Importers make lower turnover

Unprecedented fall of import volume in December by 27,3% cause 2-times decrease of month deficiency of external goods turnover – by $720 million. Continuation of this tendency can lead to the effect that for the first time in three years the balance of trade can become positive. But experts expect that the rise in gas price will not allow to hold the good result for a long time – as a result of 2009 they predict negative balance of $2-5,5 billion.

..."Sharp reduction of import volume is caused by two reasons: the factor of credit multiplicator swerving and hryvna devaluation”,– says Yuriy Prozorov, the President of the Ukrainian Society of Financial Analysts...

..."It is impossible to predict the volume of capital outflow now, but clearly, it will be impossible to cover this volume by income from privatization even of such objects as “Ukrtelekom” – Yuriy Prozorov notes. Regarding the inflow of foreign direct investments, it is possible at best in Q4, when the cost of Ukrainian assets will reach the bottom, - Mr. Prozorov says.

The source: Commersant