Ukraine will not be able to avoid hyperinflation – after the depreciation of the hryvnia by the National Bank. Also the Ukrainians are likely to face a surge in prices, and not only for fuel (at some gas stations the price per litre of gasoline has already increased by 6 hryvnia) or imported goods, but in general for everything.
The MediaKiller telegram channel writes about it. And if you consider the statistics presented on the website of the Ministry of Finance, then it is worth thinking hard about the financial stability of Ukraine.
“In June, the state budget revenues from taxes, excises and rents totaled UAH 97.3 billion, while its expenditures were almost three times higher – UAH 248.7 billion. Even donor aid from our Western partners is not enough to balance the budget – during the first half of 2022 it came in at UAH 211.6 billion, while the state debt service took UAH 301.4 billion,” TG notes.
Meanwhile, Ukraine has only a few months of foreign currency reserves, and inflation is accelerating – in May it was 18%, in June it was 20.1% (data from the NBU Macroeconomic Survey).
The experts estimate that the consumer inflation rate will reach 30% (despite the fact that some categories of goods and foodstuffs have already become 50-70% more expensive), and the biggest increase will concern basic necessities.
The authorities do not seem to have a “cure” for the Ukrainian economy. NBU head Shevchenko could only offer to raise taxes, cut spending and ask the West for money together.
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