Bloomberg News

Ukraine Current-Account Gap May Widen to 4.5% of GDP This Year

October 28, 2011

Oct. 28 (Bloomberg) -- Ukraine’s current-account deficit will probably widen to 4.5 percent of gross domestic product this year, Ihor Shumilo, the head of the central bank’s economic department, told reporters today in Kiev.

The shortfall will be covered by financial account surplus and doesn’t threaten the hryvnia, Shumilo said, adding that Ukraine’s foreign direct investments are seen at $7.8 billion in all of 2011. The country’s current-account gap may total 4 percent of GDP next year and will be also fully covered by financial account, Shumilo said.

To contact the editor responsible for this story: Daryna Krasnolutska at dkrasnolutsk@bloomberg.net


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