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year, will decrease to 24% from 30% in 2022. In light of this year’s results, the dollar exchange rate is expected to reach 40 hryvnias per dollar and 45 hryvnias in 2023. The ICU believes that by the end of 2023, additional rounds of hryvnia devaluation may be needed to combat excess demand for foreign currency. According to the ICU, international reserves will decrease from $23B this year to $19B next year. The Ukrainian economy will need at least $20B to maintain stable operation in 2023. A large part of this amount will come from the IMF.
19 UKRAINE Country Report October 2022 www.intellinews.com