Kiev: Oleg Ustenko, a presidential adviser, stated on Sunday that the country of Ukraine now has record-high gold and foreign currency reserves of $30 billion, adding that the sum is sufficient to cover imports for at least five months.
Ustenko told the Rada TV channel, "Our foreign reserves have risen to a level not seen in the past ten years, topping $30 billion." "The sum would be sufficient to cover more than five months' worth of imports from Ukraine."
If the reserves are enough to cover the nation's imports for at least three months, Ustenko claims that the economic situation is stable.
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The senior official expressed concern that Ukraine's projected inflation rate of 25% in 2023 could rise even higher if hostilities between the warring parties worsen and attacks on the nation's infrastructure increase.
In a previous report, the National Bank of Ukraine stated that the country's foreign reserves, which stood at about $29 billion in February 2023, had decreased by 3.5% month over month. The regulator blamed its currency market interventions for the decline.
According to preliminary figures, Ukraine's foreign reserves as of January 1 totaled $28.5 billion, a 7.9% decrease from the previous year.
A larger $115 billion international aid package that included a four-year, $15.6 billion loan programme for Ukraine was approved by the International Monetary Fund in March.
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The institution has approved the loan as the first significant financing programme for a nation taking part in a significant military operation. The previous $5 billion IMF programme for the nation ended last year.