Ukraine may lose $2 billion in revenue due to the termination of the Grain Agreement

As a result of the termination of the Black Sea Grain Initiative, Ukraine may not receive $2 billion in 2023.

Due to the disruption of the Grain Agreement by the Russians, Ukraine may not receive $2 billion in revenue in 2023. This was stated by Volodymyr Lepushynskyi, director of the Department of Monetary Policy and Economic Analysis of the National Bank, for Economic Truth.

The official emphasized that the NBU does not include the restoration of the Grain Agreement in the new macroeconomic forecast. However, experts consider unlocking all Ukrainian ports from the second half of 2024.

Also, the NBU does not rule out the possibility of resuming traffic along the “grain corridor”.

“But if it doesn’t happen, nothing special will happen for the currency market either. The National Bank has record international reserves and will be present on the foreign exchange market to balance the situation,” said Lepushynskyi.

Previously, USM wrote that due to the termination of the Grain Agreement, Ukraine lost 29% of agricultural exports.