”,
– the economist said.
V. Stepanyuk expressed the opinion that now the hryvnia is under pressure from various speculative factors. But it can’t last forever.
“The stronger the course will be hold, the stronger it will collapse, because sooner or later it will happen, and I think this will happen either by new year or right after him,”
the expert added.
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