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NBU: The deficit of the financial accounts of Ukraine in August has risen sharply

Sep 25th, 2009 | By admin | Category: Main News

current account deficit of balance of payments in Ukraine in August 2009 decreased to $ 44 million to $ 348 million in July, and financial account deficit rose to $ 2.574 billion from $ 595 million in the previous month, reported on the website of the National Bank of Ukraine (NBU) with reference to the preliminary data.

According to the report, the main factor in improving the current account was the increase in exports of goods - increased supply of steel and agricultural products in almost constant volume of imports.

In August 2009, took almost a fully balanced current account of balance of payments ... The main factor behind this growth appeared to balance the export of goods (by 6,5% compared to July), primarily by groups of ferrous metals, and agricultural and industrial production, - the report said.

widening gap in the financial account was held due to growth in payments on foreign debts: state and private banks and companies have paid its external obligations in August for $ 1.7 billion negative balance in transactions with credit and bonds of private sector in January-August totaled $ 7.1 billion ($ 11.9 billion of net attraction for January-August 2008): rollover for eight months of 2009 is estimated to be 76%, including the banking sector - 73% of the real economy - 86%.

According to the National Bank, the current account deficit for January-August amounted to $ 1.142 billion, down from $ 7.97 billion up to the same period last year.

financial account deficit of up to eight months of 2009 reached $ 9.707 billion, whereas in January-August 2008 was recorded its surplus at $ 14.199 billion

Negative (August) the consolidated balance of payments ($ 2.6 billion), partially offset by the overall distribution of the International Monetary Fund SDR worth $ 1.6 billion, - notes the NBU.

According to the report, some recovery of the world economy led to an increase in export volumes, resulting in a trade deficit in goods in August fell to $ 457 million c $ 693 million in July. External deficit in January-August 2009 $ 1.7 billion, that in 5,8 times less than the same period last year ($ 9.8 billion).

Regarding exports NBU reports that its value has increased in August compared with July at 6.5%, to $ 3.5 billion: exports by group of ferrous metals grew 19.6% compared with July, mainly because of for the increase in the volume of deliveries.

Export of grain of new harvest (in August ended with the collection of early grain - by September 1, collected 36.5 million tonnes, and for the year is expected to 45 million tonnes, with the exception of last year was the highest rate since 1993) hasprovided an increase of supply food products 15,1% by July, against a background of continuing decline in prices of agricultural products on world markets.

According to the National Bank, in August in Ukraine imported goods worth $ 4 billion, up 0.6% lower than in the previous month.

Reducing the volume of imports compared to the previous month was held by all major groups except for mineral products (except for this group of import volume decreased by 7,6 %)... devaluation of the hryvnia exchange rate in July and August led to a downward adjustment of import volumes goods - the message says.

volume of export during the eight months totaled $ 24.4 billion, which is 48,4% less than in January-August 2008. The volume of imports of goods in January-August 2009 totaled $ 27.5 billion, decreased by 2,1 times the corresponding period of 2008.

According to National Bank, in August, non-residents were given services worth $ 1.3 billion, and received from them - worth $ 949 million

According to the National Bank of Ukraine estimates the net inflow of foreign direct investment (FDI) in August 2009 at $ 118 million (in July - $ 309 million), which is the lowest level since 2006. The volume of net FDI inflows into Ukraine for the first 8 months of the year valued at $ 2.5 billion, that in 3,2 times less than for the corresponding period last year ($ 8.1 billion).

Thus according to central bank's net repayment of external liabilities of the banking sector in August was $ 932 million in August rollover for all liabilities of banks decreased in comparison with the previous month and 67% (in July - 74%), -- says.

National Bank also said that in August, the government repaid eurobonds on $ 500 million

Net repayment of the real sector of the economy amounted to $ 237 million, while in July a surplus at $ 284 million: in August rollover to the real sector of all obligations amounted to 75%, while in July - 157%.

Insurers burned on a helmet

rapid reduction in fees for CASCO resulted in a total collapse of the Ukrainian insurance market ...


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