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Ukraine expects international reserves to grow 1.5-fold by late 2018

Then there will be a slight reduction.

Ukraine expects international reserves to grow 1.5-fold by late 2018
The National Bank of Ukraine
Photo: Photo: flickr / NBU

The international reserves of Ukraine should grow 1.5 times up by the end of 2018 in comparison with their current size, according to the country's basic principles of monetary policy for 2018 and medium-term prospect.

The document says that the reserves at the end of 2017 should hit a 20bn-dollar target and increase to 27.1bn dollars, demonstrating a 35.5-per-cent growth.

In 2019, when Ukraine has to make large payments on public debt, the reserves will slide down to 25.7bn dollars, and grow to 25.9bn dollars bn in 2020.

As of 1 September, Ukraine had 18.04bn dollars in international reserves. The last time the volume of reserves exceeded this mark was in early 2014.

The reserves have grown 16 per cent up since the beginning of the year.