The NBU predicted the level of gold and foreign exchange reserves this year.

The head of the National Bank of Ukraine, Andriy Pyshny, stated that international financial assistance provided to Ukraine in 2024 will significantly contribute to the growth of the country's gold and foreign exchange reserves next year.

Pyshny made this announcement during a briefing in Kyiv.

According to him, it is predicted that Ukraine's international reserves will increase to 58 billion US dollars in 2025, which is an optimistic forecast. This forecast is based on the faster disbursement of tranches under the ERA Loans mechanism than previously expected.

'Significant inflows will also help increase Ukraine's international reserves to 58 billion US dollars in 2025, maintain them at a high level in the coming years, and ensure stability in the foreign exchange market,' said Pyshny.

The head of the NBU noted that the amount of international assistance Ukraine will receive this year will be sufficient not only to finance the budget deficit but also to form a reserve of state finances for 2025 when the volumes of external assistance are likely to decrease.

According to Pyshny, the stability of the foreign exchange market, along with measures of monetary policy, will contribute to further control of inflation expectations and a reduction of inflation to the target rate of 5% on the NBU's policy horizon.

News Analysis:

The statement by the head of the National Bank of Ukraine indicates an expected increase in the country's gold and foreign exchange reserves next year due to international financial assistance.

The projected significant increase of reserves to 58 billion US dollars in 2025 is a positive signal for Ukraine's economy and indicates the stability of the financial sector. Such an increase will facilitate the further development of the country and will have a positive impact on the state of the foreign exchange market.