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The Ukrainian parliament approved the 2026 state budget last week. The deficit is planned at UAH1.9trn, an equivalent of US$46bn at the current exchange rate, or 19% of GDP.
In late autumn, the National Bank further widened the band of hryvnia fluctuations compared with September and October, and even briefly weakened the hryvnia below its January lows.
Annual CPI slowed to 10.9% in October from 11.9% in September and a peak of 15.9% in May. Core CPI was down to 10.2% from 11.0% in September.
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