‘The dollar exchange rate in Ukraine will rise to 50 hryvnias, and social payments will be frozen’, – MP said

Ukraine will gradually move towards an exchange rate of 50 hryvnias per dollar. At the same time, all social payments will be frozen at the current level for the next few years.

This opinion was expressed by MP Nina Yuzhanina.

“I no longer trust the budget declaration very much, as it is a document that supposedly means something, but in reality, it means nothing. It’s already clear that our numbers are fluctuating for this year, and the forecast can’t be accurate for next year,” the MP stated.

She reported that by September 15, a draft budget for next year could be submitted to the Verkhovna Rada, but the process is “very complicated.”

The current year’s budget includes an average exchange rate of 40.7 hryvnias per dollar, with a rate of 42.1 hryvnias for December. By 2025, the government expects the average exchange rate to rise to 45 hryvnias per dollar.

Earlier, Bloomberg reported that Ukrainian authorities expect the International Monetary Fund to push them towards devaluing the hryvnia, lowering interest rates, and raising taxes to cover the budget deficit.