Foreign Exchange Reserves of Ukraine Reached Historical Maximum
OREANDA-NEWS. May 05, 2011. The Foreign exchange reserves of Ukraine have reached a historical maximum and now are about 37 billion USD. The Prime Minister of Ukraine Mykola Azarov told this in an interview at the broadcast of the First National Channel.
"Our monetary reserves reached a historical maximum. They are about USD 37 billion. This is for the first time of Ukrainian history. This is due to the fact that we have significantly stepped up exports, livelier transfers from abroad of our people who work outside of Ukraine.
For goods, in fact, there are some negative but overall currency have come to the country more than the country goes, so monetary reserves are growing", - Mykola Azarov emphasized.
He said the negative balance of trade happened due to the fact that incomes are growing and therefore increasing demand for imports. So, the Ukrainian bought new cars twice more then in the last year. "The purchasing power of people has increased. Who would not say - people are buying more imported products. Imports start increasing. It has increased by 30%", - the Head of Government concluded.
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