Macroeconomic Forecast Ukraine

According to latest data, Ukrainian consumer price growth came in at 20.9% y-o-y in February, down from 22.3% in January, and 2008's high of 31.1% recorded in May. In light of our forecast for further hryvnia depreciation, which we forecast to come in at UAH10.0000/US$ at end-year (down from the unit's current level of UAH8.0000/US$), we expect inflationary pressures to remain pronounced through the medium term.

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