World Economy

Ukraine’s Inflation to Reach 30%

Ukraine’s Inflation to Reach 30%Ukraine’s Inflation to Reach 30%

Ukraine’s inflation rate for 2015 will be more than 30%, Ukrainian National Bank deputy head Dmytro Sologub said Friday, Sputnik reported. “In regard to inflation, we will probably not see a figure of under 30%,” Sologub said during a conference dedicated to Ukrainian exports. In February, Ukrainian Prime Minister Arseniy Yatsenyuk said the country’s inflation rate will be 26% in 2015. The country’s annual inflation rate reached 24.9% in December 2014, according to a Ukraine State Statistics service January estimate. On December 31, 2014, Ukrainian President Petro Poroshenko signed a law on the state budget for 2015, based on an inflation rate of 13.1%. Ukrainian authorities have made an attempt to help the deteriorating economy with international loans. According to the IMF, Ukraine’s external debt is projected to exceed 150% of the country’s GDP in 2015.