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5.2.2 Current account dynamics
Ukraine’s current account switched to surplus of $218mn in June of 2022 from a deficit of $110mn in the corresponding month of the previous year. The primary income swung to a surplus of $991mn from a deficit of $391mn and the secondary income surplus increased to $2,246mn from $392mn a year earlier. Meanwhile, the goods deficit widened to $1,840mn from $346mn while the services account switched to a deficit of $1,179mn from $235mn. During the first six months of 2022, the current account recorded a $3,747mn surplus, compared with a $167mn gap in the same period of last year.
5.2.3 Gross international reserves
The NBU predicts an 8.6% reduction in international reserves by the end of the year. The National Bank of Ukraine predicts a decrease in international reserves in the second half of 2022 by 8.6% - from $22.8B to $20.8B, according to the regulator's forecast released at a briefing. In addition, the National Bank predicts that reserves will amount to $21.2B by the end of 2023 and will increase to $28.7B in 2024. At the same time, the balance of the operational account, according to the regulator's forecasts, will be positive and amount to $6.4B by the end of 2022, while at the end of last year, it was negative to the amount of $3.2B. The NBU expects that this indicator will be negative at the end of 2023 and 2024 by $3.9B and $8.8B, respectively.
41 UKRAINE Country Report XXXX 2018 www.intellinews.com