Ukraine treasury residuals surge 39% in August
4 September 2017
Ukraine’s treasury residuals surged to their all-tme record
of UAH 61.2 bln as of Sept. 1, the State Treasury reported the same day.They
rose 38.8% from UAH 44.1 bln in the prior month.
Alexander Paraschiy: General budget revenue swelled 45.7% yoy in 7M17, and treasury
residuals tell us that booming budget collections continued in August too. This
is positive for the economy, however that high level of cash at the Treasury
accounts raises the issue of hryvnia stability. Recall at the end of
2016, the hryvnia dropped 7.7% from the end of November (UAH 25.6/USD) till
mid-January 2017 (UAH 27.7/USD) owing to huge budget spending in the last weeks
of the year. The current tendency with mounting residuals increases the risks
of repeating this scenario. Hopefully, fiscal and monetary authorities will
arrange smoother spending plan this year.
residuals tell us that booming budget collections continued in August too. This
is positive for the economy, however that high level of cash at the Treasury
accounts raises the issue of hryvnia stability. Recall at the end of
2016, the hryvnia dropped 7.7% from the end of November (UAH 25.6/USD) till
mid-January 2017 (UAH 27.7/USD) owing to huge budget spending in the last weeks
of the year. The current tendency with mounting residuals increases the risks
of repeating this scenario. Hopefully, fiscal and monetary authorities will
arrange smoother spending plan this year.
