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 MP Lutsenko: Ukraine lost half of economy, hryvnia to keep falling

Chairman of Poroshenko Bloc parliamentary faction Yurii Lutsenko believes the hryvnia will continue to depreciate, and it is not to be blamed on the National Bank.

He said it at Svoboda Slova talk show on air of ICTV channel, Censor.NET reports.

According to him, Ukraine lost 20 percent of its economy in 2014 due to the occupation, and another 20 percent in 2015 after Russia closed its markets. This year, Ukraine is still sustaining economic losses because "Russia imposed barriers on Ukraine's export-import operations through its territory."

"Experts say Ukraine has lost at least 20 percent of GDP. Altogether, this means that we have lost half of the economy," Lutsenko summed up.

According to the MP, while "the NBU's work is far from being perfect, but if the economy is only half alive, the hryvnia will keep falling."

Read more: Bloomberg analysts report Ukrainian currency slump, central bank interventions


In this regard, Lutsenko says, the government's key task is to revive the economic growth. "We need a political stability as a prerequisite for economic breakthrough," the politician believes.

In early February, hryvnia exchange rate against the dollar and the euro fell to an 11-month low. Finance Minister Natalie Jaresko blamed the temporary instability of the hryvnia on the "mismatch of weekdays and weekends in Ukraine and the United States" as well as the depreciation of the Russian ruble.
 
 
 
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