Ukrainian President Victor Yushchenko said the government’s swelling budget deficit may trigger a further weakening of the hryvnia and accelerate the pace of inflation, already the fastest in Europe. The hryvnia has slumped 45 percent against the dollar in the past year, making it the world’s worst performer among more than 170 currencies tracked by Bloomberg. It was trading at 8.5345 yesterday in Kiev, compared with 8.5169 the day before.
Yushchenko Warns Ukrainian Budget Deficit May Weaken Hryvnia
