Farmland market liberalization will support hryvnia's appreciation in autumn — expert

With farmland market liberalization expected in autumn 2020 in Ukraine, the national currency will appreciate substantially. This was announced by economic expert Evgeniy Oleynikov on Rada.

"Now hryvnia has depreciated slightly for seasonal reasons. Over the past few years, we have seen, so to speak, a spiral, when hryvnia weakens at the end of the year because importers start fixing their revenues and converting hryvnia revenues into foreign currency, when foreign investors fix their profits, convert them into foreign currency and pay dividends. And in December, January and February, the receipt of foreign currency proceeds decreases," explained the expert.

He also added that in March 2020, we can expect an increase in the dollar exchange rate as the government needs to repay foreign loans.

The minimum price for farmland in Ukraine, as provided by the draft law No.2178-10 prepared for the second reading in the Parliament (the Verkhovna Rada), can be no less than the normative monetary valuation of land plots which now in Ukraine makes UAH 27.499 per 1 ha.