According to results of the discussion, the participants of the program made the following forecasts concerning dollar-to-hryvna rate change, and price growth in 2008:
- According to results of 2007 the inflation in Ukraine will be 13%-14%;
- In 2008 prices for goods and services will grow by more than 10%;
- In the nearest perspective there is expected no dollar-to-hryvna rate change.
‘This year we have been observing the rapid growth of product and service import which significantly exceeds export. It has already led to negative trade balance. At this moment this tendency is compensated by dollar flows coming from selling the Ukrainian banks, and from syndicated credits, but nobody knows how long it will last. Thus, NBU may postpone the US currency devaluation till country’s balance of payments improves, ‘assured Alexander Sedykh in the course of discussion. ‘But at the same time NBU’s long-term goal is implementing the mechanism of variable exchange rate which is used in highly developed countries, and which may take 2-3 years’.
In order to keep money from inflation the experts recommend to invest your savings into hryvna deposits, as besides the absence of currency risks, deposits in the national currency imply higher profitability. Especially as in autumn the guaranteed compensation deposit sum was increased up to 50 thousand hryvnas, so now you can trust your savings to small banks at 15.5% - 16.0% annually.
‘At the same time investments into credit unions and investment certificates of asset management companies (AMC) will become more popular. For example, profitability of many investment funds since the beginning of 2007 has been 40% - 50% and more, ’assured Alexander Sedykh.
The airtime of the program took place on the 26th of November on the First national channel.
