You're reading: Advisor to NBU governor: Re-stabilization of hryvnia exchange rate improves prospects for restoration of economy

The successful re-stabilization of the hryvnia exchange rate in September, along with the retaining of price stability, improves the prospects for the restoration of the economy, the head of the group of advisors to the National Bank governor, Valeriy Lytvytsky, has told Interfax-Ukraine.

“Sprouts of restoration processes in the economy are being formed. There is a great likelihood of finishing the current year, as the previous one, without recession,” he said.

Lytvytsky said that experts are expecting the restoration of the upward pace of the Ukrainian economy in the second half of 2013 after four quarters of decline.

“Not only the effect of the comparison base for the previous year, but also the additional measures for stirring up the economy and the urgent and fuller usage of advantages of the new economic situation could tip the scale towards [a restoration of the economy],” he said.

He said that it is better to renovate the mechanisms for Ukrainian and Russian economic cooperation after the expected signing of the Association Agreement with the EU.